The Greedy Trader Weekly Analysis
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Quarterly Pattern:Rising Pennant
Number of records: 2
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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.

Affiliated Managers Group Inc
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Summary:
Weekly :Oversold sectorWilliams' Percentage Range and Lane's Stochastic are oversoldBroken trend support lineTrend resistance at 109.55
Daily :Williams' Percentage Range oversoldRelative Strength Index and Lane's Stochastic are strongly oversoldStochastic has raised above the signal lineThe period of high volatility of the stock price
Move cursor over the icon to see details.

It was the negative week for the Affiliated Managers Group Inc (AMG). During the week, the AMG dropped -10.64 points, or -7.90%, and closed at 124.04 on Friday, October 12, 2018. Weekly volume was 74% above average.

AMG is a member of Financial Sector. Financial is the second most oversold 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 AMG long-term trend chart]
A long-term uptrend had started on February 11, 2016 at 115.97 and reached 216.99 on January 26, 2018. AMG gained -101.02 points, or -87.11%, in 102 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (170.28) 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. AMG 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 long-term trend.

Medium-term trend: [See AMG medium-term trend chart]
A medium-term downtrend had started on January 26, 2018 at 216.99 and reached 122.13 on October 12, 2018. AMG lost 94.86 points, or 43.72%, in 37 weeks. The chart has formed a Falling Wedge chart pattern. The price is near the trend resistance line (109.55). 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 medium-term trend.

Weekly Technical Indicators: [See AMG weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold Williams' Percentage Range and Lane's Stochastic. 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 and Williams' Percentage Range help.

The weekly MACD line is below its signal line since September 21, 2018. 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 AMG short-term trend chart]
A short-term downtrend had started on September 24, 2018 at 147.94 and reached 122.13 on October 12, 2018. AMG lost 25.81 points, or 17.45%, in 18 days. The price is now at the 7.40% retracement level.

Daily Technical Indicators: [See AMG daily technical indicators chart]
Daily Williams' Percentage Range is oversold while Relative Strength Index and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Williams' Percentage Range or strongly oversold daily Relative Strength Index and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Use the following link to access Relative Strength Index help.

The daily MACD line is below its signal line since September 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.

The distance between the Bollinger Bands is 126.03% higher then one year average. It indicates the period of high volatility of the stock price. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 9.73
Strong Oversold
Williams' Percentage Range (W%R) 88.50
Oversold
Lane's Stochastic (%D-Slow) 7.74
Strong Oversold
Greed/Fear Indicator (GFI) 9.66
Strong Oversold
Moving Average Converg./Diverg. (MACD) -3.46
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 22.57
Williams' Percentage Range (W%R) 93.50
Strong Oversold
Lane's Stochastic (%D-Slow) 7.73
Strong Oversold
Greed/Fear Indicator (GFI) 16.81
Oversold
Moving Average Converg./Diverg. (MACD) -8.88
Trading Signals
Description Value Chart
Upper Bollinger Band 148.91
50 Day Moving Average 143.03
20 Day Moving Average 137.26
Parabolic System 130.38
Weekly Stochastic Crossing 124.40
Price 124.04
Quarterly Trendline Support 123.32
Daily Stochastic Crossing 123.29
Lower Bollinger Band 122.21
Quarterly Trendline Resistance 109.55
Sector and Industry
Description Name Rank
Sector Financial 2
Industry Asset Management 33
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 127.68
High Date 10/11/2018
Low 122.13
Low Date 10/12/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 147.94
High Date 09/24/2018
Low 122.13
Low Date 10/12/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 163.55
High Date 07/31/2018
Low 122.13
Low Date 10/12/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Test Resistance
Resistance 109.55
Support 123.32
High 216.99
High Date 01/26/2018
Low 122.13
Low Date 10/12/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 229.78
Support 170.28
Low 115.97
Low Date 02/11/2016
High 216.99
High Date 01/26/2018
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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