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 :
Daily :Daily  MACD line has moved above its signal lineThe price is close to the moving average in the center of the Bollinger Bands
Move cursor over the icon to see details.

It was a second consecutive positive week for the Allegion (ALLE). During the week, the ALLE gained 1.09 points, or 1.41%, and closed at 78.37 on Friday, May 18, 2018. ALLE was trading at average weekly trading volume.

Long-term trend: [See ALLE long-term trend chart]
A long-term downtrend had started on October 13, 2017 at 89.81 and reached 73.85 on May 3, 2018. ALLE lost 15.96 points, or 17.77%, in 28 weeks. The price is now at the 28.32% 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 69.83 and resistance is at 86.20. 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 78.50 on May 18, 2018. ALLE gained -4.65 points, or -6.30%, in 15 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 76.43 and resistance is at 80.32. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.

Daily Technical Indicators: [See ALLE daily technical indicators chart]
Daily technical indicators are neutral.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

The price is close to 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 56.82
Williams' Percentage Range (W%R) 74.80
Lane's Stochastic (%D-Slow) 70.53
Greed/Fear Indicator (GFI) 50.85
Moving Average Converg./Diverg. (MACD) -1.86
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 49.83
Williams' Percentage Range (W%R) 79.20
Lane's Stochastic (%D-Slow) 30.39
Greed/Fear Indicator (GFI) 31.44
Moving Average Converg./Diverg. (MACD) 0.27
Trading Signals
Description Value Chart
Monthly Trendline Resistance 86.20
Upper Bollinger Band 83.41
50 Day Moving Average 82.19
Weekly Trendline Resistance 80.32
Price 78.37
20 Day Moving Average 77.73
Daily Stochastic Crossing 77.51
Weekly Stochastic Crossing 76.56
Weekly Trendline Support 76.43
Parabolic System 75.65
Lower Bollinger Band 73.34
Monthly Trendline Support 69.83
Sector and Industry
Description Name Rank
Sector Financial 5
Industry Regional-Southwest Banks 19
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 75.65
Low Date 05/15/2018
High 78.50
High Date 05/18/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 80.32
Support 76.43
Low 73.85
Low Date 05/03/2018
High 78.50
High Date 05/18/2018
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 86.20
Support 69.83
High 87.99
High Date 03/13/2018
Low 73.85
Low Date 05/03/2018
Quarterly Trend
Yearly Trend
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
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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