The Greedy Trader Weekly Analysis
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Monthly Pattern:Descending Triangle
Number of records: 2
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Chart Analysis and Chart Pattern Recognition – Descending Triangle Pattern
The descending triangle is a variation of a symmetrical triangle formation that has a flat support line and a falling resistance line. The lower highs indicate the decreasing demand and give the descending triangle definitive bearish bias. The descending triangle usually represents a distribution stage in bearish market. The descending triangle is considered as a continuation pattern, especially in a downtrend, but it may also mark a reversal in an uptrend. Volume usually increases on trend support resistance breakout. After breakout (similar to rectangle), support may turn into potential resistance and vice versa.
Descending Triangle Screening page presents a list of stocks forming Descending Triangle Pattern.
Tips:
# 1 As a continuation pattern, descending triangle usually appears within a young trend, characterized by neutral long-term indicators and oversold short-term indicators. Descending triangle resets short-term indicators to neutral and then continues the movement in parent's direction.
# 2 As a reversal formation, descending triangle appears in a mature uptrend, characterized by overbought long-term and short-term indicators. This situation usually generates bearish divergence on long-term indicators.
# 3 For the best results, chart patterns should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance level. line.
Descending Triangle Pattern,Descending Triangle,Descending Triangle Chart Pattern,Trend support resistance, chart pattern, chart, pattern, technical analysis, signals, chart analysis, pattern recognition, screening, technical trading
American Airlines Group
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Summary:
Weekly :Broken trend support line
Daily :Daily  MACD line has moved below its signal lineThe price is below the lower Bollinger BandLane's Stochastic is oversoldPrice has crossed below the 50 Day Moving Average
Move cursor over the icon to see details.

It was the negative week for the American Airlines Group (AAL). During the week, the AAL dropped -4.89 points, or -11.83%, and closed at 36.44 on Friday, October 05, 2018. Weekly volume was 35% above average.

Long-term trend: [See AAL long-term trend chart]
A long-term downtrend had started on January 16, 2018 at 59.08 and reached 35.64 on July 12, 2018. AAL lost 23.44 points, or 39.68%, in 25 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 29.53 and resistance is at 51.38. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.

Medium-term trend: [See AAL medium-term trend chart]
A medium-term uptrend had started on July 12, 2018 at 35.64 and reached 43.88 on September 21, 2018. AAL gained -8.24 points, or -23.12%, in 10 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend support line (37.59) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. AAL may retest the broken support line. It is considered to be a resistance line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.

Weekly Technical Indicators: [See AAL weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since August 24, 2018. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See AAL short-term trend chart]
A short-term downtrend had started on September 21, 2018 at 43.88 and reached 36.21 on October 5, 2018. AAL lost 7.67 points, or 17.48%, in 14 days. Price is near the trend low.

Daily Technical Indicators: [See AAL daily technical indicators chart]
Daily Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Lane's Stochastic. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Lane's Stochastic help.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 34.38
Williams' Percentage Range (W%R) 77.60
Lane's Stochastic (%D-Slow) 4.15
Strong Oversold
Greed/Fear Indicator (GFI) 20.32
Moving Average Converg./Diverg. (MACD) 0.18
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 46.79
Williams' Percentage Range (W%R) 77.50
Lane's Stochastic (%D-Slow) 64.11
Greed/Fear Indicator (GFI) 45.58
Moving Average Converg./Diverg. (MACD) -2.33
Trading Signals
Description Value Chart
Upper Bollinger Band 42.90
Parabolic System 41.04
Weekly Stochastic Crossing 41.02
20 Day Moving Average 40.21
50 Day Moving Average 39.41
Monthly Trendline Support 37.59
Lower Bollinger Band 36.53
Daily Stochastic Crossing 36.52
Price 36.44
Quarterly Trendline Support 29.53
Sector and Industry
Description Name Rank
Sector
Industry Water Utilities 52
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 43.88
High Date 09/21/2018
Low 36.21
Low Date 10/05/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 43.88
High Date 09/21/2018
Low 36.21
Low Date 10/05/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Support
Resistance 44.66
Support 37.59
Low 35.64
Low Date 07/12/2018
High 43.88
High Date 09/21/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 51.38
Support 29.53
High 59.08
High Date 01/16/2018
Low 35.64
Low Date 07/12/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 1.45
Low Date 07/15/2008
High 59.08
High Date 01/16/2018
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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