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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 :Weekly  MACD line has moved below its signal lineOversold sectorBroken trend resistance lineBroken trend resistance line
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARWilliams' Percentage Range and Lane's Stochastic are oversoldPrice has crossed below the 50 Day Moving AverageThe price has declined below the moving average in the center of the Bollinger Bands
Move cursor over the icon to see details.

It was the negative week for the Abbott Labs (ABT). During the week, the ABT dropped -1.34 points, or -2.39%, and closed at 54.64 on Friday, December 08, 2017. Weekly volume was -21% below average.

ABT is a member of Healthcare Sector. Healthcare is the most oversold 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 56.69 on October 23, 2017. ABT gained -25.05 points, or -79.17%, in 250 weeks. The chart has formed a Falling Pennant chart pattern. The uptrend resistance line (38.81) 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 56.69 on October 23, 2017. ABT gained -20.69 points, or -57.47%, in 90 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (39.06) 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 technical indicators are neutral.

During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.

Short-term trend: [See ABT short-term trend chart]
A short-term downtrend had started on December 1, 2017 at 56.68 and reached 54.32 on December 6, 2017. ABT lost 2.36 points, or 4.16%, in 5 days. The price is now at the 13.56% retracement level.

Daily Technical Indicators: [See ABT daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and 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 links to access Lane's Stochastic and Williams' Percentage Range help.

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.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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) 40.94
Williams' Percentage Range (W%R) 85.60
Oversold
Lane's Stochastic (%D-Slow) 12.78
Oversold
Greed/Fear Indicator (GFI) 22.71
Moving Average Converg./Diverg. (MACD) 0.18
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 65.87
Williams' Percentage Range (W%R) 23.50
Lane's Stochastic (%D-Slow) 70.00
Greed/Fear Indicator (GFI) 67.55
Moving Average Converg./Diverg. (MACD) 2.42
Trading Signals
Description Value Chart
Upper Bollinger Band 56.40
Parabolic System 56.25
Weekly Stochastic Crossing 55.73
20 Day Moving Average 55.40
50 Day Moving Average 55.11
Daily Stochastic Crossing 54.69
Price 54.64
Lower Bollinger Band 54.06
Quarterly Trendline Resistance 51.54
Sector and Industry
Description Name Rank
Sector Healthcare 1
Industry Drug Manufacturers/Major 54
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 56.68
High Date 12/01/2017
Low 54.32
Low Date 12/06/2017
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 42.31
Low Date 04/17/2017
High 56.69
High Date 10/23/2017
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 37.38
Low Date 12/01/2016
High 56.69
High Date 10/23/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 51.54
Support 39.06
Low 36.00
Low Date 01/28/2016
High 56.69
High Date 10/23/2017
Description Value
Direction Up
Chart Pattern Falling Pennant
Status Broken Resistance
Resistance 37.81
Support 38.81
Low 31.64
Low Date 01/02/2013
High 56.69
High Date 10/23/2017
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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