The Greedy Trader Weekly Analysis
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Weekly Pattern:Descending Triangle
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Chart Analysis and Chart Pattern Recognition – Descending Triangle Pattern
The descending triangle is a variation of a symmetrical triangle formation that has a flat support line and a falling resistance line. The lower highs indicate the decreasing demand and give the descending triangle definitive bearish bias. The descending triangle usually represents a distribution stage in bearish market. The descending triangle is considered as a continuation pattern, especially in a downtrend, but it may also mark a reversal in an uptrend. Volume usually increases on trend support resistance breakout. After breakout (similar to rectangle), support may turn into potential resistance and vice versa.
Descending Triangle Screening page presents a list of stocks forming Descending Triangle Pattern.
Tips:
# 1 As a continuation pattern, descending triangle usually appears within a young trend, characterized by neutral long-term indicators and oversold short-term indicators. Descending triangle resets short-term indicators to neutral and then continues the movement in parent's direction.
# 2 As a reversal formation, descending triangle appears in a mature uptrend, characterized by overbought long-term and short-term indicators. This situation usually generates bearish divergence on long-term indicators.
# 3 For the best results, chart patterns should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance level. line.
Descending Triangle Pattern,Descending Triangle,Descending Triangle Chart Pattern,Trend support resistance, chart pattern, chart, pattern, technical analysis, signals, chart analysis, pattern recognition, screening, technical trading
Amazon.com
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Summary:
Weekly :Broken trend resistance line
Daily :Bearish Three Inside Down CandlestickDaily  MACD line has moved above its signal linePrice is near the Fibonacci 23.6% retracement level
Move cursor over the icon to see details.

It was a second positive week after 4 consecutive negative weeks for the Amazon.com (AMZN). During the week, the AMZN gained 46.90 points, or 2.82%, and closed at 1712.43 on Friday, November 09, 2018. It was the best weekly gain since September 28, 2018. Weekly volume was 24% above average.

Long-term trend: [See AMZN long-term trend chart]
A long-term uptrend had started on October 1, 2001 at 5.51 and reached 2050.50 on September 4, 2018. AMZN gained -2044.99 points, or -37114.16%, in 883 weeks. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The uptrend resistance line (75.70) 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 AMZN medium-term trend chart]
A medium-term downtrend had started on September 4, 2018 at 2050.50 and reached 1476.36 on October 30, 2018. AMZN lost 574.14 points, or 28%, in 8 weeks. The price is now at the 41.12% retracement level.

Weekly Technical Indicators: [See AMZN weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since September 28, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term downtrend is strong. Use the following link to access a MACD help.

Short-term trend: [See AMZN short-term trend chart]
A short-term uptrend had started on October 30, 2018 at 1476.36 and reached 1784.00 on November 8, 2018. AMZN gained -307.64 points, or -20.84%, in 9 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See AMZN daily technical indicators chart]
Daily technical indicators are neutral.

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

Candlestick pattern: [See AMZN candlestick chart pattern]
On Friday the chart has formed a Bearish Three Inside Down Candlestick pattern. The Bearish Three Inside Down pattern is another name for the Confirmed Bearish Harami pattern. This is a trend-reversal pattern indicating the start of a new downtrend. The reliability of the Bearish Three Inside Down pattern is very high. Use the Technical Stock Screener to see the list of stocks that had a Bearish Three Inside Down Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 45.42
Williams' Percentage Range (W%R) 30.50
Lane's Stochastic (%D-Slow) 73.16
Greed/Fear Indicator (GFI) 62.68
Moving Average Converg./Diverg. (MACD) -57.47
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.47
Williams' Percentage Range (W%R) 55.40
Lane's Stochastic (%D-Slow) 24.62
Greed/Fear Indicator (GFI) 38.30
Moving Average Converg./Diverg. (MACD) 95.39
Trading Signals
Description Value Chart
Upper Bollinger Band 1892.99
50 Day Moving Average 1843.60
Daily Stochastic Crossing 1739.25
Price 1712.43
20 Day Moving Average 1704.32
Weekly Stochastic Crossing 1626.64
Parabolic System 1626.35
Lower Bollinger Band 1546.11
Sector and Industry
Description Name Rank
Sector Technology 3
Industry Internet Software & Svcs 92
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 1476.36
Low Date 10/30/2018
High 1784.00
High Date 11/08/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 2050.50
High Date 09/04/2018
Low 1476.36
Low Date 10/30/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 931.75
Low Date 09/26/2017
High 2050.50
High Date 09/04/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 284.00
Low Date 10/24/2014
High 2050.50
High Date 09/04/2018
Description Value
Direction Up
Chart Pattern Broadening Right-Angled, Ascending Wedge
Status Broken Resistance
Resistance 552.82
Support 75.70
Low 5.51
Low Date 10/01/2001
High 2050.50
High Date 09/04/2018
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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