The Greedy Trader Weekly Analysis
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Quarterly Pattern:Rising Pennant
Number of records: 4
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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 :Relative Strength Index and Lane's Stochastic oversoldWilliams' Percentage Range is strongly oversoldBroken trend support line
Daily :Williams' Percentage Range is oversoldStochastic has raised above the signal lineLane's Stochastic and MACD bullish divergenceA Parabolic SAR indicator is below and near the 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 gave back -0.61 points, or -0.41%, and closed at 148.06 on Friday, July 06, 2018. Weekly volume was 8% above average.

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 (164.71) 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 145.00 on July 2, 2018. AMG lost 71.99 points, or 33.18%, in 22 weeks. The chart has formed a Falling Wedge chart pattern. The trend support level is at 142.50 and resistance is at 150.42. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a medium-term trend.

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

The weekly MACD line is below its signal line since February 2, 2018. This is an indication that the medium-term trend is down. 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 June 7, 2018 at 168.19 and reached 145.00 on July 2, 2018. AMG lost 23.19 points, or 13.79%, in 25 days. The price is now at the 13.20% retracement level.

Daily Technical Indicators: [See AMG daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. 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. Daily Lane's Stochastic and MACD have bullish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.

The daily MACD line is below its signal line since June 12, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

A Parabolic SAR (stop and reversal) indicator (148.7) comes close to the price (148.06). It indicates that the trend is getting weaker. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 29.51
Williams' Percentage Range (W%R) 87.50
Oversold
Lane's Stochastic (%D-Slow) 24.34
Bullish
Greed/Fear Indicator (GFI) 22.13
Moving Average Converg./Diverg. (MACD) -3.73 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 18.26
Oversold
Williams' Percentage Range (W%R) 94.80
Strong Oversold
Lane's Stochastic (%D-Slow) 15.12
Oversold
Greed/Fear Indicator (GFI) 19.39
Oversold
Moving Average Converg./Diverg. (MACD) -6.41 Bullish
Trading Signals
Description Value Chart
Yearly Trendline Support 164.71
Upper Bollinger Band 163.33
50 Day Moving Average 160.07
20 Day Moving Average 153.67
Quarterly Trendline Resistance 150.42
Parabolic System 148.70
Price 148.06
Weekly Stochastic Crossing 148.05
Daily Stochastic Crossing 147.69
Lower Bollinger Band 143.42
Quarterly Trendline Support 142.50
Sector and Industry
Description Name Rank
Sector Financial 3
Industry Asset Management 28
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 155.49
High Date 06/20/2018
Low 145.00
Low Date 07/02/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 168.19
High Date 06/07/2018
Low 145.00
Low Date 07/02/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 169.88
High Date 05/21/2018
Low 145.00
Low Date 07/02/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Valid
Resistance 150.42
Support 142.50
High 216.99
High Date 01/26/2018
Low 145.00
Low Date 07/02/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 224.21
Support 164.71
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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