The Greedy Trader Weekly Analysis
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Yearly Pattern:Broadening Descending Wedge
Number of records: 6
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Chart Analysis and Chart Pattern Recognition – Broadening Formations

Broadening Formations, including Broadening Ascending Wedge, present inverted triangle patterns. They start with narrow fluctuations, and then widen out between diverging boundary lines. The pattern, where one of the boundary lines is horizontal, is referred to as a right-angled formation. Broadening formations usually mark the reversal when confirmed by other technical indicators.
Broadening formations Screening page presents a list of stocks forming Broadening formation Pattern.
Tips:
# 1
As a reversal formation, Broadening formation 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.
# 2 For the best results, chart patterns and trend resistance support should be considered together with other technical analysis signals and technical trading techniques.

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- 3/15/2024 -
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Charter Communications (CHTR) Technical Analysis

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Summary:
Weekly :Oversold industryWilliams' Percentage Range and Lane's Stochastic are oversold
Daily :Lane's Stochastic is overboughtThe price has risen above the Parabolic SAR
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It was a first positive week for the Charter Communications (CHTR). During the week, the CHTR gained 6.87 points, or 2.42%, and closed at 290.65 on Friday, March 15, 2024. It was the best weekly gain since December 15, 2023. Weekly volume was 43% above average.

CHTR is a member of Cable & Satellite Industry. Cable & Satellite is the seventh most oversold industry. 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 CHTR long-term trend chart]
A long-term downtrend had started on September 2, 2021 at 825.62 and reached 270.41 on March 6, 2024. CHTR lost 555.21 points, or 67.25%, in 130 weeks. Price is near the trend low.

Medium-term trend: [See CHTR medium-term trend chart]
A medium-term downtrend had started on October 16, 2023 at 458.30 and reached 270.41 on March 6, 2024. CHTR lost 187.89 points, or 41.00%, in 20 weeks. The price is now at the 10.77% retracement level.

Weekly Technical Indicators: [See CHTR weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range and 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is below its signal line since October 27, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.

Short-term trend: [See CHTR short-term trend chart]
A short-term uptrend had started on March 6, 2024 at 270.41 and reached 301.62 on March 15, 2024. CHTR gained -31.21 points, or -11.54%, in 9 days. The price is now at the 35.15% retracement level.

Daily Technical Indicators: [See CHTR 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 February 21, 2024. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.54
Williams' Percentage Range (W%R) 26.00
Lane's Stochastic (%D-Slow) 85.57
Overbought
Greed/Fear Indicator (GFI) 69.36
Moving Average Converg./Diverg. (MACD) -11.30
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 27.87
Williams' Percentage Range (W%R) 83.70
Oversold
Lane's Stochastic (%D-Slow) 12.32
Oversold
Greed/Fear Indicator (GFI) 22.06
Moving Average Converg./Diverg. (MACD) -17.58
Trading Signals
Description Value Chart
50 Day Moving Average 323.84
Upper Bollinger Band 309.27
Daily Stochastic Crossing 296.25
Price 290.65
20 Day Moving Average 290.55
Weekly Stochastic Crossing 284.84
Lower Bollinger Band 282.25
Parabolic System 275.27
Sector and Industry
Description Name Rank
Sector Communication Services 5
Industry Cable & Satellite 7
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 270.41
Low Date 03/06/2024
High 301.62
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 270.41
Low Date 03/06/2024
High 301.62
High Date 03/15/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 400.07
High Date 12/28/2023
Low 270.41
Low Date 03/06/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 458.30
High Date 10/16/2023
Low 270.41
Low Date 03/06/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 825.62
High Date 09/02/2021
Low 270.41
Low Date 03/06/2024
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.