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Monthly 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
Automatic Data Processing Inc.
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Summary:
Weekly :Broken trend resistance lineBroken trend resistance line
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARPrice has crossed below the 50 Day Moving AverageBearish Deliberation CandlestickBroken trend resistance lineThe price has declined below the moving average in the center of the Bollinger Bands
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 -3.16 points, or -2.30%, and closed at 134.25 on Friday, August 03, 2018. It was the worst weekly loss since June 29, 2018. Weekly volume was 8% above average.

Long-term trend: [See ADP long-term trend chart]
A long-term uptrend had started on May 6, 2010 at 26.46 and reached 141.52 on June 14, 2018. ADP gained -115.06 points, or -434.85%, in 423 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (96.54) 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 ADP medium-term trend chart]
A medium-term uptrend had started on August 24, 2015 at 64.29 and reached 141.52 on June 14, 2018. ADP gained -77.23 points, or -120.13%, in 146 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (116.81) 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 ADP weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since April 27, 2018. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 July 26, 2018 at 140.39 and reached 129.21 on August 1, 2018. ADP lost 11.18 points, or 7.96%, in 6 days. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (126.37) is broken. A broken support is considered to be a long-term bullish 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 resistance line in a short-term trend.

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

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

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.

During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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.

Candlestick pattern: [See ADP candlestick chart pattern]
On Friday the chart has formed a Bearish Deliberation Candlestick pattern. This pattern occurs in an uptrend;it appears after a sustained upward move and suggests that the rally is losing strength and a reversal is possible. The reliability of the Bearish Deliberation pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Deliberation Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 39.64
Williams' Percentage Range (W%R) 59.40
Lane's Stochastic (%D-Slow) 29.24
Greed/Fear Indicator (GFI) 36.50
Moving Average Converg./Diverg. (MACD) 0.38
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 72.76
Williams' Percentage Range (W%R) 24.00
Lane's Stochastic (%D-Slow) 65.27
Greed/Fear Indicator (GFI) 65.87
Moving Average Converg./Diverg. (MACD) 5.35
Trading Signals
Description Value Chart
Upper Bollinger Band 139.33
Parabolic System 139.10
Weekly Stochastic Crossing 137.08
20 Day Moving Average 136.35
50 Day Moving Average 135.62
Price 134.25
Daily Stochastic Crossing 132.94
Lower Bollinger Band 132.09
Weekly Trendline Resistance 129.17
Weekly Trendline Support 126.37
Quarterly Trendline Resistance 117.69
Quarterly Trendline Support 116.81
Yearly Trendline Resistance 110.90
Sector and Industry
Description Name Rank
Sector Technology 6
Industry Business Software & Svcs 111
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 129.21
Low Date 08/01/2018
High 134.40
High Date 08/03/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 129.17
Support 126.37
High 140.39
High Date 07/26/2018
Low 129.21
Low Date 08/01/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 107.61
Low Date 02/09/2018
High 141.52
High Date 06/14/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 117.69
Support 116.81
Low 64.29
Low Date 08/24/2015
High 141.52
High Date 06/14/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 110.90
Support 96.54
Low 26.46
Low Date 05/06/2010
High 141.52
High Date 06/14/2018
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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