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Yearly Pattern:Descending Triangle
Number of records: 2
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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
- 2/9/2018
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Deere & Co.
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Summary:
Weekly :Overbought sectorLane's Stochastic is overboughtBroken trend resistance line
Daily :Price has crossed below the 50 Day Moving AverageBullish Homing Pigeon Candlestick
Move cursor over the icon to see details.

It was the negative week for the Deere & Co. (DE). During the week, the DE dropped -10.03 points, or -6.08%, and closed at 154.93 on Friday, February 09, 2018. Weekly volume was 42% above average.

DE is a member of Industrial Goods Sector. Industrial Goods is the second most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See DE long-term trend chart]
A long-term uptrend had started on October 8, 1998 at 13.78 and reached 171.96 on January 26, 2018. DE gained -158.18 points, or -1147.90%, in 1007 weeks. The chart has formed a Descending Triangle chart pattern. The uptrend resistance line (79.19) 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 uptrend had started on August 18, 2017 at 112.87 and reached 171.96 on January 26, 2018. DE gained -59.09 points, or -52.35%, in 23 weeks. The price is now at the 28.82% retracement level.

Weekly Technical Indicators: [See DE weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 link to access Lane's Stochastic help.

The weekly MACD line is above its signal line since October 27, 2017. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See DE short-term trend chart]
A short-term downtrend had started on February 2, 2018 at 167.93 and reached 148.60 on February 9, 2018. DE lost 19.33 points, or 11.51%, in 7 days. The price is now at the 32.75% retracement level.

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

The daily MACD line is below its signal line since January 23, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.

During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Candlestick pattern: [See DE candlestick chart pattern]
On Friday the chart has formed a Bullish Homing Pigeon Candlestick pattern. A Bullish Homing Pigeon pattern occurs in a downtrend. Market usually has a tendency to enter into a congestion phase following a Homing Pigeon pattern.The reliability of the Bullish Homing Pigeon is medium. Use the Technical Stock Screener to see the list of stocks that had a Bullish Homing Pigeon Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 29.22
Williams' Percentage Range (W%R) 70.80
Lane's Stochastic (%D-Slow) 27.89
Greed/Fear Indicator (GFI) 28.75
Moving Average Converg./Diverg. (MACD) 1.59
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.03
Williams' Percentage Range (W%R) 31.80
Lane's Stochastic (%D-Slow) 82.20
Overbought
Greed/Fear Indicator (GFI) 70.74
Moving Average Converg./Diverg. (MACD) 10.08
Trading Signals
Description Value Chart
Upper Bollinger Band 172.99
Weekly Stochastic Crossing 166.92
20 Day Moving Average 165.88
Parabolic System 161.96
50 Day Moving Average 159.56
Daily Stochastic Crossing 156.25
Price 154.93
Lower Bollinger Band 152.38
Sector and Industry
Description Name Rank
Sector Industrial Goods 8
Industry Farm/Construction Machnry 138
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 167.93
High Date 02/02/2018
Low 148.60
Low Date 02/09/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 171.96
High Date 01/26/2018
Low 148.60
Low Date 02/09/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 112.87
Low Date 08/18/2017
High 171.96
High Date 01/26/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 70.16
Low Date 01/20/2016
High 171.96
High Date 01/26/2018
Description Value
Direction Up
Chart Pattern Descending Triangle
Status Broken Resistance
Resistance 100.26
Support 79.19
Low 13.78
Low Date 10/08/1998
High 171.96
High Date 01/26/2018
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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