The Greedy Trader Weekly Analysis
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Weekly Pattern:Symmetric Triangle
Number of records: 3
Symbol:  

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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
Allegion
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Summary:
Weekly :
Daily :Stochastic signal line moved above oversold areaThe price has risen above the Parabolic SARPrice is near the Fibonacci 23.6% retracement levelThe period of high volatility of the stock price
Move cursor over the icon to see details.

It was a first positive week for the Allegion (ALLE). During the week, the ALLE gained 1.13 points, or 1.48%, and closed at 77.28 on Friday, May 11, 2018. It was the best weekly gain since March 29, 2018. Weekly volume was 10% above average.

Long-term trend: [See ALLE long-term trend chart]
A long-term uptrend had started on October 27, 2016 at 61.47 and reached 89.81 on October 13, 2017. ALLE gained -28.34 points, or -46.10%, in 50 weeks. The price is now at the 44.21% retracement level.

Medium-term trend: [See ALLE medium-term trend chart]
A medium-term downtrend had started on March 13, 2018 at 87.99 and reached 73.85 on May 3, 2018. ALLE lost 14.14 points, or 16.07%, in 7 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 71.66 and resistance is at 86.39. 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.

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

The weekly MACD line is below its signal line since April 20, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term downtrend is strong. Use the following link to access a MACD help.

Short-term trend: [See ALLE short-term trend chart]
A short-term uptrend had started on May 3, 2018 at 73.85 and reached 78.23 on May 11, 2018. ALLE gained -4.38 points, or -5.93%, in 8 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See ALLE daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. 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 April 20, 2018. The distance between MACD and the signal line is low and getting smaller.

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.

The distance between the Bollinger Bands is 177.65% higher then one year average. It indicates the period of high volatility of the stock price. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 25.54
Williams' Percentage Range (W%R) 74.70
Lane's Stochastic (%D-Slow) 51.95
Greed/Fear Indicator (GFI) 34.27
Moving Average Converg./Diverg. (MACD) -2.05
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.86
Williams' Percentage Range (W%R) 77.10
Lane's Stochastic (%D-Slow) 39.72
Greed/Fear Indicator (GFI) 36.81
Moving Average Converg./Diverg. (MACD) 0.53
Trading Signals
Description Value Chart
Upper Bollinger Band 87.35
Weekly Trendline Resistance 86.39
50 Day Moving Average 82.83
20 Day Moving Average 79.83
Weekly Stochastic Crossing 78.06
Price 77.28
Daily Stochastic Crossing 76.47
Parabolic System 74.18
Weekly Trendline Support 71.66
Lower Bollinger Band 70.86
Sector and Industry
Description Name Rank
Sector Financial 7
Industry Regional-Southwest Banks 43
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 73.85
Low Date 05/03/2018
High 78.23
High Date 05/11/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 86.39
Support 71.66
High 87.99
High Date 03/13/2018
Low 73.85
Low Date 05/03/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 88.41
High Date 02/20/2018
Low 73.85
Low Date 05/03/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 76.15
Low Date 02/09/2018
High 88.41
High Date 02/20/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 61.47
Low Date 10/27/2016
High 89.81
High Date 10/13/2017
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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