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.
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Acuity Brands Inc
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Summary:
Weekly :Relative Strength Index and Williams' Percentage Range are overboughtLane's Stochastic is strongly overboughtStochastic has declined below the signal lineBroken trend resistance line
Daily :Stochastic signal line moved below overbought areaRelative Strength Index, Lane's Stochastic and MACD bearish divergence
Move cursor over the icon to see details.

It was a fourth consecutive positive week for the Acuity Brands Inc (AYI). During the week, the AYI gained 3.57 points, or 2.34%, and closed at 156.41 on Friday, September 07, 2018. Weekly volume was -40% 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 109.98 on May 7, 2018. AYI lost 170.91 points, or 60.85%, in 88 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (92.65) is broken. A broken support is considered to be a long-term bullish signal. 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 uptrend had started on May 7, 2018 at 109.98 and reached 161.34 on September 7, 2018. AYI gained -51.36 points, or -46.70%, in 17 weeks. The price is now at the 9.60% retracement level.

Weekly Technical Indicators: [See AYI weekly technical indicators chart]
Weekly Relative Strength Index and Williams' Percentage Range are overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Williams' Percentage Range or strongly overbought weekly Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). 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 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 15, 2018. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. 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 September 4, 2018 at 149.86 and reached 161.34 on September 7, 2018. AYI gained -11.48 points, or -7.66%, in 3 days. The price is now at the 42.94% retracement level.

Daily Technical Indicators: [See AYI daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Daily Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index, Lane's Stochastic and 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 September 6, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 72.93
Bearish
Williams' Percentage Range (W%R) 20.30
Lane's Stochastic (%D-Slow) 58.22
Bearish
Greed/Fear Indicator (GFI) 70.27
Moving Average Converg./Diverg. (MACD) 4.76 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 81.32
Overbought
Williams' Percentage Range (W%R) 11.00
Overbought
Lane's Stochastic (%D-Slow) 90.53
Strong Overbought
Greed/Fear Indicator (GFI) 81.12
Overbought
Moving Average Converg./Diverg. (MACD) -4.75
Trading Signals
Description Value Chart
Upper Bollinger Band 159.53
Weekly Stochastic Crossing 158.91
Price 156.41
Daily Stochastic Crossing 156.05
Parabolic System 149.71
20 Day Moving Average 147.28
50 Day Moving Average 137.75
Lower Bollinger Band 135.41
Sector and Industry
Description Name Rank
Sector Services 7
Industry Electronics Wholesale 145
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 149.86
Low Date 09/04/2018
High 161.34
High Date 09/07/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 149.86
Low Date 09/04/2018
High 161.34
High Date 09/07/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 133.18
Low Date 08/08/2018
High 161.34
High Date 09/07/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 109.98
Low Date 05/07/2018
High 161.34
High Date 09/07/2018
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 120.55
Support 92.65
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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