The Greedy Trader Weekly Analysis
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Monthly Pattern:Rising Pennant
Number of records: 2
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Chart Analysis and Chart Pattern Recognition – Bear Flag, Bull Flag, Bearish Pennant and Bullish Pennant.

Bear flag, bull flag, bearish pennant and bullish pennant chart patterns represent brief pauses after sharp moves in a dynamic market. They are considered as most reliable continuation patterns. Flags are characterized as short-term channels slanting against the main trend. Pennants represent short-term triangle formations. Volume is heavy during the sharp move preceding the formation.
Trading technique:
# 1 Flags and pennants present an additional opportunity to enter the dynamic market.
Tips:
# 1
Usually flags and pennants represent short-term pauses technically required to reset overbought/oversold technical indicators and allow further movement. They likely to appear at earlier stages of the larger patterns, when short-term technical indicators are grossly overbought/oversold, but long-term indicators are in the middle range. In a situation when both long and short-term indicators are overbought (oversold), flags and pennants have more chances to become the beginning of a larger formation. Flags and pennants are considered invalid as soon as they break the parent's formation trend line.
# 2 As a continuation pattern, rectangle usually appears within a young trend characterized by neutral long-term indicators and overbought/oversold short-term indicators. Rectangle resets daily CTI to neutral and then continues the movement in parent's direction.
# 3 For the best results, chart patterns should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: projected support/resistance level of larger trend.

Allegion
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Summary:
Weekly :Broken trend resistance linePrice is near the Fibonacci 23.6% retracement level
Daily :Williams' Percentage Range is overboughtStochastic has declined below the signal lineA Parabolic SAR indicator is above and near the price
Move cursor over the icon to see details.

It was a third consecutive positive week for the Allegion (ALLE). During the week, the ALLE climbed 0.08 points, or 0.10%, and closed at 81.80 on Friday, August 10, 2018. Weekly volume was -31% below average.

Long-term trend: [See ALLE long-term trend chart]
A long-term downtrend had started on February 20, 2018 at 88.41 and reached 73.85 on May 3, 2018. ALLE lost 14.56 points, or 16.47%, in 10 weeks. The chart has formed a Falling Pennant chart pattern. The downtrend resistance line (76.28) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. ALLE may retest the broken resistance line. It is considered to be a support 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 resistance line in a long-term trend.

Medium-term trend: [See ALLE medium-term trend chart]
A medium-term uptrend had started on July 26, 2018 at 75.89 and reached 83.50 on August 7, 2018. ALLE gained -7.61 points, or -10.03%, in 1 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

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

The weekly MACD line is above its signal line since July 27, 2018. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See ALLE short-term trend chart]
A short-term downtrend had started on August 7, 2018 at 83.50 and reached 81.46 on August 10, 2018. ALLE lost 2.04 points, or 2.44%, in 3 days. The price is now at the 16.67% retracement level.

Daily Technical Indicators: [See ALLE daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The daily MACD line is above its signal line since July 10, 2018. The distance between MACD and the signal line is low and getting smaller.

A Parabolic SAR (stop and reversal) indicator (81.03) comes close to the price (81.80). It indicates that the trend is getting weaker. 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) 68.33
Williams' Percentage Range (W%R) 17.20
Overbought
Lane's Stochastic (%D-Slow) 76.33
Greed/Fear Indicator (GFI) 75.81
Moving Average Converg./Diverg. (MACD) 0.80
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 65.43
Williams' Percentage Range (W%R) 36.80
Lane's Stochastic (%D-Slow) 67.74
Greed/Fear Indicator (GFI) 62.22
Moving Average Converg./Diverg. (MACD) -0.82
Trading Signals
Description Value Chart
Upper Bollinger Band 83.68
Daily Stochastic Crossing 82.55
Price 81.80
Weekly Stochastic Crossing 81.41
Parabolic System 81.03
20 Day Moving Average 80.86
50 Day Moving Average 79.71
Quarterly Trendline Resistance 79.48
Lower Bollinger Band 78.34
Quarterly Trendline Support 76.28
Sector and Industry
Description Name Rank
Sector Financial 5
Industry Regional-Southwest Banks 104
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 83.50
High Date 08/07/2018
Low 81.46
Low Date 08/10/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 83.50
High Date 08/07/2018
Low 81.46
Low Date 08/10/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 75.89
Low Date 07/26/2018
High 83.50
High Date 08/07/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Pennant
Status Broken Resistance
Resistance 79.48
Support 76.28
High 88.41
High Date 02/20/2018
Low 73.85
Low Date 05/03/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 89.81
High Date 10/13/2017
Low 73.85
Low Date 05/03/2018
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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