The Greedy Trader Weekly Analysis
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Weekly Pattern:Descending Triangle
Number of records: 2
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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 uptrend resistance line - uptrend exhaustionBroken uptrend resistance line - uptrend exhaustionRelative Strength Index and Lane's Stochastic are overboughtWilliams' Percentage Range is strongly overboughtLane's Stochastic bearish divergence
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARTrend resistance at 1880.28
Move cursor over the icon to see details.

It was a sixth consecutive positive week for the Amazon.com (AMZN). During the week, the AMZN gained 63.01 points, or 3.46%, and closed at 1886.30 on Friday, August 10, 2018. Weekly volume was -12% below 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 1914.57 on August 9, 2018. AMZN gained -1909.06 points, or -34647.19%, in 879 weeks. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The uptrend resistance line (74.66) 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 long-term trend.

Medium-term trend: [See AMZN medium-term trend chart]
A medium-term uptrend had started on October 24, 2014 at 284.00 and reached 1914.57 on August 9, 2018. AMZN gained -1630.57 points, or -574.14%, in 197 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (1117.60) 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 AMZN weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Lane's Stochastic or strongly 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, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since June 1, 2018. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. 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 April 4, 2018 at 1352.88 and reached 1914.57 on August 9, 2018. AMZN gained -561.69 points, or -41.52%, in 127 days. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (1880.28). 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 short-term trend.

Daily Technical Indicators: [See AMZN daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic.

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

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 63.10
Williams' Percentage Range (W%R) 14.90
Overbought
Lane's Stochastic (%D-Slow) 87.21
Overbought
Greed/Fear Indicator (GFI) 78.48
Moving Average Converg./Diverg. (MACD) 31.38
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 88.67
Overbought
Williams' Percentage Range (W%R) 4.60
Strong Overbought
Lane's Stochastic (%D-Slow) 86.87
Overbought Bearish
Greed/Fear Indicator (GFI) 82.53
Overbought
Moving Average Converg./Diverg. (MACD) 123.06
Trading Signals
Description Value Chart
Daily Stochastic Crossing 1900.36
Upper Bollinger Band 1892.11
Price 1886.30
Weekly Trendline Resistance 1880.28
Weekly Stochastic Crossing 1874.26
Monthly Trendline Resistance 1835.88
20 Day Moving Average 1832.46
Weekly Trendline Support 1788.46
Parabolic System 1763.62
50 Day Moving Average 1759.79
Lower Bollinger Band 1758.47
Monthly Trendline Support 1735.75
Sector and Industry
Description Name Rank
Sector Technology 6
Industry Internet Software & Svcs 92
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 1646.31
Low Date 06/25/2018
High 1914.57
High Date 08/09/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Resistance
Resistance 1880.28
Support 1788.46
Low 1352.88
Low Date 04/04/2018
High 1914.57
High Date 08/09/2018
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 1835.88
Support 1735.75
Low 931.75
Low Date 09/26/2017
High 1914.57
High Date 08/09/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 1391.15
Support 1117.60
Low 284.00
Low Date 10/24/2014
High 1914.57
High Date 08/09/2018
Description Value
Direction Up
Chart Pattern Broadening Right-Angled, Ascending Wedge
Status Broken Resistance
Resistance 543.87
Support 74.66
Low 5.51
Low Date 10/01/2001
High 1914.57
High Date 08/09/2018
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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