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Yearly Pattern:Falling 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.

Archive
- 12/8/2017
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Affiliated Managers Group Inc
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Summary:
Weekly :Overbought sectorBroken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is overboughtLane's Stochastic bearish divergenceWeekly  MACD line has moved above its signal lineBroken trend resistance line
Daily :Relative Strength Index and Williams' Percentage Range are overboughtStochastic signal line moved below overbought areaThe price has risen above the Parabolic SAR20 Day Moving Average has crossed above the 50 Day Moving Average
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It was a fourth positive week after 3 consecutive negative weeks for the Affiliated Managers Group Inc (AMG). During the week, the AMG gained 2.58 points, or 1.30%, and closed at 200.43 on Friday, December 08, 2017. Weekly volume was -45% below average.

AMG is a member of Financial Sector. Financial 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 AMG long-term trend chart]
A long-term downtrend had started on April 29, 2015 at 230.63 and reached 115.97 on February 11, 2016. AMG lost 114.66 points, or 49.72%, in 41 weeks. The chart has formed a Falling Pennant chart pattern. The downtrend resistance line (151.55) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. AMG may retest the broken resistance line. It is considered to be a support 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 resistance line in a long-term trend.

Medium-term trend: [See AMG medium-term trend chart]
A medium-term uptrend had started on February 11, 2016 at 115.97 and reached 202.09 on November 30, 2017. AMG gained -86.12 points, or -74.26%, in 94 weeks. The chart has formed a Rising Pennant chart pattern. The uptrend resistance line (161.29) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 medium-term trend.

Weekly Technical Indicators: [See AMG weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Weekly Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 and 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 AMG short-term trend chart]
A short-term uptrend had started on May 18, 2017 at 148.81 and reached 202.09 on November 30, 2017. AMG gained -53.28 points, or -35.80%, in 196 days. The chart has formed a Rising Channel chart pattern. The trend support level is at 180.48 and resistance is at 208.13. 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 short-term trend.

Daily Technical Indicators: [See AMG daily technical indicators chart]
Daily Relative Strength Index and Williams' Percentage Range are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Use the following link to access Relative Strength Index help.

The daily MACD line is above its signal line since November 20, 2017. This is an indication that the short-term trend is up.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish 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) 89.09
Overbought
Williams' Percentage Range (W%R) 14.00
Overbought
Lane's Stochastic (%D-Slow) 70.02
Greed/Fear Indicator (GFI) 81.71
Overbought
Moving Average Converg./Diverg. (MACD) 2.17
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 69.62
Williams' Percentage Range (W%R) 10.00
Overbought
Lane's Stochastic (%D-Slow) 61.62
Bearish
Greed/Fear Indicator (GFI) 72.11
Moving Average Converg./Diverg. (MACD) 6.97
Trading Signals
Description Value Chart
Weekly Trendline Resistance 208.13
Monthly Trendline Resistance 207.12
Upper Bollinger Band 206.01
Price 200.43
Daily Stochastic Crossing 198.78
Parabolic System 195.80
Weekly Stochastic Crossing 193.58
20 Day Moving Average 191.98
50 Day Moving Average 191.65
Lower Bollinger Band 181.82
Weekly Trendline Support 180.48
Monthly Trendline Support 177.31
Quarterly Trendline Resistance 164.03
Quarterly Trendline Support 161.29
Sector and Industry
Description Name Rank
Sector Financial 9
Industry Asset Management 134
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 178.87
Low Date 11/15/2017
High 202.09
High Date 11/30/2017
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 208.13
Support 180.48
Low 148.81
Low Date 05/18/2017
High 202.09
High Date 11/30/2017
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 207.12
Support 177.31
Low 130.48
Low Date 11/08/2016
High 202.09
High Date 11/30/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Pennant
Status Broken Resistance
Resistance 164.03
Support 161.29
Low 115.97
Low Date 02/11/2016
High 202.09
High Date 11/30/2017
Description Value
Direction Down
Chart Pattern Falling Pennant
Status Broken Resistance
Resistance 97.10
Support 151.55
High 230.63
High Date 04/29/2015
Low 115.97
Low Date 02/11/2016
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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