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Yearly Pattern:Descending Triangle
Number of records: 3
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Chart Analysis and Chart Pattern Recognition – Descending Triangle Pattern
The descending triangle is a variation of a symmetrical triangle formation that has a flat support line and a falling resistance line. The lower highs indicate the decreasing demand and give the descending triangle definitive bearish bias. The descending triangle usually represents a distribution stage in bearish market. The descending triangle is considered as a continuation pattern, especially in a downtrend, but it may also mark a reversal in an uptrend. Volume usually increases on trend support resistance breakout. After breakout (similar to rectangle), support may turn into potential resistance and vice versa.
Descending Triangle Screening page presents a list of stocks forming Descending Triangle Pattern.
Tips:
# 1 As a continuation pattern, descending triangle usually appears within a young trend, characterized by neutral long-term indicators and oversold short-term indicators. Descending triangle resets short-term indicators to neutral and then continues the movement in parent's direction.
# 2 As a reversal formation, descending triangle appears in a mature uptrend, characterized by overbought long-term and short-term indicators. This situation usually generates bearish 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 level. line.
Descending Triangle Pattern,Descending Triangle,Descending Triangle Chart Pattern,Trend support resistance, chart pattern, chart, pattern, technical analysis, signals, chart analysis, pattern recognition, screening, technical trading
Archive
- 8/10/2018
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Deere & Co.
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Summary:
Weekly :Broken trend resistance line
Daily :The price has fallen below the Parabolic SARThe price has declined below the moving average in the center of the Bollinger Bands
Move cursor over the icon to see details.

It was the negative week for the Deere & Co. (DE). During the week, the DE dropped -6.31 points, or -4.40%, and closed at 137.05 on Friday, August 10, 2018. It was the worst weekly loss since June 15, 2018. Weekly volume was -10% below average.

Long-term trend: [See DE long-term trend chart]
A long-term uptrend had started on October 8, 1998 at 13.78 and reached 175.26 on February 16, 2018. DE gained -161.48 points, or -1171.84%, in 1010 weeks. The chart has formed a Descending Triangle chart pattern. The uptrend resistance line (80.94) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 DE medium-term trend chart]
A medium-term downtrend had started on February 16, 2018 at 175.26 and reached 131.26 on May 3, 2018. DE lost 44.00 points, or 25.11%, in 10 weeks. The chart has formed a Falling Pennant chart pattern. The trend support level is at 135.47 and resistance is at 149.04. A Falling Pennant chart pattern represents a brief pause after a sharp move in a dynamic market. It is considered one of the most reliable continuation patterns.Use the following link to access a Falling Pennant chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Pennant pattern in a medium-term trend.

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

The weekly MACD line is below its signal line since February 23, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See DE short-term trend chart]
A short-term uptrend had started on July 17, 2018 at 134.37 and reached 147.38 on August 7, 2018. DE gained -13.01 points, or -9.68%, in 21 days. The chart has formed a Rising Channel chart pattern.

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

The daily MACD line is above its signal line since July 23, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.20
Williams' Percentage Range (W%R) 64.40
Lane's Stochastic (%D-Slow) 54.38
Greed/Fear Indicator (GFI) 47.39
Moving Average Converg./Diverg. (MACD) -0.31
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 49.80
Williams' Percentage Range (W%R) 74.30
Lane's Stochastic (%D-Slow) 23.05
Greed/Fear Indicator (GFI) 31.58
Moving Average Converg./Diverg. (MACD) -0.57
Trading Signals
Description Value Chart
Monthly Trendline Resistance 149.04
Upper Bollinger Band 147.56
Parabolic System 147.06
50 Day Moving Average 144.02
Daily Stochastic Crossing 141.36
20 Day Moving Average 140.66
Weekly Stochastic Crossing 138.15
Price 137.05
Lower Bollinger Band 135.63
Monthly Trendline Support 135.47
Sector and Industry
Description Name Rank
Sector Industrial Goods 3
Industry Farm/Construction Machnry 15
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Low 134.37
Low Date 07/17/2018
High 147.38
High Date 08/07/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 161.39
High Date 05/21/2018
Low 134.37
Low Date 07/17/2018
Description Value
Direction Down
Chart Pattern Falling Pennant
Status Valid
Resistance 149.04
Support 135.47
High 175.26
High Date 02/16/2018
Low 131.26
Low Date 05/03/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 70.16
Low Date 01/20/2016
High 175.26
High Date 02/16/2018
Description Value
Direction Up
Chart Pattern Descending Triangle
Status Broken Resistance
Resistance 100.46
Support 80.94
Low 13.78
Low Date 10/08/1998
High 175.26
High Date 02/16/2018
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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