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Quarterly Pattern:Falling Pennant
Number of records: 3
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Chart Analysis and Chart Pattern Recognition – Bear Flag, Bull Flag, Bearish Pennant and Bullish Pennant.

Bear flag, bull flag, bearish pennant and bullish pennant chart patterns represent brief pauses after sharp moves in a dynamic market. They are considered as most reliable continuation patterns. Flags are characterized as short-term channels slanting against the main trend. Pennants represent short-term triangle formations. Volume is heavy during the sharp move preceding the formation.
Trading technique:
# 1 Flags and pennants present an additional opportunity to enter the dynamic market.
Tips:
# 1
Usually flags and pennants represent short-term pauses technically required to reset overbought/oversold technical indicators and allow further movement. They likely to appear at earlier stages of the larger patterns, when short-term technical indicators are grossly overbought/oversold, but long-term indicators are in the middle range. In a situation when both long and short-term indicators are overbought (oversold), flags and pennants have more chances to become the beginning of a larger formation. Flags and pennants are considered invalid as soon as they break the parent's formation trend line.
# 2 As a continuation pattern, rectangle usually appears within a young trend characterized by neutral long-term indicators and overbought/oversold short-term indicators. Rectangle resets daily CTI to neutral and then continues the movement in parent's direction.
# 3 For the best results, chart patterns should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: projected support/resistance level of larger trend.

Archive
- 12/8/2017
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Ametek
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Summary:
Weekly :Overbought sectorRelative Strength Index, Williams' Percentage Range and Lane's Stochastic are overboughtStochastic has declined below the signal lineBroken trend resistance line
Daily :Stochastic signal line moved below overbought areaDaily  MACD line has moved below its signal line
Move cursor over the icon to see details.

It was the negative week for the Ametek (AME). During the week, the AME gave back -0.35 points, or -0.49%, and closed at 71.74 on Friday, December 08, 2017. Weekly volume was -29% 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 73.06 on November 30, 2017. AME gained -30.24 points, or -70.62%, in 94 weeks. The chart has formed a Falling Pennant chart pattern. The uptrend resistance line (45.63) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 resistance line in a long-term trend.

Medium-term trend: [See AME medium-term trend chart]
A medium-term uptrend had started on November 2, 2016 at 43.98 and reached 73.06 on November 30, 2017. AME gained -29.08 points, or -66.12%, in 56 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 67.91 and resistance is at 72.57. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See AME weekly technical indicators chart]
Weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since September 22, 2017. This is an indication that the medium-term trend is up. 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 August 29, 2017 at 61.77 and reached 73.06 on November 30, 2017. AME gained -11.29 points, or -18.28%, in 93 days. The chart has formed a Rising Channel chart pattern. The trend support level is at 70.73 and resistance is at 73.21. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a short-term trend.

Daily Technical Indicators: [See AME daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 61.82
Williams' Percentage Range (W%R) 25.30
Lane's Stochastic (%D-Slow) 42.22
Greed/Fear Indicator (GFI) 59.59
Moving Average Converg./Diverg. (MACD) 0.93
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 84.57
Overbought
Williams' Percentage Range (W%R) 10.80
Overbought
Lane's Stochastic (%D-Slow) 82.00
Overbought
Greed/Fear Indicator (GFI) 77.95
Moving Average Converg./Diverg. (MACD) 2.90
Trading Signals
Description Value Chart
Weekly Trendline Resistance 73.21
Upper Bollinger Band 72.96
Monthly Trendline Resistance 72.57
Parabolic System 72.48
Weekly Stochastic Crossing 72.12
Price 71.74
Daily Stochastic Crossing 71.52
Weekly Trendline Support 70.73
20 Day Moving Average 70.67
50 Day Moving Average 68.90
Lower Bollinger Band 68.31
Monthly Trendline Support 67.91
Sector and Industry
Description Name Rank
Sector Industrial Goods 10
Industry Industrial Electrical Eqp 114
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 73.06
High Date 11/30/2017
Low 70.57
Low Date 12/01/2017
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 73.21
Support 70.73
Low 61.77
Low Date 08/29/2017
High 73.06
High Date 11/30/2017
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 72.57
Support 67.91
Low 43.98
Low Date 11/02/2016
High 73.06
High Date 11/30/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Falling Pennant
Status Broken Resistance
Resistance 41.35
Support 45.63
Low 42.82
Low Date 02/05/2016
High 73.06
High Date 11/30/2017
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 2.30
Low Date 03/14/2000
High 73.06
High Date 11/30/2017
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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