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Monthly Pattern:Ascending Triangle
Number of records: 4
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Chart Analysis and Chart Pattern Recognition – Ascending Triangle Pattern
The ascending triangle pattern is a variation of symmetrical triangle formation that has a flat resistance line and a rising support line. The higher lows indicate the increasing demand and give the ascending triangle definitive bullish bias. The ascending triangle usually represents an accumulation stage in bullish market. The ascending triangle is considered as a continuation pattern, especially in an uptrend, but it may also mark a reversal in a downtrend. Volume usually increases on a breakout move. After breakout (similar to rectangle), resistance may turn into potential support and vice versa.
Ascending Triangle Screening page presents a list of stocks forming an Ascending Triangle Pattern.
Tips:
# 1As a continuation pattern, an ascending triangle usually appears within a young trend, characterized by neutral long-term indicators and overbought short-term indicators. An ascending triangle resets short-term indicators to neutral and then continues the movement in parent's direction.
# 2 As a reversal formation, an ascending triangle appears in a mature downtrend, characterized by oversold short-term and long-term indicators. This situation usually generates bullish divergence on long-term indicators.
# 3 For the best results, chart patterns should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance line.
Ascending Triangle Pattern,Ascending Triangle,Ascending Triangle Chart Pattern,Trend Support, chart pattern, chart, pattern, technical analysis, signals, chart analysis, pattern recognition, screening, technical trading
Alexion Pharmaceuticals Inc
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Summary:
Weekly :Overbought sectorStochastic signal line moved below overbought areaBroken trend support line
Daily :Relative Strength Index oversoldWilliams' Percentage Range and Lane's Stochastic are strongly oversold
Move cursor over the icon to see details.

It was the negative week for the Alexion Pharmaceuticals Inc (ALXN). During the week, the ALXN dropped -4.79 points, or -3.87%, and closed at 118.88 on Friday, August 10, 2018. Weekly volume was -16% below average.

ALXN is a member of Healthcare Sector. Healthcare 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 ALXN long-term trend chart]
A long-term downtrend had started on July 23, 2015 at 208.88 and reached 96.18 on May 26, 2017. ALXN lost 112.70 points, or 53.95%, in 96 weeks. The chart has formed a Falling Pennant chart pattern. The trend support level is at 104.14 and resistance is at 123.14. A Falling Pennant chart pattern represents a brief pause after a sharp move in a dynamic market. It is considered one of the most reliable continuation patterns.Use the following link to access a Falling Pennant chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Pennant pattern in a long-term trend.

Medium-term trend: [See ALXN medium-term trend chart]
A medium-term uptrend had started on April 20, 2018 at 102.10 and reached 138.77 on July 26, 2018. ALXN gained -36.67 points, or -35.92%, in 13 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (138.88) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. ALXN may retest the broken support line. It is considered to be a resistance 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 support in a medium-term trend.

Weekly Technical Indicators: [See ALXN weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. 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 link to access Lane's Stochastic help.

The weekly MACD line is above its signal line since May 4, 2018. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See ALXN short-term trend chart]
A short-term downtrend had started on August 1, 2018 at 133.72 and reached 118.20 on August 10, 2018. ALXN lost 15.52 points, or 11.61%, in 9 days. Price is near the trend low.

Daily Technical Indicators: [See ALXN daily technical indicators chart]
Daily Relative Strength Index is oversold while Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index or strongly oversold daily Williams' Percentage Range and Lane's Stochastic. Use the following links to access Relative Strength Index and Williams' Percentage Range help.

The daily MACD line is below its signal line since July 25, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 17.10
Oversold
Williams' Percentage Range (W%R) 93.50
Strong Oversold
Lane's Stochastic (%D-Slow) 7.72
Strong Oversold
Greed/Fear Indicator (GFI) 10.44
Oversold
Moving Average Converg./Diverg. (MACD) -0.21
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.03
Williams' Percentage Range (W%R) 52.40
Lane's Stochastic (%D-Slow) 71.15
Greed/Fear Indicator (GFI) 55.83
Moving Average Converg./Diverg. (MACD) 1.44
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 142.07
Upper Bollinger Band 139.60
Quarterly Trendline Support 138.88
Weekly Stochastic Crossing 131.29
20 Day Moving Average 130.23
50 Day Moving Average 126.47
Parabolic System 124.27
Yearly Trendline Resistance 123.14
Daily Stochastic Crossing 119.10
Price 118.88
Lower Bollinger Band 114.56
Yearly Trendline Support 104.14
Sector and Industry
Description Name Rank
Sector Healthcare 9
Industry Drug Manufacturers/Other 134
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 133.72
High Date 08/01/2018
Low 118.20
Low Date 08/10/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 133.72
High Date 08/01/2018
Low 118.20
Low Date 08/10/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 138.77
High Date 07/26/2018
Low 118.20
Low Date 08/10/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 142.07
Support 138.88
Low 102.10
Low Date 04/20/2018
High 138.77
High Date 07/26/2018
Description Value
Direction Down
Chart Pattern Falling Pennant
Status Valid
Resistance 123.14
Support 104.14
High 208.88
High Date 07/23/2015
Low 96.18
Low Date 05/26/2017
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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