The Greedy Trader Weekly Analysis
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Quarterly Pattern:Symmetric Triangle
Number of records: 4
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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 :Overbought sectorBroken trend support lineBroken trend support line
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARBearish Dark Cloud Cover CandlestickPrice is near the Fibonacci 23.6% retracement levelThe 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 Allegion (ALLE). During the week, the ALLE dropped -2.12 points, or -2.51%, and closed at 82.46 on Friday, December 08, 2017. It was the worst weekly loss since October 27, 2017. Weekly volume was -7% below average.

ALLE 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 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 chart has formed a Rising Channel chart pattern. The uptrend support line (85.59) 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 long-term trend.

Medium-term trend: [See ALLE medium-term trend chart]
A medium-term uptrend had started on October 27, 2017 at 78.63 and reached 85.76 on December 4, 2017. ALLE gained -7.13 points, or -9.07%, in 5 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (86.14) 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 ALLE weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since October 27, 2017. 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 December 4, 2017 at 85.76 and reached 81.39 on December 6, 2017. ALLE lost 4.37 points, or 5.10%, in 2 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 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.

Candlestick pattern: [See ALLE candlestick chart pattern]
On Friday the chart has formed a Bearish Dark Cloud Cover Candlestick pattern. Bearish Dark Cloud Cover pattern is a trend reversal indicator which signifies the end of an uptrend and the start of a downtrend. The reliability of the Bearish Dark Cloud Cover pattern is considered a highly reliable pattern of market reversalUse the Technical Stock Screener to see the list of stocks that had a Bearish Dark Cloud Cover Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.87
Williams' Percentage Range (W%R) 43.60
Lane's Stochastic (%D-Slow) 20.44
Greed/Fear Indicator (GFI) 41.90
Moving Average Converg./Diverg. (MACD) -0.30
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 56.75
Williams' Percentage Range (W%R) 46.30
Lane's Stochastic (%D-Slow) 39.02
Greed/Fear Indicator (GFI) 47.51
Moving Average Converg./Diverg. (MACD) 2.12
Trading Signals
Description Value Chart
Yearly Trendline Resistance 90.38
Monthly Trendline Support 86.14
Monthly Trendline Resistance 86.01
Yearly Trendline Support 85.59
Parabolic System 85.33
50 Day Moving Average 84.60
Upper Bollinger Band 84.51
Weekly Stochastic Crossing 83.03
20 Day Moving Average 83.03
Price 82.46
Daily Stochastic Crossing 82.19
Lower Bollinger Band 81.76
Sector and Industry
Description Name Rank
Sector Financial 9
Industry Regional-Southwest Banks 35
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 81.39
Low Date 12/06/2017
High 83.78
High Date 12/08/2017
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 85.76
High Date 12/04/2017
Low 81.39
Low Date 12/06/2017
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 86.01
Support 86.14
Low 78.63
Low Date 10/27/2017
High 85.76
High Date 12/04/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 89.81
High Date 10/13/2017
Low 78.63
Low Date 10/27/2017
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 90.38
Support 85.59
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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