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Yearly Pattern:Rectangle
Number of records: 1
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Rectangle Chart Pattern - Rectangle Pattern and Chart analysis
A rectangle chart pattern is characterized as a short-term horizontal channel, and it represents a trading range and indecision area that usually resolves in the direction of the main trend. Chart analysis usually considers the rectangle pattern as a continuation formation, but it can also mark significant top and bottom. The rectangle pattern within a younger parent trend has more chances to mark a continuation. To estimate the maturity of the parent trend, consult technical indicators. Volume should increase during breakout, but in contrast with other continuation patterns, the rectangle does not inherit standard volume behavior. After breakout, the rectangle pattern resistance may turn into potential support and vice versa.
Tips:
# 1 As a continuation pattern, the rectangle pattern usually appears within a young trend characterized by neutral long-term indicators and overbought/oversold daily indicators. The pattern resets short-term indicators to neutral and then continues movement in the parent's direction.
# 2 As a reversal formation, the pattern appears in a mature trend characterized by overbought/oversold indicators on long and short time frames. This situation usually generates divergence on weekly indicators.
# 3 For the best results, the rectangle chart pattern should be considered together with other technical analysis signals, chart analysis, and technical trading techniques.
Estimated target: the higher level parent's support/resistance line.
Rectangle, chart pattern, charts, pattern, chart analysis, pattern recognition, screener, screening, Trading Signals
Abbott Labs
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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is overboughtLane's Stochastic is strongly overboughtStochastic has declined below the signal lineBroken trend resistance lineBroken trend resistance line
Daily :Stochastic has declined below the signal lineDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARBroken trend resistance line
Move cursor over the icon to see details.

It was the negative week for the Abbott Labs (ABT). During the week, the ABT dropped -1.78 points, or -2.43%, and closed at 71.58 on Friday, October 05, 2018. Weekly volume was 11% above average.

ABT is a member of Healthcare Sector. Healthcare is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See ABT long-term trend chart]
A long-term uptrend had started on January 2, 2013 at 31.64 and reached 74.15 on October 1, 2018. ABT gained -42.51 points, or -134.36%, in 299 weeks. The chart has formed a Falling Pennant chart pattern. The uptrend resistance line (40.01) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 resistance line in a long-term trend.

Medium-term trend: [See ABT medium-term trend chart]
A medium-term uptrend had started on January 28, 2016 at 36.00 and reached 74.15 on October 1, 2018. ABT gained -38.15 points, or -105.97%, in 139 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (40.40) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 resistance line in a medium-term trend.

Weekly Technical Indicators: [See ABT weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range or strongly overbought weekly Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. 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 and Williams' Percentage Range help.

The weekly MACD line is above its signal line since July 20, 2018. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See ABT short-term trend chart]
A short-term uptrend had started on February 9, 2018 at 55.58 and reached 74.15 on October 1, 2018. ABT gained -18.57 points, or -33.41%, in 234 days. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (66.33) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 resistance line in a short-term trend.

Daily Technical Indicators: [See ABT daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal.

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

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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) 71.75
Williams' Percentage Range (W%R) 29.00
Lane's Stochastic (%D-Slow) 62.01
Greed/Fear Indicator (GFI) 68.26
Moving Average Converg./Diverg. (MACD) 1.71
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 79.63
Williams' Percentage Range (W%R) 16.80
Overbought
Lane's Stochastic (%D-Slow) 90.90
Strong Overbought
Greed/Fear Indicator (GFI) 79.33
Moving Average Converg./Diverg. (MACD) 2.15
Trading Signals
Description Value Chart
Upper Bollinger Band 75.52
Monthly Trendline Resistance 74.22
Parabolic System 73.91
Weekly Stochastic Crossing 73.29
Daily Stochastic Crossing 72.68
Price 71.58
Monthly Trendline Support 70.51
20 Day Moving Average 70.28
50 Day Moving Average 67.32
Weekly Trendline Support 66.33
Weekly Trendline Resistance 66.23
Lower Bollinger Band 65.51
Sector and Industry
Description Name Rank
Sector Healthcare 9
Industry Drug Manufacturers/Major 152
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 63.07
Low Date 08/15/2018
High 74.15
High Date 10/01/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 66.23
Support 66.33
Low 55.58
Low Date 02/09/2018
High 74.15
High Date 10/01/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 74.22
Support 70.51
Low 37.38
Low Date 12/01/2016
High 74.15
High Date 10/01/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 55.02
Support 40.40
Low 36.00
Low Date 01/28/2016
High 74.15
High Date 10/01/2018
Description Value
Direction Up
Chart Pattern Falling Pennant
Status Broken Resistance
Resistance 32.98
Support 40.01
Low 31.64
Low Date 01/02/2013
High 74.15
High Date 10/01/2018
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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