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Weekly Pattern:Falling Wedge
Number of records: 10
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Chart Analysis and Chart Pattern Recognition – Falling Wedge Pattern.
A falling wedge pattern is a triangle formation with noticeable slant to the downside. It represents the loss of the downside momentum on each successive low and has a bullish bias. The falling wedges pattern usually marks a reversal in a downtrend. In an uptrend, the falling wedge pattern is considered as a continuation pattern. As with other triangle formations, volume usually diminishes as price rise and then increases during the breakout.
Falling Wedge Screening page presents a list of stocks forming Falling Wedge Pattern.
Tips:
# 1
To confirm the loss of the downside momentum at the reversal point, see bullish divergence on technical indicators.
# 2 For the best results, chart patterns should be considered together with other technical analysis signals and technical trading techniques.
Falling Wedge Pattern,Falling Wedge,Falling Wedge Chart Pattern,Charting technique, chart pattern, chart, pattern, technical analysis, signals, chart analysis, pattern recognition, screening, technical trading

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- 9/6/2019 -
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D.R. Horton (DHI)

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Summary:
Weekly :Overbought sectorLane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtMACD bearish divergenceBroken trend resistance line
Daily :Broken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is overboughtLane's Stochastic and MACD bearish divergenceDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SAR
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It was a sixth consecutive positive week for the D.R. Horton (DHI). During the week, the DHI gained 0.66 points, or 1.33%, and closed at 50.13 on Friday, September 6, 2019. Weekly volume was -39% below average.

DHI is a member of Industrial Goods Sector. Industrial Goods is the 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 DHI long-term trend chart]
A long-term uptrend had started on November 21, 2008 at 3.79 and reached 53.32 on January 4, 2018. DHI gained -49.53 points, or -1306.86%, in 475 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 32.54 and resistance is at 60.93. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.

Medium-term trend: [See DHI medium-term trend chart]
A medium-term downtrend had started on January 4, 2018 at 53.32 and reached 32.39 on December 24, 2018. DHI lost 20.93 points, or 39.25%, in 50 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend resistance line (22.01) 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. DHI 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 DHI weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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 weekly MACD line is above its signal line since July 26, 2019. Use the following link to access a MACD help.

Short-term trend: [See DHI short-term trend chart]
A short-term uptrend had started on April 24, 2019 at 47.02 and reached 50.89 on September 5, 2019. DHI gained -3.87 points, or -8.23%, in 134 days. The chart has formed a Falling Wedge chart pattern. The uptrend resistance line (39.73) is broken, while daily and weekly technical indicators are overbought. Uptrend 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 resistance line in a short-term trend.

Daily Technical Indicators: [See DHI daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence.

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 risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 68.95
Williams' Percentage Range (W%R) 18.30
Overbought
Lane's Stochastic (%D-Slow) 66.29
Bearish
Greed/Fear Indicator (GFI) 72.32
Moving Average Converg./Diverg. (MACD) 1.00 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 74.55
Williams' Percentage Range (W%R) 8.00
Strong Overbought
Lane's Stochastic (%D-Slow) 87.09
Overbought
Greed/Fear Indicator (GFI) 78.87
Moving Average Converg./Diverg. (MACD) 1.51 Bearish
Trading Signals
Description Value Chart
Upper Bollinger Band 50.98
Daily Stochastic Crossing 50.16
Price 50.13
Weekly Stochastic Crossing 49.97
20 Day Moving Average 48.83
Parabolic System 48.61
Lower Bollinger Band 46.58
50 Day Moving Average 46.54
Sector and Industry
Description Name Rank
Sector Industrial Goods 9
Industry Residential Construction 133
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Low 41.41
Low Date 06/26/2019
High 50.89
High Date 09/05/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 37.56
Support 39.73
Low 47.02
Low Date 04/24/2019
High 50.89
High Date 09/05/2019
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 32.39
Low Date 12/24/2018
High 50.89
High Date 09/05/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Broken Resistance
Resistance 36.28
Support 22.01
High 53.32
High Date 01/04/2018
Low 32.39
Low Date 12/24/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 60.93
Support 32.54
Low 3.79
Low Date 11/21/2008
High 53.32
High Date 01/04/2018
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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