The Greedy Trader Weekly Analysis
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Monthly Pattern:Rectangle
Number of records: 1
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 :Broken trend resistance line
Daily :Williams' Percentage Range and Lane's Stochastic are overbought
Move cursor over the icon to see details.

It was a second consecutive positive week for the Cognizant Technology Solutions Corp. (CTSH). During the week, the CTSH gained 1.57 points, or 1.99%, and closed at 80.56 on Friday, July 06, 2018. Weekly volume was -26% below 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 85.10 on March 15, 2018. CTSH gained -39.66 points, or -87.28%, in 75 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 78.67 and resistance is at 88.12. 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 March 15, 2018 at 85.10 and reached 73.97 on May 29, 2018. CTSH lost 11.13 points, or 13.08%, in 10 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (72.29) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. CTSH may retest the broken resistance line. It is considered to be a support line now. 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 CTSH weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since April 13, 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 CTSH short-term trend chart]
A short-term uptrend had started on June 22, 2018 at 77.25 and reached 80.74 on July 6, 2018. CTSH gained -3.49 points, or -4.52%, in 14 days. The price is now at the 5.16% retracement level.

Daily Technical Indicators: [See CTSH daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily 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 daily MACD line is above its signal line since June 27, 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) 49.27
Williams' Percentage Range (W%R) 16.80
Overbought
Lane's Stochastic (%D-Slow) 83.52
Overbought
Greed/Fear Indicator (GFI) 71.98
Moving Average Converg./Diverg. (MACD) 0.39
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 50.15
Williams' Percentage Range (W%R) 46.40
Lane's Stochastic (%D-Slow) 49.99
Greed/Fear Indicator (GFI) 51.45
Moving Average Converg./Diverg. (MACD) 1.24
Trading Signals
Description Value Chart
Yearly Trendline Resistance 88.12
Monthly Trendline Resistance 86.70
Upper Bollinger Band 80.88
Price 80.56
Daily Stochastic Crossing 80.35
Monthly Trendline Support 79.02
Parabolic System 78.96
20 Day Moving Average 78.78
Yearly Trendline Support 78.67
50 Day Moving Average 77.94
Quarterly Trendline Resistance 77.70
Weekly Stochastic Crossing 77.62
Lower Bollinger Band 76.63
Quarterly Trendline Support 72.29
Sector and Industry
Description Name Rank
Sector Technology 7
Industry Business Software & Svcs 107
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 77.25
Low Date 06/22/2018
High 80.74
High Date 07/06/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 77.25
Low Date 06/22/2018
High 80.74
High Date 07/06/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 86.70
Support 79.02
Low 73.97
Low Date 05/29/2018
High 80.75
High Date 06/15/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 77.70
Support 72.29
High 85.10
High Date 03/15/2018
Low 73.97
Low Date 05/29/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 88.12
Support 78.67
Low 45.44
Low Date 09/30/2016
High 85.10
High Date 03/15/2018
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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