The Greedy Trader Weekly Analysis
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Yearly Pattern:Symmetric Triangle
Number of records: 6
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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
- 5/18/2018
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Adobe Systems
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Summary:
Weekly :Overbought sectorWilliams' Percentage Range and Lane's Stochastic are overboughtBroken trend resistance lineBroken trend resistance line
Daily :Stochastic has declined below the signal lineThe price has fallen below the Parabolic SAR
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It was the negative week for the Adobe Systems (ADBE). During the week, the ADBE dropped -3.79 points, or -1.57%, and closed at 238.09 on Friday, May 18, 2018. It was the worst weekly loss since March 23, 2018. Weekly volume was -24% below average.

ADBE is a member of Technology Sector. Technology is the second 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 ADBE long-term trend chart]
A long-term uptrend had started on February 27, 2009 at 15.70 and reached 243.34 on May 14, 2018. ADBE gained -227.64 points, or -1449.94%, in 480 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (46.91) 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 243.34 on May 14, 2018. ADBE gained -220.67 points, or -973.40%, in 352 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (107.26) 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 Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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.

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 April 25, 2018 at 213.25 and reached 243.34 on May 14, 2018. ADBE gained -30.09 points, or -14.11%, in 19 days. The price is now at the 17.45% retracement level.

Daily Technical Indicators: [See ADBE 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.

The daily MACD line is above its signal line since May 4, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

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) 74.19
Williams' Percentage Range (W%R) 23.60
Lane's Stochastic (%D-Slow) 68.42
Greed/Fear Indicator (GFI) 73.00
Moving Average Converg./Diverg. (MACD) 4.13
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 79.33
Williams' Percentage Range (W%R) 10.10
Overbought
Lane's Stochastic (%D-Slow) 80.87
Overbought
Greed/Fear Indicator (GFI) 76.58
Moving Average Converg./Diverg. (MACD) 15.55
Trading Signals
Description Value Chart
Upper Bollinger Band 248.39
Parabolic System 243.58
Daily Stochastic Crossing 239.78
Price 238.09
Weekly Stochastic Crossing 235.64
20 Day Moving Average 230.06
50 Day Moving Average 225.34
Lower Bollinger Band 215.82
Monthly Trendline Resistance 203.16
Monthly Trendline Support 197.66
Sector and Industry
Description Name Rank
Sector Technology 8
Industry Application Software 136
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 213.25
Low Date 04/25/2018
High 243.34
High Date 05/14/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 165.68
Low Date 12/05/2017
High 243.34
High Date 05/14/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 203.16
Support 197.66
Low 71.27
Low Date 02/08/2016
High 243.34
High Date 05/14/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 120.75
Support 107.26
Low 22.67
Low Date 08/11/2011
High 243.34
High Date 05/14/2018
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 24.90
Support 46.91
Low 15.70
Low Date 02/27/2009
High 243.34
High Date 05/14/2018
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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