The Greedy Trader Weekly Analysis
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Monthly Pattern:Symmetric Triangle
Number of records: 1
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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 sectorBroken trend resistance lineStochastic signal line moved above oversold area
Daily :The price has fallen below the Parabolic SARThe price touches the lower Bollinger Band
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It was the negative week for the Best Buy Co., Inc. (BBY). During the week, the BBY dropped -4.10 points, or -5.70%, and closed at 67.79 on Friday, November 09, 2018. BBY was trading at average weekly trading volume.

BBY 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 BBY long-term trend chart]
A long-term uptrend had started on December 27, 2012 at 11.20 and reached 84.37 on August 22, 2018. BBY gained -73.17 points, or -653.30%, in 294 weeks. The chart has formed a Rising Pennant chart pattern. The uptrend resistance line (38.74) 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 downtrend had started on August 22, 2018 at 84.37 and reached 66.08 on October 26, 2018. BBY lost 18.29 points, or 21.68%, in 9 weeks. The price is now at the 9.35% retracement level.

Weekly Technical Indicators: [See BBY weekly technical indicators chart]
Weekly technical indicators are neutral. 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 link to access Lane's Stochastic help.

The weekly MACD line is below its signal line since September 7, 2018. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.

Short-term trend: [See BBY short-term trend chart]
A short-term uptrend had started on October 26, 2018 at 66.08 and reached 75.11 on November 2, 2018. BBY gained -9.03 points, or -13.67%, in 7 days. The price is now at the 81.06% retracement level.

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

The daily MACD line is above its signal line since October 31, 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.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.

The price touches the lower Bollinger Band. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 39.00
Williams' Percentage Range (W%R) 21.70
Lane's Stochastic (%D-Slow) 54.09
Greed/Fear Indicator (GFI) 57.13
Moving Average Converg./Diverg. (MACD) -1.14
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 37.26
Williams' Percentage Range (W%R) 61.30
Lane's Stochastic (%D-Slow) 20.15
Greed/Fear Indicator (GFI) 34.09
Moving Average Converg./Diverg. (MACD) 1.13
Trading Signals
Description Value Chart
Upper Bollinger Band 75.61
Parabolic System 75.19
50 Day Moving Average 74.63
Daily Stochastic Crossing 71.68
20 Day Moving Average 71.29
Weekly Stochastic Crossing 69.68
Price 67.79
Lower Bollinger Band 67.72
Sector and Industry
Description Name Rank
Sector Services 8
Industry Electronics Stores 42
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 73.59
High Date 11/08/2018
Low 67.71
Low Date 11/09/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 66.08
Low Date 10/26/2018
High 75.11
High Date 11/02/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 84.37
High Date 08/22/2018
Low 66.08
Low Date 10/26/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 25.31
Low Date 01/15/2016
High 84.37
High Date 08/22/2018
Description Value
Direction Up
Chart Pattern Rising Pennant
Status Broken Resistance
Resistance 34.68
Support 38.74
Low 11.20
Low Date 12/27/2012
High 84.37
High Date 08/22/2018
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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