The Greedy Trader Weekly Analysis
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Quarterly Pattern:Symmetric Triangle
Number of records: 6
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 area
Move cursor over the icon to see details.

It was the negative week for the Allegion (ALLE). During the week, the ALLE gave back -0.50 points, or -0.65%, and closed at 76.86 on Friday, July 06, 2018. Weekly volume was -21% below average.

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 chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 72.07 and resistance is at 86.88. 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 long-term trend.

Medium-term trend: [See ALLE medium-term trend chart]
A medium-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 price is now at the 20.67% retracement level.

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. 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 June 14, 2018 at 82.46 and reached 76.14 on June 25, 2018. ALLE lost 6.32 points, or 7.66%, in 11 days. The price is now at the 11.39% retracement 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 June 20, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 23.82
Williams' Percentage Range (W%R) 74.80
Lane's Stochastic (%D-Slow) 35.55
Greed/Fear Indicator (GFI) 28.18
Moving Average Converg./Diverg. (MACD) -0.47
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 31.22
Williams' Percentage Range (W%R) 73.30
Lane's Stochastic (%D-Slow) 43.27
Greed/Fear Indicator (GFI) 37.26
Moving Average Converg./Diverg. (MACD) -0.73
Trading Signals
Description Value Chart
Yearly Trendline Resistance 86.88
Upper Bollinger Band 82.39
20 Day Moving Average 79.03
Weekly Stochastic Crossing 78.67
Parabolic System 78.41
50 Day Moving Average 78.18
Daily Stochastic Crossing 77.16
Price 76.86
Lower Bollinger Band 74.09
Yearly Trendline Support 72.07
Sector and Industry
Description Name Rank
Sector Financial 3
Industry Regional-Southwest Banks 42
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 76.14
Low Date 06/25/2018
High 78.74
High Date 07/03/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 82.46
High Date 06/14/2018
Low 76.14
Low Date 06/25/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 73.85
Low Date 05/03/2018
High 82.46
High Date 06/14/2018
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 Broadening Descending Wedge
Status Valid
Resistance 86.88
Support 72.07
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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