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Yearly Pattern:Descending Triangle
Number of records: 3
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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
Archive
- 12/1/2017
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American Int'l. Group
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Summary:
Weekly :Overbought sectorBroken trend support line
Daily :Stochastic has raised above the signal lineThe price has risen above the Parabolic SAR
Move cursor over the icon to see details.

It was a first positive week for the American Int'l. Group (AIG). During the week, the AIG gained 0.85 points, or 1.44%, and closed at 59.88 on Friday, December 01, 2017. It was the best weekly gain since October 20, 2017. Weekly volume was 6% above average.

AIG is a member of Financial Sector. Financial is the 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 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 Descending Triangle chart pattern. The trend support level is at 56.21 and resistance is at 66.01. A Descending Triangle is a variation of triangle formation that has a flat support line and falling resistance line. The lower highs indicate the decreasing demand and give the descending triangle definitive bearish bias. A Descending Triangle usually represents a distribution stage in bearish market. A Descending Triangle is considered to be a continuation pattern, especially in a down trend, but it may also mark a reversal in an uptrend. Use the following link to access a Descending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Descending Triangle pattern in a long-term trend.

Medium-term trend: [See AIG medium-term trend chart]
A medium-term uptrend had started on June 27, 2016 at 48.41 and reached 67.47 on January 10, 2017. AIG gained -19.06 points, or -39.37%, in 28 weeks. The chart has formed a Descending Triangle chart pattern. The uptrend support line (66.69) is broken. A broken support is considered to be a long-term bearish 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 support in a medium-term trend.

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

The weekly MACD line is below its signal line since November 17, 2017. 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 October 20, 2017 at 65.55 and reached 58.52 on November 28, 2017. AIG lost 7.03 points, or 10.72%, in 39 days. The price is now at the 19.35% retracement level.

Daily Technical Indicators: [See AIG daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish 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 link to access Lane's Stochastic help.

The daily MACD line is below its signal line since October 31, 2017. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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) 29.28
Williams' Percentage Range (W%R) 68.70
Lane's Stochastic (%D-Slow) 42.74
Greed/Fear Indicator (GFI) 34.42
Moving Average Converg./Diverg. (MACD) -0.82
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 46.60
Williams' Percentage Range (W%R) 76.90
Lane's Stochastic (%D-Slow) 40.01
Greed/Fear Indicator (GFI) 38.70
Moving Average Converg./Diverg. (MACD) -0.11
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 67.20
Quarterly Trendline Support 66.69
Yearly Trendline Resistance 66.01
Upper Bollinger Band 63.13
50 Day Moving Average 62.09
20 Day Moving Average 60.68
Weekly Stochastic Crossing 60.47
Daily Stochastic Crossing 59.88
Price 59.88
Parabolic System 58.92
Lower Bollinger Band 58.36
Yearly Trendline Support 56.21
Sector and Industry
Description Name Rank
Sector Financial 9
Industry Prprty/Casualty Insurance 98
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 65.55
High Date 10/20/2017
Low 58.52
Low Date 11/28/2017
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 67.30
High Date 08/03/2017
Low 57.90
Low Date 09/08/2017
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 67.47
High Date 01/10/2017
Low 57.90
Low Date 09/08/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Descending Triangle
Status Broken Support
Resistance 67.20
Support 66.69
Low 48.41
Low Date 06/27/2016
High 67.47
High Date 01/10/2017
Description Value
Direction Up
Chart Pattern Descending Triangle
Status Valid
Resistance 66.01
Support 56.21
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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