The Greedy Trader Weekly Analysis
Sign In Jun 15, 2018
Skip Navigation Links
   Home
   AnalysisExpand    Analysis
   AlertsExpand    Alerts
   IndustriesExpand    Industries
   Stock PickExpand    Stock Pick
   MembersExpand    Members
   ResourcesExpand    Resources
   About UsExpand    About Us
TA Search
Yearly Pattern:Ascending Triangle
Number of records: 3
Symbol:  

• Symbol Lookup
• Add to Watch List
• Candlestick Patterns
• Stock Technical Indicators
• Stock Trends Analysis
• Market Sector Rank
• Stock Trading Signals
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
Centene Corporation
Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionLane's Stochastic is overboughtWilliams' Percentage Range is strongly overbought
Daily :Lane's Stochastic is overboughtLane's Stochastic bearish divergence
Move cursor over the icon to see details.

It was a first positive week for the Centene Corporation (CNC). During the week, the CNC gained 2.24 points, or 1.91%, and closed at 119.81 on Friday, June 08, 2018. Weekly volume was -36% below average.

Long-term trend: [See CNC long-term trend chart]
A long-term uptrend had started on April 14, 2008 at 13.10 and reached 121.08 on February 19, 2015. CNC gained -107.98 points, or -824.27%, in 357 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (67.56) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 CNC medium-term trend chart]
A medium-term uptrend had started on November 9, 2016 at 50.00 and reached 119.84 on June 7, 2018. CNC gained -69.84 points, or -139.68%, in 82 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 116.25 and resistance is at 122.64. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See CNC weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since April 27, 2018. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See CNC short-term trend chart]
A short-term uptrend had started on February 15, 2018 at 97.61 and reached 119.84 on June 7, 2018. CNC gained -22.23 points, or -22.77%, in 112 days. The chart has formed a Rising Channel chart pattern. The trend support level is at 118.50 and resistance is at 122.20. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a short-term trend.

Daily Technical Indicators: [See CNC 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. Daily Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic 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 June 7, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 68.66
Williams' Percentage Range (W%R) 21.50
Lane's Stochastic (%D-Slow) 88.71
Overbought Bearish
Greed/Fear Indicator (GFI) 78.63
Moving Average Converg./Diverg. (MACD) 1.94
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 77.09
Williams' Percentage Range (W%R) 7.30
Strong Overbought
Lane's Stochastic (%D-Slow) 88.07
Overbought
Greed/Fear Indicator (GFI) 80.75
Overbought
Moving Average Converg./Diverg. (MACD) 4.70
Trading Signals
Description Value Chart
Monthly Trendline Resistance 122.64
Weekly Trendline Resistance 122.20
Upper Bollinger Band 120.54
Price 119.81
Daily Stochastic Crossing 119.51
Weekly Trendline Support 118.50
Weekly Stochastic Crossing 118.41
20 Day Moving Average 116.66
Monthly Trendline Support 116.25
Parabolic System 115.81
Lower Bollinger Band 112.73
50 Day Moving Average 112.58
Sector and Industry
Description Name Rank
Sector Healthcare 7
Industry Health Care Plans 124
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Low 111.36
Low Date 05/09/2018
High 119.84
High Date 06/07/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 122.20
Support 118.50
Low 97.61
Low Date 02/15/2018
High 119.84
High Date 06/07/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 122.64
Support 116.25
Low 50.00
Low Date 11/09/2016
High 119.84
High Date 06/07/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 47.36
Low Date 02/09/2016
High 119.84
High Date 06/07/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 78.43
Support 67.56
Low 13.10
Low Date 04/14/2008
High 121.08
High Date 02/19/2015
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.

Copyright© 2004-2016 All rights reserved.