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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
Archive
- 12/1/2017
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Acuity Brands Inc
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Summary:
Weekly :Weekly  MACD line has moved above its signal lineBroken trend resistance lineBroken trend resistance line
Daily :Williams' Percentage Range is overboughtPrice has crossed above the 50 Day Moving AverageBroken trend resistance lineThe 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 for the Acuity Brands Inc (AYI). During the week, the AYI gained 9.02 points, or 5.71%, and closed at 167.01 on Friday, December 01, 2017. It was the best weekly gain since June 30, 2017. Weekly volume was -8% below average.

Long-term trend: [See AYI long-term trend chart]
A long-term downtrend had started on August 23, 2016 at 280.89 and reached 153.28 on September 19, 2017. AYI lost 127.61 points, or 45.43%, in 56 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (120.68) 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 long-term trend.

Medium-term trend: [See AYI medium-term trend chart]
A medium-term downtrend had started on July 25, 2017 at 208.83 and reached 153.28 on September 19, 2017. AYI lost 55.55 points, or 26.60%, in 8 weeks. The chart has formed a Ascending Triangle chart pattern. The downtrend resistance line (156.61) 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 technical indicators are neutral.

During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. 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 October 26, 2017 at 155.01 and reached 174.77 on November 30, 2017. AYI gained -19.76 points, or -12.75%, in 35 days. The chart has formed a Falling Wedge chart pattern. The uptrend resistance line (155.78) 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 short-term trend.

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. 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 Williams' Percentage Range help.

The daily MACD line is above its signal line since November 27, 2017. This is an indication that the short-term trend is up.

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.

During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and 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) 60.80
Williams' Percentage Range (W%R) 16.20
Overbought
Lane's Stochastic (%D-Slow) 71.40
Greed/Fear Indicator (GFI) 72.01
Moving Average Converg./Diverg. (MACD) -0.23
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 42.42
Williams' Percentage Range (W%R) 66.70
Lane's Stochastic (%D-Slow) 34.16
Greed/Fear Indicator (GFI) 37.75
Moving Average Converg./Diverg. (MACD) -8.70
Trading Signals
Description Value Chart
Upper Bollinger Band 171.66
Daily Stochastic Crossing 170.97
Price 167.01
50 Day Moving Average 164.68
20 Day Moving Average 163.25
Quarterly Trendline Resistance 162.95
Weekly Stochastic Crossing 162.52
Weekly Trendline Resistance 161.72
Parabolic System 158.93
Monthly Trendline Resistance 157.89
Lower Bollinger Band 157.02
Monthly Trendline Support 156.61
Weekly Trendline Support 155.78
Sector and Industry
Description Name Rank
Sector Services 4
Industry Electronics Wholesale 64
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 156.27
Low Date 11/27/2017
High 174.77
High Date 11/30/2017
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 161.72
Support 155.78
Low 155.01
Low Date 10/26/2017
High 174.77
High Date 11/30/2017
Description Value
Direction Down
Chart Pattern Ascending Triangle
Status Broken Resistance
Resistance 157.89
Support 156.61
High 208.83
High Date 07/25/2017
Low 153.28
Low Date 09/19/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 162.95
Support 120.68
High 280.89
High Date 08/23/2016
Low 153.28
Low Date 09/19/2017
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 20.02
Low Date 03/09/2009
High 280.89
High Date 08/23/2016
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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