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 :Williams' Percentage Range is oversoldBroken trend support line
Daily :Broken trend support line - Downtrend exhaustionWilliams' Percentage Range and Lane's Stochastic are oversold
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It was the negative week for the Cognizant Technology Solutions Corp. (CTSH). During the week, the CTSH dropped -3.04 points, or -4.04%, and closed at 72.17 on Friday, October 12, 2018. It was the worst weekly loss since August 3, 2018. Weekly volume was 11% 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 85.10 on March 15, 2018. CTSH gained -39.66 points, or -87.28%, in 75 weeks. The chart has formed a Rising Pennant chart pattern. The uptrend support line (80.55) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. CTSH may retest the broken support line. It is considered to be a resistance 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 support 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 69.99 on October 11, 2018. CTSH lost 15.11 points, or 17.76%, in 30 weeks. The price is now at the 14.43% retracement level.

Weekly Technical Indicators: [See CTSH weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 link to access Williams' Percentage Range help.

The weekly MACD line is below its signal line since July 27, 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 downtrend had started on August 31, 2018 at 78.59 and reached 69.99 on October 11, 2018. CTSH lost 8.60 points, or 10.94%, in 41 days. The chart has formed a Rising Wedge chart pattern. The downtrend support line (79.30) is broken, while daily and weekly technical indicators are oversold. Downtrend 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 support in a short-term trend.

Daily Technical Indicators: [See CTSH daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Use the following link to access Lane's Stochastic help.

The daily MACD line is below its signal line since October 4, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 25.10
Williams' Percentage Range (W%R) 82.60
Oversold
Lane's Stochastic (%D-Slow) 12.76
Oversold
Greed/Fear Indicator (GFI) 18.41
Oversold
Moving Average Converg./Diverg. (MACD) -0.61
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 30.26
Williams' Percentage Range (W%R) 89.70
Oversold
Lane's Stochastic (%D-Slow) 26.21
Greed/Fear Indicator (GFI) 24.96
Moving Average Converg./Diverg. (MACD) -0.03
Trading Signals
Description Value Chart
Yearly Trendline Resistance 81.96
Yearly Trendline Support 80.55
Weekly Trendline Support 79.30
Upper Bollinger Band 79.10
Weekly Trendline Resistance 78.44
50 Day Moving Average 75.97
20 Day Moving Average 75.63
Parabolic System 75.40
Weekly Stochastic Crossing 72.29
Price 72.17
Daily Stochastic Crossing 70.87
Lower Bollinger Band 70.79
Sector and Industry
Description Name Rank
Sector Technology 4
Industry Business Software & Svcs 112
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 77.87
High Date 10/01/2018
Low 69.99
Low Date 10/11/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Rising Wedge
Status Broken Support
Resistance 78.44
Support 79.30
High 78.59
High Date 08/31/2018
Low 69.99
Low Date 10/11/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 83.35
High Date 07/12/2018
Low 69.99
Low Date 10/11/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 85.10
High Date 03/15/2018
Low 69.99
Low Date 10/11/2018
Description Value
Direction Up
Chart Pattern Rising Pennant
Status Broken Support
Resistance 81.96
Support 80.55
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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