The Greedy Trader Weekly Analysis
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Monthly Pattern:Symmetric Triangle
Number of records: 4
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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
Automatic Data Processing Inc.
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Summary:
Weekly :Stochastic signal line moved below overbought areaWeekly  MACD line has moved below its signal lineWilliams' Percentage Range is oversoldBroken trend support line
Daily :Williams' Percentage Range and Lane's Stochastic are oversoldPrice has crossed below the 50 Day Moving AverageBullish Harami CandlestickPrice is near the Fibonacci 23.6% retracement level
Move cursor over the icon to see details.

It was the negative week for the Automatic Data Processing Inc. (ADP). During the week, the ADP dropped -7.14 points, or -6.02%, and closed at 111.43 on Friday, February 09, 2018. Weekly volume was 15% above average.

Long-term trend: [See ADP long-term trend chart]
A long-term uptrend had started on August 24, 2015 at 64.29 and reached 125.24 on January 31, 2018. ADP gained -60.95 points, or -94.80%, in 127 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 109.59 and resistance is at 112.88. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a long-term trend.

Medium-term trend: [See ADP medium-term trend chart]
A medium-term uptrend had started on May 3, 2017 at 95.50 and reached 125.24 on January 31, 2018. ADP gained -29.74 points, or -31.14%, in 39 weeks. The chart has formed a Rising Pennant chart pattern. The uptrend support line (115.80) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. ADP may retest the broken support line. It is considered to be a resistance line now. 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 medium-term trend.

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

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 ADP short-term trend chart]
A short-term downtrend had started on January 31, 2018 at 125.24 and reached 107.61 on February 9, 2018. ADP lost 17.63 points, or 14.08%, in 9 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See ADP 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.

The daily MACD line is below its signal line since January 31, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.

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.

Candlestick pattern: [See ADP 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) 29.79
Williams' Percentage Range (W%R) 90.00
Oversold
Lane's Stochastic (%D-Slow) 13.15
Oversold
Greed/Fear Indicator (GFI) 17.64
Oversold
Moving Average Converg./Diverg. (MACD) -0.19
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.56
Williams' Percentage Range (W%R) 83.80
Oversold
Lane's Stochastic (%D-Slow) 72.01
Greed/Fear Indicator (GFI) 46.03
Moving Average Converg./Diverg. (MACD) 3.33
Trading Signals
Description Value Chart
Upper Bollinger Band 125.36
Weekly Stochastic Crossing 119.70
20 Day Moving Average 118.77
Parabolic System 118.21
50 Day Moving Average 117.63
Monthly Trendline Support 115.80
Monthly Trendline Resistance 114.75
Quarterly Trendline Resistance 112.88
Price 111.43
Daily Stochastic Crossing 110.33
Quarterly Trendline Support 109.59
Lower Bollinger Band 108.57
Sector and Industry
Description Name Rank
Sector Technology 7
Industry Business Software & Svcs 127
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 125.24
High Date 01/31/2018
Low 107.61
Low Date 02/09/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 109.44
Low Date 11/07/2017
High 125.24
High Date 01/31/2018
Description Value
Direction Up
Chart Pattern Rising Pennant
Status Broken Support
Resistance 114.75
Support 115.80
Low 95.50
Low Date 05/03/2017
High 125.24
High Date 01/31/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 112.88
Support 109.59
Low 64.29
Low Date 08/24/2015
High 125.24
High Date 01/31/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 26.46
Low Date 05/06/2010
High 125.24
High Date 01/31/2018
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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