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Quarterly Pattern:Descending Triangle
Number of records: 2
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Chart Analysis and Chart Pattern Recognition – Descending Triangle Pattern
The descending triangle is a variation of a symmetrical triangle formation that has a flat support line and a falling resistance line. The lower highs indicate the decreasing demand and give the descending triangle definitive bearish bias. The descending triangle usually represents a distribution stage in bearish market. The descending triangle is considered as a continuation pattern, especially in a downtrend, but it may also mark a reversal in an uptrend. Volume usually increases on trend support resistance breakout. After breakout (similar to rectangle), support may turn into potential resistance and vice versa.
Descending Triangle Screening page presents a list of stocks forming Descending Triangle Pattern.
Tips:
# 1 As a continuation pattern, descending triangle usually appears within a young trend, characterized by neutral long-term indicators and oversold short-term indicators. Descending triangle resets short-term indicators to neutral and then continues the movement in parent's direction.
# 2 As a reversal formation, descending triangle appears in a mature uptrend, characterized by overbought long-term and short-term indicators. This situation usually generates bearish divergence on long-term indicators.
# 3 For the best results, chart patterns should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance level. line.
Descending Triangle Pattern,Descending Triangle,Descending Triangle Chart Pattern,Trend support resistance, chart pattern, chart, pattern, technical analysis, signals, chart analysis, pattern recognition, screening, technical trading
American Int'l. Group
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Summary:
Weekly :Broken trend support line
Daily :Daily  MACD line has moved below its signal line20 Day Moving Average has crossed below the 50 Day Moving AverageLane's Stochastic oversoldWilliams' Percentage Range is strongly oversold
Move cursor over the icon to see details.

It was the negative week for the American Int'l. Group (AIG). During the week, the AIG dropped -1.43 points, or -2.67%, and closed at 52.22 on Friday, August 10, 2018. It was the worst weekly loss since June 29, 2018. Weekly volume was -7% below average.

Long-term trend: [See AIG long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 6.60 and reached 67.47 on January 10, 2017. AIG gained -60.87 points, or -922.27%, in 409 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (60.18) 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. AIG 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 long-term trend.

Medium-term trend: [See AIG medium-term trend chart]
A medium-term downtrend had started on January 10, 2017 at 67.47 and reached 49.57 on May 3, 2018. AIG lost 17.90 points, or 26.53%, in 68 weeks. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 47.16 and resistance is at 66.99. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See AIG weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since June 8, 2018. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.

Short-term trend: [See AIG short-term trend chart]
A short-term downtrend had started on August 1, 2018 at 56.36 and reached 51.24 on August 10, 2018. AIG lost 5.12 points, or 9.08%, in 9 days. The price is now at the 19.14% retracement level.

Daily Technical Indicators: [See AIG daily technical indicators chart]
Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily Williams' Percentage Range. 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, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

During the last week, the 20 Day Moving Average 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 39.90
Williams' Percentage Range (W%R) 92.40
Strong Oversold
Lane's Stochastic (%D-Slow) 13.01
Oversold
Greed/Fear Indicator (GFI) 20.18
Moving Average Converg./Diverg. (MACD) -0.17
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 47.76
Williams' Percentage Range (W%R) 71.50
Lane's Stochastic (%D-Slow) 55.77
Greed/Fear Indicator (GFI) 43.82
Moving Average Converg./Diverg. (MACD) -1.41
Trading Signals
Description Value Chart
Yearly Trendline Support 60.18
Upper Bollinger Band 55.64
50 Day Moving Average 54.15
20 Day Moving Average 53.90
Weekly Stochastic Crossing 53.82
Parabolic System 53.70
Price 52.22
Daily Stochastic Crossing 51.73
Lower Bollinger Band 51.72
Quarterly Trendline Support 47.16
Sector and Industry
Description Name Rank
Sector Financial 5
Industry Prprty/Casualty Insurance 87
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 56.36
High Date 08/01/2018
Low 51.24
Low Date 08/10/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 56.36
High Date 08/01/2018
Low 51.24
Low Date 08/10/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 49.57
Low Date 05/03/2018
High 56.36
High Date 08/01/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Right-Angled, Descending Wedge
Status Valid
Resistance 66.99
Support 47.16
High 67.47
High Date 01/10/2017
Low 49.57
Low Date 05/03/2018
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 67.91
Support 60.18
Low 6.60
Low Date 03/06/2009
High 67.47
High Date 01/10/2017
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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