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 :Relative Strength Index and Lane's Stochastic oversoldWilliams' Percentage Range is strongly oversoldPrice is near the Fibonacci 61.8% retracement level
Daily :Relative Strength Index and Williams' Percentage Range are oversoldStochastic signal line moved above oversold areaThe price has risen above the Parabolic SAR
Move cursor over the icon to see details.

It was a first positive week after 5 consecutive negative weeks for the American Airlines Group (AAL). During the week, the AAL climbed 0.13 points, or 0.34%, and closed at 38.09 on Friday, July 06, 2018. It was the best weekly gain since May 25, 2018. Weekly volume was -10% below average.

Long-term trend: [See AAL long-term trend chart]
A long-term uptrend had started on June 27, 2016 at 24.85 and reached 59.08 on January 16, 2018. AAL gained -34.23 points, or -137.75%, in 81 weeks. Price is near the Fibonacci 61.8% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Medium-term trend: [See AAL medium-term trend chart]
A medium-term downtrend had started on March 13, 2018 at 57.44 and reached 36.76 on July 3, 2018. AAL lost 20.68 points, or 36.00%, in 16 weeks. The price is now at the 6.43% retracement level.

Weekly Technical Indicators: [See AAL weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Relative Strength Index and Lane's Stochastic or strongly oversold weekly Williams' Percentage Range. 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is below its signal line since March 23, 2018. This is an indication that the medium-term trend is down. 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 May 25, 2018 at 45.82 and reached 36.76 on July 3, 2018. AAL lost 9.06 points, or 19.77%, in 39 days. The price is now at the 14.68% retracement level.

Daily Technical Indicators: [See AAL daily technical indicators chart]
Daily Relative Strength Index and Williams' Percentage Range are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Relative Strength Index and Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal.

The daily MACD line is below its signal line since June 14, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 17.50
Oversold
Williams' Percentage Range (W%R) 82.50
Oversold
Lane's Stochastic (%D-Slow) 21.79
Greed/Fear Indicator (GFI) 18.93
Oversold
Moving Average Converg./Diverg. (MACD) -1.33
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 16.29
Oversold
Williams' Percentage Range (W%R) 93.10
Strong Oversold
Lane's Stochastic (%D-Slow) 18.95
Oversold
Greed/Fear Indicator (GFI) 22.22
Moving Average Converg./Diverg. (MACD) -1.77 Bullish
Trading Signals
Description Value Chart
Upper Bollinger Band 44.66
50 Day Moving Average 42.22
20 Day Moving Average 40.68
Weekly Stochastic Crossing 38.26
Price 38.09
Daily Stochastic Crossing 37.50
Parabolic System 36.72
Lower Bollinger Band 35.80
Sector and Industry
Description Name Rank
Sector
Industry Water Utilities 73
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 45.82
High Date 05/25/2018
Low 36.76
Low Date 07/03/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 57.44
High Date 03/13/2018
Low 36.76
Low Date 07/03/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 59.08
High Date 01/16/2018
Low 36.76
Low Date 07/03/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 24.85
Low Date 06/27/2016
High 59.08
High Date 01/16/2018
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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