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Yearly Pattern:Symmetric Triangle
Number of records: 8
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Symmetric Triangle Chart Pattern Analysis - Symmetric Triangle Pattern.
A symmetric triangle pattern represents the area of indecision where the movement direction is questioned. Chart Pattern Analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of a larger trend, but it may also mark the trend reversal. Volume diminishes during the formation and explodes at the breakout. After breakout (similar to rectangle), support may turn into potential resistance and vice versa.
Tips:
# 1 As a continuation pattern, the symmetric triangle usually appears within a young trend characterized by neutral long-term indicators and overbought/oversold short-term indicators. The symmetric triangle resets short-term indicators to neutral and then continues movement in parent's direction.
# 2 As a reversal formation, the symmetric triangle chart pattern appears in a mature trend characterized by overbought/oversold long-term and short-term indicators. This situation usually generates divergence on long-term indicators. For the best results, the symmetric triangle pattern should be considered together with other chart pattern analysis, technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance line.
Symmetric Triangle Pattern,Symmetric Triangle Chart Pattern,Chart Pattern Analysis,chart pattern, charts, pattern, chart analysis, pattern recognition, screener, screening, Trading Signals
Archive
- 2/9/2018
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Adobe Systems
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Summary:
Weekly :Lane's Stochastic is overboughtBroken trend resistance lineBroken trend resistance line
Daily :Broken trend support lineBullish Harami CandlestickThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Adobe Systems (ADBE). During the week, the ADBE dropped -7.65 points, or -3.91%, and closed at 187.99 on Friday, February 09, 2018. Weekly volume was 58% above average.

Long-term trend: [See ADBE long-term trend chart]
A long-term uptrend had started on February 27, 2009 at 15.70 and reached 204.45 on January 23, 2018. ADBE gained -188.75 points, or -1202.23%, in 464 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (46.03) 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 ADBE medium-term trend chart]
A medium-term uptrend had started on August 11, 2011 at 22.67 and reached 204.45 on January 23, 2018. ADBE gained -181.78 points, or -801.85%, in 336 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (103.83) 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 ADBE weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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.

The weekly MACD line is above its signal line since January 5, 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 ADBE short-term trend chart]
A short-term uptrend had started on December 5, 2017 at 165.68 and reached 204.45 on January 23, 2018. ADBE gained -38.77 points, or -23.40%, in 49 days. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend support line (195.30) is broken. A broken support is considered to be a long-term bearish signal. 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 short-term trend.

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

The daily MACD line is below its signal line since January 31, 2018. The distance between MACD and the signal line is relatively high and getting bigger.

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.

Candlestick pattern: [See ADBE candlestick chart pattern]
On Friday the chart has formed a Bullish Harami Candlestick pattern. A Bullish Harami indicates that the bearish trend may be reversing, it signals that it's a good time to enter into a long position. Use the Technical Stock Screener to see the list of stocks that had a Bullish Harami Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 38.19
Williams' Percentage Range (W%R) 68.20
Lane's Stochastic (%D-Slow) 37.02
Greed/Fear Indicator (GFI) 35.68
Moving Average Converg./Diverg. (MACD) 3.23
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 54.72
Williams' Percentage Range (W%R) 28.30
Lane's Stochastic (%D-Slow) 85.01
Overbought
Greed/Fear Indicator (GFI) 69.67
Moving Average Converg./Diverg. (MACD) 11.37
Trading Signals
Description Value Chart
Weekly Trendline Resistance 217.70
Upper Bollinger Band 200.24
Weekly Stochastic Crossing 198.74
20 Day Moving Average 195.53
Weekly Trendline Support 195.30
Parabolic System 192.24
Daily Stochastic Crossing 188.82
Price 187.99
50 Day Moving Average 184.67
Lower Bollinger Band 184.13
Sector and Industry
Description Name Rank
Sector Technology 7
Industry Application Software 114
Daily Trend
Description Value
Direction Down
Chart Pattern Falling Channel
High 204.45
High Date 01/23/2018
Low 179.34
Low Date 02/09/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Support
Resistance 217.70
Support 195.30
Low 165.68
Low Date 12/05/2017
High 204.45
High Date 01/23/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 71.27
Low Date 02/08/2016
High 204.45
High Date 01/23/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 117.32
Support 103.83
Low 22.67
Low Date 08/11/2011
High 204.45
High Date 01/23/2018
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 25.32
Support 46.03
Low 15.70
Low Date 02/27/2009
High 204.45
High Date 01/23/2018
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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