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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. |
Falling Wedge Pattern,Falling Wedge,Falling Wedge Chart Pattern,Charting technique, chart pattern, chart, pattern, technical analysis, signals, chart analysis, pattern recognition, screening, technical trading |
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Ametek (AME) |
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| Summary:
| | Weekly :   | | Daily :
Move cursor over the icon to see details.
| | It was a third positive week after 3 consecutive negative weeks for the Ametek (AME). During the week, the AME gained 2.34 points, or 2.48%, and closed at 96.54 on Friday, November 8, 2019. Weekly volume was -38% below average.
AME is a member of Industrial Goods Sector. Industrial Goods 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 AME long-term trend chart]
A long-term uptrend had started on February 5, 2016 at 42.82 and reached 97.30 on November 7, 2019. AME gained -54.48 points, or -127.23%, in 195 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (98.15). 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 uptrend had started on August 26, 2019 at 82.66 and reached 97.30 on November 7, 2019. AME gained -14.64 points, or -17.71%, in 10 weeks. The price is now at the 5.19% 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.
During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. 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 October 2, 2019 at 85.18 and reached 97.30 on November 7, 2019. AME gained -12.12 points, or -14.23%, in 36 days. The chart has formed a Rising Channel chart pattern.
 Daily Technical Indicators: [See AME daily technical indicators chart]
Daily Williams' Percentage Range is overbought while Relative Strength Index and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range or strongly overbought daily Relative Strength Index and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Use the following links to access Lane's Stochastic and Relative Strength Index help.
The daily MACD line is above its signal line since October 22, 2019. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.
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