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Monthly Pattern:Ascending Triangle
Number of records: 3
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Chart Analysis and Chart Pattern Recognition – Ascending Triangle Pattern
The ascending triangle pattern is a variation of symmetrical triangle formation that has a flat resistance line and a rising support line. The higher lows indicate the increasing demand and give the ascending triangle definitive bullish bias. The ascending triangle usually represents an accumulation stage in bullish market. The ascending triangle is considered as a continuation pattern, especially in an uptrend, but it may also mark a reversal in a downtrend. Volume usually increases on a breakout move. After breakout (similar to rectangle), resistance may turn into potential support and vice versa.
Ascending Triangle Screening page presents a list of stocks forming an Ascending Triangle Pattern.
Tips:
# 1As a continuation pattern, an ascending triangle usually appears within a young trend, characterized by neutral long-term indicators and overbought short-term indicators. An ascending triangle resets short-term indicators to neutral and then continues the movement in parent's direction.
# 2 As a reversal formation, an ascending triangle appears in a mature downtrend, characterized by oversold short-term and long-term indicators. This situation usually generates bullish 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 line.
Ascending Triangle Pattern,Ascending Triangle,Ascending Triangle Chart Pattern,Trend Support, chart pattern, chart, pattern, technical analysis, signals, chart analysis, pattern recognition, screening, technical trading
Acuity Brands Inc
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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is oversoldStochastic signal line moved above oversold areaBroken trend resistance line
Daily :Williams' Percentage Range is overboughtMACD bearish divergencePrice is close to the 50 Day Moving AverageThe price moved above the moving average in the center of the Bollinger BandsThe period of low volatility of the stock price
Move cursor over the icon to see details.

It was a first positive week for the Acuity Brands Inc (AYI). During the week, the AYI gained 3.25 points, or 2.74%, and closed at 121.84 on Friday, June 08, 2018. Weekly volume was -20% below average.

AYI is a member of Services Sector. Services is the second 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 AYI long-term trend chart]
A long-term downtrend had started on August 23, 2016 at 280.89 and reached 109.98 on May 7, 2018. AYI lost 170.91 points, or 60.85%, in 88 weeks. The price is now at the 6.94% retracement level.

Medium-term trend: [See AYI medium-term trend chart]
A medium-term downtrend had started on January 8, 2018 at 186.99 and reached 109.98 on May 7, 2018. AYI lost 77.01 points, or 41.18%, in 17 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (86.60) 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. AYI 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 medium-term trend.

Weekly Technical Indicators: [See AYI weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range. During the last week, weekly Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish 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.

The weekly MACD line is below its signal line since February 2, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See AYI short-term trend chart]
A short-term uptrend had started on May 7, 2018 at 109.98 and reached 122.46 on June 7, 2018. AYI gained -12.48 points, or -11.35%, in 31 days. Price is near the trend high.

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

The daily MACD line is above its signal line since May 10, 2018. This is an indication that the short-term trend is up.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 6.53% on Friday. It is 54.77% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Price is close to the 50 Day Moving Average. While daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance 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) 60.33
Williams' Percentage Range (W%R) 16.00
Overbought
Lane's Stochastic (%D-Slow) 66.33
Greed/Fear Indicator (GFI) 70.22
Moving Average Converg./Diverg. (MACD) -1.13 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 32.45
Williams' Percentage Range (W%R) 81.80
Oversold
Lane's Stochastic (%D-Slow) 22.78
Greed/Fear Indicator (GFI) 26.05
Moving Average Converg./Diverg. (MACD) -12.39
Trading Signals
Description Value Chart
Upper Bollinger Band 123.66
50 Day Moving Average 122.65
Price 121.84
Daily Stochastic Crossing 121.14
20 Day Moving Average 118.78
Parabolic System 116.71
Weekly Stochastic Crossing 116.37
Lower Bollinger Band 115.72
Monthly Trendline Resistance 107.10
Sector and Industry
Description Name Rank
Sector Services 8
Industry Electronics Wholesale 78
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 116.71
Low Date 06/04/2018
High 122.46
High Date 06/07/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 109.98
Low Date 05/07/2018
High 122.46
High Date 06/07/2018
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 107.10
Support 86.60
High 186.99
High Date 01/08/2018
Low 109.98
Low Date 05/07/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 208.83
High Date 07/25/2017
Low 109.98
Low Date 05/07/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 280.89
High Date 08/23/2016
Low 109.98
Low Date 05/07/2018
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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