The Greedy Trader Weekly Analysis
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Monthly Pattern:Descending Triangle
Number of records: 1
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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
American Water Works Company Inc
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Summary:
Weekly :Stochastic signal line moved below overbought areaBroken trend support line
Daily :Relative Strength Index oversoldWilliams' Percentage Range and Lane's Stochastic are strongly oversoldPrice has crossed below the 50 Day Moving Average
Move cursor over the icon to see details.

It was the negative week for the American Water Works Company Inc (AWK). During the week, the AWK dropped -3.03 points, or -3.63%, and closed at 80.45 on Friday, May 18, 2018. It was the worst weekly loss since February 9, 2018. Weekly volume was -14% below average.

Long-term trend: [See AWK long-term trend chart]
A long-term downtrend had started on December 11, 2017 at 92.37 and reached 76.04 on February 8, 2018. AWK lost 16.33 points, or 17.68%, in 8 weeks. The price is now at the 27.01% retracement level.

Medium-term trend: [See AWK medium-term trend chart]
A medium-term uptrend had started on February 8, 2018 at 76.04 and reached 87.19 on April 30, 2018. AWK gained -11.15 points, or -14.66%, in 11 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (83.79) 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. AWK 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 medium-term trend.

Weekly Technical Indicators: [See AWK weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 link to access Lane's Stochastic help.

The weekly MACD line is above its signal line since April 20, 2018. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See AWK short-term trend chart]
A short-term downtrend had started on April 30, 2018 at 87.19 and reached 79.93 on May 18, 2018. AWK lost 7.26 points, or 8.33%, in 18 days. The price is now at the 7.16% retracement level.

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

The daily MACD line is below its signal line since May 4, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.

During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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) 15.05
Oversold
Williams' Percentage Range (W%R) 90.60
Strong Oversold
Lane's Stochastic (%D-Slow) 6.96
Strong Oversold
Greed/Fear Indicator (GFI) 10.46
Oversold
Moving Average Converg./Diverg. (MACD) 0.08
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 54.64
Williams' Percentage Range (W%R) 71.80
Lane's Stochastic (%D-Slow) 71.45
Greed/Fear Indicator (GFI) 50.65
Moving Average Converg./Diverg. (MACD) -0.29
Trading Signals
Description Value Chart
Monthly Trendline Resistance 87.70
Upper Bollinger Band 87.02
Weekly Stochastic Crossing 84.44
20 Day Moving Average 84.03
Monthly Trendline Support 83.79
Parabolic System 83.27
50 Day Moving Average 82.59
Price 80.45
Daily Stochastic Crossing 80.22
Lower Bollinger Band 78.80
Sector and Industry
Description Name Rank
Sector Utilities 7
Industry Water Utilities 59
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 87.19
High Date 04/30/2018
Low 79.93
Low Date 05/18/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 87.19
High Date 04/30/2018
Low 79.93
Low Date 05/18/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 87.70
Support 83.79
Low 76.04
Low Date 02/08/2018
High 87.19
High Date 04/30/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 92.37
High Date 12/11/2017
Low 76.04
Low Date 02/08/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 19.41
Low Date 05/25/2010
High 92.37
High Date 12/11/2017
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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