The Greedy Trader Weekly Analysis
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Monthly Pattern:Symmetric Triangle
Number of records: 4
Symbol:  

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Symmetric Triangle Chart Pattern Analysis - Symmetric Triangle Pattern.
A symmetric triangle pattern represents the area of indecision where the movement direction is questioned. Chart Pattern Analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of a larger trend, but it may also mark the trend reversal. Volume diminishes during the formation and explodes at the breakout. After breakout (similar to rectangle), support may turn into potential resistance and vice versa.
Tips:
# 1 As a continuation pattern, the symmetric triangle usually appears within a young trend characterized by neutral long-term indicators and overbought/oversold short-term indicators. The symmetric triangle resets short-term indicators to neutral and then continues movement in parent's direction.
# 2 As a reversal formation, the symmetric triangle chart pattern appears in a mature trend characterized by overbought/oversold long-term and short-term indicators. This situation usually generates divergence on long-term indicators. For the best results, the symmetric triangle pattern should be considered together with other chart pattern analysis, technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance line.
Symmetric Triangle Pattern,Symmetric Triangle Chart Pattern,Chart Pattern Analysis,chart pattern, charts, pattern, chart analysis, pattern recognition, screener, screening, Trading Signals
Best Buy Co., Inc.
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Summary:
Weekly :Overbought sectorLane's Stochastic is overboughtBroken trend resistance lineBroken trend resistance line
Daily :A Parabolic SAR indicator is below and near the price
Move cursor over the icon to see details.

It was the negative week for the Best Buy Co., Inc. (BBY). During the week, the BBY gave back -0.48 points, or -0.67%, and closed at 70.76 on Friday, February 09, 2018. Weekly volume was -9% below average.

BBY is a member of Services Sector. Services is the 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 BBY long-term trend chart]
A long-term uptrend had started on December 27, 2012 at 11.20 and reached 78.59 on January 23, 2018. BBY gained -67.39 points, or -601.70%, in 264 weeks. The chart has formed a Rising Pennant chart pattern. The uptrend resistance line (35.52) 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 BBY medium-term trend chart]
A medium-term uptrend had started on January 15, 2016 at 25.31 and reached 78.59 on January 23, 2018. BBY gained -53.28 points, or -210.51%, in 105 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (60.70) 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 medium-term trend.

Weekly Technical Indicators: [See BBY weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. 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 December 1, 2017. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See BBY short-term trend chart]
A short-term downtrend had started on January 23, 2018 at 78.59 and reached 65.05 on February 6, 2018. BBY lost 13.54 points, or 17.23%, in 14 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 61.25 and resistance is at 75.51. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a short-term trend.

Daily Technical Indicators: [See BBY daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since January 29, 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.

A Parabolic SAR (stop and reversal) indicator (71.23) comes close to the price (70.76). It indicates that the trend is getting weaker. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 32.59
Williams' Percentage Range (W%R) 67.10
Lane's Stochastic (%D-Slow) 33.72
Greed/Fear Indicator (GFI) 33.08
Moving Average Converg./Diverg. (MACD) 1.25
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 72.91
Williams' Percentage Range (W%R) 33.60
Lane's Stochastic (%D-Slow) 84.40
Overbought
Greed/Fear Indicator (GFI) 70.77
Moving Average Converg./Diverg. (MACD) 3.74
Trading Signals
Description Value Chart
Monthly Trendline Resistance 82.04
Upper Bollinger Band 78.00
Weekly Stochastic Crossing 75.74
Weekly Trendline Resistance 75.51
20 Day Moving Average 73.87
Parabolic System 71.23
Price 70.76
Daily Stochastic Crossing 69.42
Quarterly Trendline Resistance 69.06
50 Day Moving Average 69.00
Lower Bollinger Band 65.87
Weekly Trendline Support 61.25
Quarterly Trendline Support 60.70
Sector and Industry
Description Name Rank
Sector Services 9
Industry Electronics Stores 151
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 65.05
Low Date 02/06/2018
High 72.31
High Date 02/07/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 75.51
Support 61.25
High 78.59
High Date 01/23/2018
Low 65.05
Low Date 02/06/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 82.04
Support 54.70
Low 51.61
Low Date 09/19/2017
High 78.59
High Date 01/23/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 69.06
Support 60.70
Low 25.31
Low Date 01/15/2016
High 78.59
High Date 01/23/2018
Description Value
Direction Up
Chart Pattern Rising Pennant
Status Broken Resistance
Resistance 36.19
Support 35.52
Low 11.20
Low Date 12/27/2012
High 78.59
High Date 01/23/2018
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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