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Yearly 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
Archive
- 2/9/2018
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American Int'l. Group
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Summary:
Weekly :Oversold sectorBroken trend support line
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARLane's Stochastic is oversoldPrice has crossed below the 50 Day Moving AverageThe 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 American Int'l. Group (AIG). During the week, the AIG dropped -2.82 points, or -4.47%, and closed at 60.22 on Friday, February 09, 2018. It was the worst weekly loss since November 3, 2017. Weekly volume was 82% above average.

AIG is a member of Financial Sector. Financial is the second most oversold 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 57.29 and resistance is at 66.09. 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 (69.06) 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 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 January 19, 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 AIG short-term trend chart]
A short-term downtrend had started on August 3, 2017 at 67.30 and reached 57.85 on December 14, 2017. AIG lost 9.45 points, or 14.04%, in 133 days. The chart has formed a Ascending Triangle chart pattern. The trend support level is at 57.82 and resistance is at 63.13. An Ascending Triangle is a variation of triangle formation that has a flat resistance line and rising support line. The higher lows indicate an increasing demand and give the ascending triangle definitive bullish bias. An Ascending Triangle usually represents an accumulation stage in bullish market. An Ascending Triangle is considered to be a continuation pattern, especially in an uptrend, but it may also mark a reversal in a downtrend. Use the following link to access a Ascending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Ascending Triangle pattern in a short-term trend.

Daily Technical Indicators: [See AIG daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic. 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.

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. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 47.28
Williams' Percentage Range (W%R) 54.60
Lane's Stochastic (%D-Slow) 16.08
Oversold
Greed/Fear Indicator (GFI) 36.26
Moving Average Converg./Diverg. (MACD) 0.37
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.79
Williams' Percentage Range (W%R) 54.50
Lane's Stochastic (%D-Slow) 66.54
Greed/Fear Indicator (GFI) 53.05
Moving Average Converg./Diverg. (MACD) -0.39
Trading Signals
Description Value Chart
Quarterly Trendline Support 69.06
Quarterly Trendline Resistance 67.14
Yearly Trendline Resistance 66.09
Upper Bollinger Band 65.12
Parabolic System 63.90
Weekly Trendline Resistance 63.13
Weekly Stochastic Crossing 62.97
20 Day Moving Average 62.11
50 Day Moving Average 60.75
Price 60.22
Daily Stochastic Crossing 59.42
Lower Bollinger Band 57.93
Weekly Trendline Support 57.82
Yearly Trendline Support 57.29
Sector and Industry
Description Name Rank
Sector Financial 2
Industry Prprty/Casualty Insurance 52
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 57.85
Low Date 12/14/2017
High 65.05
High Date 01/29/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Ascending Triangle
Status Valid
Resistance 63.13
Support 57.82
High 67.30
High Date 08/03/2017
Low 57.85
Low Date 12/14/2017
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 67.47
High Date 01/10/2017
Low 57.85
Low Date 12/14/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Descending Triangle
Status Broken Support
Resistance 67.14
Support 69.06
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 66.09
Support 57.29
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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