The Greedy Trader Weekly Analysis
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Monthly Pattern:Rectangle
Number of records: 2
Symbol:  

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Rectangle Chart Pattern - Rectangle Pattern and Chart analysis
A rectangle chart pattern is characterized as a short-term horizontal channel, and it represents a trading range and indecision area that usually resolves in the direction of the main trend. Chart analysis usually considers the rectangle pattern as a continuation formation, but it can also mark significant top and bottom. The rectangle pattern within a younger parent trend has more chances to mark a continuation. To estimate the maturity of the parent trend, consult technical indicators. Volume should increase during breakout, but in contrast with other continuation patterns, the rectangle does not inherit standard volume behavior. After breakout, the rectangle pattern resistance may turn into potential support and vice versa.
Tips:
# 1 As a continuation pattern, the rectangle pattern usually appears within a young trend characterized by neutral long-term indicators and overbought/oversold daily indicators. The pattern resets short-term indicators to neutral and then continues movement in the parent's direction.
# 2 As a reversal formation, the pattern appears in a mature trend characterized by overbought/oversold indicators on long and short time frames. This situation usually generates divergence on weekly indicators.
# 3 For the best results, the rectangle chart pattern should be considered together with other technical analysis signals, chart analysis, and technical trading techniques.
Estimated target: the higher level parent's support/resistance line.
Rectangle, chart pattern, charts, pattern, chart analysis, pattern recognition, screener, screening, Trading Signals
Cognizant Technology Solutions Corp.
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Summary:
Weekly :Trend resistance at 71.86
Daily :The price has risen above the Parabolic SAR
Move cursor over the icon to see details.

It was a first positive week after 6 consecutive negative weeks for the Cognizant Technology Solutions Corp. (CTSH). During the week, the CTSH climbed 0.46 points, or 0.64%, and closed at 71.82 on Friday, December 08, 2017. It was the best weekly gain since October 13, 2017. Weekly volume was 6% above average.

Long-term trend: [See CTSH long-term trend chart]
A long-term uptrend had started on September 30, 2016 at 45.44 and reached 76.51 on October 31, 2017. CTSH gained -31.07 points, or -68.38%, in 56 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 68.02 and resistance is at 77.99. 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 long-term trend.

Medium-term trend: [See CTSH medium-term trend chart]
A medium-term downtrend had started on October 31, 2017 at 76.51 and reached 69.69 on December 5, 2017. CTSH lost 6.82 points, or 8.91%, in 5 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (71.86). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See CTSH weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since November 3, 2017. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.

Short-term trend: [See CTSH short-term trend chart]
A short-term uptrend had started on December 5, 2017 at 69.69 and reached 72.83 on December 8, 2017. CTSH gained -3.14 points, or -4.51%, in 3 days. The price is now at the 32.17% retracement level.

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

The daily MACD line is below its signal line since October 31, 2017. The distance between MACD and the signal line is low and getting smaller.

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) 41.93
Williams' Percentage Range (W%R) 61.30
Lane's Stochastic (%D-Slow) 37.29
Greed/Fear Indicator (GFI) 39.29
Moving Average Converg./Diverg. (MACD) -0.59
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.47
Williams' Percentage Range (W%R) 50.80
Lane's Stochastic (%D-Slow) 41.76
Greed/Fear Indicator (GFI) 47.02
Moving Average Converg./Diverg. (MACD) 2.73
Trading Signals
Description Value Chart
Yearly Trendline Resistance 77.99
Upper Bollinger Band 75.12
50 Day Moving Average 73.46
20 Day Moving Average 72.53
Weekly Stochastic Crossing 72.12
Quarterly Trendline Resistance 71.86
Price 71.82
Daily Stochastic Crossing 71.23
Parabolic System 69.62
Lower Bollinger Band 69.54
Quarterly Trendline Support 68.97
Yearly Trendline Support 68.02
Sector and Industry
Description Name Rank
Sector Technology 6
Industry Business Software & Svcs 95
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 69.69
Low Date 12/05/2017
High 72.83
High Date 12/08/2017
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 69.69
Low Date 12/05/2017
High 72.83
High Date 12/08/2017
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 69.69
Low Date 12/05/2017
High 72.83
High Date 12/08/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Test Resistance
Resistance 71.86
Support 68.97
High 76.51
High Date 10/31/2017
Low 69.69
Low Date 12/05/2017
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 77.99
Support 68.02
Low 45.44
Low Date 09/30/2016
High 76.51
High Date 10/31/2017
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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