The Greedy Trader Weekly Analysis
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Monthly Pattern:Ascending Triangle
Number of records: 4
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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 :Broken trend resistance lineLane's Stochastic is oversoldStochastic has raised above the signal linePrice is near the Fibonacci 23.6% retracement level
Daily :Lane's Stochastic is overboughtPrice is close to the 50 Day Moving AverageThe price has risen above the Parabolic SARThe price moved above the moving average in the center of the Bollinger Bands
Move cursor over the icon to see details.

It was a first positive week after 3 consecutive negative weeks for the Acuity Brands Inc (AYI). During the week, the AYI gained 7.36 points, or 6.00%, and closed at 130.02 on Friday, November 30, 2018. Weekly volume was -52% below average.

Long-term trend: [See AYI long-term trend chart]
A long-term uptrend had started on May 7, 2018 at 109.98 and reached 173.01 on September 21, 2018. AYI gained -63.03 points, or -57.31%, in 19 weeks. The chart has formed a Falling Pennant chart pattern. The uptrend resistance line (117.50) 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 AYI medium-term trend chart]
A medium-term downtrend had started on September 21, 2018 at 173.01 and reached 116.15 on October 24, 2018. AYI lost 56.86 points, or 32.87%, in 4 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Weekly Technical Indicators: [See AYI weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). 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 link to access Lane's Stochastic help.

The weekly MACD line is below its signal line since October 12, 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 November 20, 2018 at 120.42 and reached 130.88 on November 29, 2018. AYI gained -10.46 points, or -8.69%, in 9 days. The price is now at the 8.22% retracement level.

Daily Technical Indicators: [See AYI daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic.

The daily MACD line is above its signal line since October 29, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.

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 price has moved above the moving average in the center of the Bollinger Bands. 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) 57.22
Williams' Percentage Range (W%R) 44.20
Lane's Stochastic (%D-Slow) 81.85
Overbought
Greed/Fear Indicator (GFI) 64.94
Moving Average Converg./Diverg. (MACD) -1.46
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 39.80
Williams' Percentage Range (W%R) 78.50
Lane's Stochastic (%D-Slow) 18.55
Oversold
Greed/Fear Indicator (GFI) 27.61
Moving Average Converg./Diverg. (MACD) -1.96
Trading Signals
Description Value Chart
Upper Bollinger Band 132.78
50 Day Moving Average 131.07
Price 130.02
Daily Stochastic Crossing 128.85
20 Day Moving Average 126.68
Parabolic System 121.31
Lower Bollinger Band 120.68
Weekly Stochastic Crossing 119.93
Quarterly Trendline Support 117.50
Quarterly Trendline Resistance 116.10
Sector and Industry
Description Name Rank
Sector Services 7
Industry Electronics Wholesale 47
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 120.42
Low Date 11/20/2018
High 130.88
High Date 11/29/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 134.68
High Date 11/07/2018
Low 120.42
Low Date 11/20/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 173.01
High Date 09/21/2018
Low 116.15
Low Date 10/24/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Falling Pennant
Status Broken Resistance
Resistance 116.10
Support 117.50
Low 109.98
Low Date 05/07/2018
High 173.01
High Date 09/21/2018
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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