The Greedy Trader Weekly Analysis
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Weekly Pattern:Falling Wedge
Number of records: 3
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Chart Analysis and Chart Pattern Recognition – Falling Wedge Pattern.
A falling wedge pattern is a triangle formation with noticeable slant to the downside. It represents the loss of the downside momentum on each successive low and has a bullish bias. The falling wedges pattern usually marks a reversal in a downtrend. In an uptrend, the falling wedge pattern is considered as a continuation pattern. As with other triangle formations, volume usually diminishes as price rise and then increases during the breakout.
Falling Wedge Screening page presents a list of stocks forming Falling Wedge Pattern.
Tips:
# 1
To confirm the loss of the downside momentum at the reversal point, see bullish divergence on technical indicators.
# 2 For the best results, chart patterns should be considered together with other technical analysis signals and technical trading techniques.
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Ametek (AME)

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is strongly overboughtTrend resistance at 101.48
Daily :Williams' Percentage Range is overboughtThe price has fallen below the Parabolic SAR20 Day Moving Average has crossed below the 50 Day Moving AverageDaily  MACD line has moved above its signal lineThe price moved above the moving average in the center of the Bollinger Bands
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It was a second consecutive positive week for the Ametek (AME). During the week, the AME gained 3.04 points, or 3.09%, and closed at 101.34 on Friday, February 14, 2020. It was the best weekly gain since November 1, 2019. Weekly volume was -42% below average.

AME is a member of Industrial Goods Sector. Industrial Goods is the second 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 AME long-term trend chart]
A long-term uptrend had started on February 5, 2016 at 42.82 and reached 102.31 on January 8, 2020. AME gained -59.49 points, or -138.93%, in 204 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (101.48). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.

Medium-term trend: [See AME medium-term trend chart]
A medium-term downtrend had started on January 8, 2020 at 102.31 and reached 96.54 on January 31, 2020. AME lost 5.77 points, or 5.64%, in 3 weeks. The price is now at the 83.19% retracement level.

Weekly Technical Indicators: [See AME weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. 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 Williams' Percentage Range help.

The weekly MACD line is below its signal line since January 31, 2020. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.

Short-term trend: [See AME short-term trend chart]
A short-term uptrend had started on January 31, 2020 at 96.54 and reached 102.00 on February 12, 2020. AME gained -5.46 points, or -5.66%, in 12 days. The price is now at the 12.09% retracement level.

Daily Technical Indicators: [See AME 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 MACD line has moved above its signal line. Such crossover is considered a bullish 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 moved above 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.

During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 63.86
Williams' Percentage Range (W%R) 11.50
Overbought
Lane's Stochastic (%D-Slow) 77.56
Greed/Fear Indicator (GFI) 76.65
Moving Average Converg./Diverg. (MACD) -0.01
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 65.11
Williams' Percentage Range (W%R) 3.90
Strong Overbought
Lane's Stochastic (%D-Slow) 62.07
Greed/Fear Indicator (GFI) 71.11
Moving Average Converg./Diverg. (MACD) 3.57
Trading Signals
Description Value Chart
Upper Bollinger Band 102.64
Quarterly Trendline Resistance 101.48
Price 101.34
Daily Stochastic Crossing 101.28
Weekly Stochastic Crossing 99.92
50 Day Moving Average 99.74
20 Day Moving Average 99.70
Parabolic System 98.53
Lower Bollinger Band 97.16
Sector and Industry
Description Name Rank
Sector Industrial Goods 8
Industry Industrial Electrical Eqp 87
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 96.54
Low Date 01/31/2020
High 102.00
High Date 02/12/2020
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 102.31
High Date 01/08/2020
Low 96.54
Low Date 01/31/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 63.14
Low Date 12/26/2018
High 102.31
High Date 01/08/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Test Resistance
Resistance 101.48
Support 71.33
Low 42.82
Low Date 02/05/2016
High 102.31
High Date 01/08/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 2.30
Low Date 03/14/2000
High 102.31
High Date 01/08/2020
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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