The Greedy Trader Weekly Analysis
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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 sectorStochastic signal line moved below overbought areaBroken trend resistance lineBroken trend resistance line
Daily :The price has risen above the Parabolic SARPrice has crossed above the 50 Day Moving AverageThe price moved above the moving average in the center of the Bollinger Bands
Move cursor over the icon to see details.

It was a first positive week after 3 consecutive negative weeks for the Abbott Labs (ABT). During the week, the ABT gained 1.17 points, or 1.92%, and closed at 62.16 on Friday, July 06, 2018. It was the best weekly gain since May 11, 2018. Weekly volume was -40% below 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 64.60 on January 25, 2018. ABT gained -32.96 points, or -104.17%, in 264 weeks. The chart has formed a Falling Pennant chart pattern. The uptrend resistance line (39.64) 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 64.60 on January 25, 2018. ABT gained -28.60 points, or -79.44%, in 104 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (39.99) 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 Lane's Stochastic signal line (%D) has moved below overbought area. 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 link to access Lane's Stochastic help.

The weekly MACD line is below its signal line since June 15, 2018. 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 63.95 on March 12, 2018. ABT gained -8.37 points, or -15.06%, in 31 days. The chart has formed a Rectangle chart pattern. The trend support level is at 56.59 and resistance is at 64.99. A rectangle chart pattern is characterized as a short-term horizontal channel and represents a trading range and indecision area that is usually resolves in the direction of the main trend. Chart analysis usually considers a rectangle pattern a continuation formation, but it can also mark significant top and bottom. A rectangle pattern within younger parent trend has more chances to mark a continuation. Use the following link to access a Rectangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rectangle pattern in a short-term trend.

Daily Technical Indicators: [See ABT daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since June 12, 2018. The distance between MACD and the signal line is low and getting smaller.

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.

During the last week, the price has moved above 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 advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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) 43.17
Williams' Percentage Range (W%R) 60.40
Lane's Stochastic (%D-Slow) 44.57
Greed/Fear Indicator (GFI) 42.43
Moving Average Converg./Diverg. (MACD) -0.06
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 58.52
Williams' Percentage Range (W%R) 33.30
Lane's Stochastic (%D-Slow) 77.27
Greed/Fear Indicator (GFI) 66.68
Moving Average Converg./Diverg. (MACD) 1.62
Trading Signals
Description Value Chart
Monthly Trendline Resistance 69.61
Monthly Trendline Support 65.90
Weekly Trendline Resistance 64.99
Upper Bollinger Band 63.42
Weekly Stochastic Crossing 62.62
Price 62.16
20 Day Moving Average 61.92
Daily Stochastic Crossing 61.32
50 Day Moving Average 61.29
Parabolic System 60.26
Lower Bollinger Band 59.81
Weekly Trendline Support 56.59
Quarterly Trendline Resistance 53.94
Sector and Industry
Description Name Rank
Sector Healthcare 9
Industry Drug Manufacturers/Major 99
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 63.85
High Date 06/07/2018
Low 60.32
Low Date 06/25/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rectangle
Status Valid
Resistance 64.99
Support 56.59
Low 55.58
Low Date 02/09/2018
High 63.95
High Date 03/12/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 69.61
Support 65.90
Low 37.38
Low Date 12/01/2016
High 64.60
High Date 01/25/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 53.94
Support 39.99
Low 36.00
Low Date 01/28/2016
High 64.60
High Date 01/25/2018
Description Value
Direction Up
Chart Pattern Falling Pennant
Status Broken Resistance
Resistance 34.47
Support 39.64
Low 31.64
Low Date 01/02/2013
High 64.60
High Date 01/25/2018
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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