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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
- 11/9/2018
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Deere & Co.
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Summary:
Weekly :Oversold sectorBroken trend resistance line
Daily :Lane's Stochastic is overboughtDaily  MACD line has moved above its signal lineThe price moved above the moving average in the center of the Bollinger Bands
Move cursor over the icon to see details.

It was a second positive week after 3 consecutive negative weeks for the Deere & Co. (DE). During the week, the DE gained 3.09 points, or 2.18%, and closed at 144.81 on Friday, November 09, 2018. Weekly volume was -22% below average.

DE is a member of Industrial Goods Sector. Industrial Goods is the second most oversold 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 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 (81.83) 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 May 21, 2018 at 161.39 and reached 128.32 on October 29, 2018. DE lost 33.07 points, or 20.49%, in 23 weeks. The price is now at the 49.86% retracement level.

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

The weekly MACD line is below its signal line since October 19, 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 downtrend had started on October 4, 2018 at 159.30 and reached 128.32 on October 29, 2018. DE lost 30.98 points, or 19.45%, in 25 days. The price is now at the 53.23% retracement level.

Daily Technical Indicators: [See DE daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily 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.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has moved above 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) 49.25
Williams' Percentage Range (W%R) 28.70
Lane's Stochastic (%D-Slow) 89.26
Overbought
Greed/Fear Indicator (GFI) 69.93
Moving Average Converg./Diverg. (MACD) -1.99
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 51.07
Williams' Percentage Range (W%R) 44.40
Lane's Stochastic (%D-Slow) 43.67
Greed/Fear Indicator (GFI) 50.82
Moving Average Converg./Diverg. (MACD) -0.24
Trading Signals
Description Value Chart
Upper Bollinger Band 156.13
Daily Stochastic Crossing 148.06
50 Day Moving Average 146.94
Price 144.81
20 Day Moving Average 142.15
Weekly Stochastic Crossing 140.35
Parabolic System 137.83
Lower Bollinger Band 130.65
Sector and Industry
Description Name Rank
Sector Industrial Goods 2
Industry Farm/Construction Machnry 101
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 159.30
High Date 10/04/2018
Low 128.32
Low Date 10/29/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 161.39
High Date 05/21/2018
Low 128.32
Low Date 10/29/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 175.26
High Date 02/16/2018
Low 128.32
Low Date 10/29/2018
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 100.56
Support 81.83
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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