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Yearly Pattern:Symmetric Triangle
Number of records: 5
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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
- 12/1/2017
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Adobe Systems
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Summary:
Weekly :Williams' Percentage Range is overboughtLane's Stochastic is strongly overboughtStochastic has declined below the signal lineBroken trend resistance lineBroken trend resistance line
Daily :The price has fallen below the Parabolic SARBroken trend resistance lineBullish Doji 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 -4.94 points, or -2.68%, and closed at 179.52 on Friday, December 01, 2017. It was the worst weekly loss since September 22, 2017. Weekly volume was 20% 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 186.27 on November 28, 2017. ADBE gained -170.57 points, or -1086.43%, in 456 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (45.42) 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 186.27 on November 28, 2017. ADBE gained -163.60 points, or -721.66%, in 328 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (101.46) 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 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 October 20, 2017. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. 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 2, 2016 at 98.00 and reached 186.27 on November 28, 2017. ADBE gained -88.27 points, or -90.07%, in 361 days. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (155.96) 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 ADBE daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since November 10, 2017.

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.

Candlestick pattern: [See ADBE candlestick chart pattern]
On Friday the chart has formed a Bullish Doji Candlestick pattern. Use the Technical Stock Screener to see the list of stocks that had a Bullish Doji Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 45.59
Williams' Percentage Range (W%R) 61.70
Lane's Stochastic (%D-Slow) 56.43
Greed/Fear Indicator (GFI) 46.78
Moving Average Converg./Diverg. (MACD) 4.41
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 76.59
Williams' Percentage Range (W%R) 16.00
Overbought
Lane's Stochastic (%D-Slow) 93.93
Strong Overbought
Greed/Fear Indicator (GFI) 79.58
Moving Average Converg./Diverg. (MACD) 9.74
Trading Signals
Description Value Chart
Parabolic System 186.01
Weekly Stochastic Crossing 183.72
Upper Bollinger Band 183.66
20 Day Moving Average 182.08
Daily Stochastic Crossing 180.67
Price 179.52
Weekly Trendline Resistance 177.43
Lower Bollinger Band 175.85
50 Day Moving Average 168.19
Weekly Trendline Support 155.96
Monthly Trendline Resistance 145.37
Sector and Industry
Description Name Rank
Sector Technology 5
Industry Application Software 91
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 143.95
Low Date 09/25/2017
High 186.27
High Date 11/28/2017
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 177.43
Support 155.96
Low 98.00
Low Date 12/02/2016
High 186.27
High Date 11/28/2017
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 145.37
Support 126.48
Low 71.27
Low Date 02/08/2016
High 186.27
High Date 11/28/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 114.95
Support 101.46
Low 22.67
Low Date 08/11/2011
High 186.27
High Date 11/28/2017
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 25.62
Support 45.42
Low 15.70
Low Date 02/27/2009
High 186.27
High Date 11/28/2017
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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