The Greedy Trader Weekly Analysis
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Yearly Pattern:Descending Triangle
Number of records: 4
Symbol:  

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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
iShares MSCI EAFE Index
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Summary:
Weekly :Broken trend resistance line
Daily :Williams' Percentage Range and Lane's Stochastic are strongly overboughtDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price is above the upper Bollinger BandThe period of low volatility of the stock price
Move cursor over the icon to see details.

It was a first positive week for the iShares MSCI EAFE Index (EFA). During the week, the EFA gained 0.85 points, or 1.20%, and closed at 71.78 on Friday, May 11, 2018. Weekly volume was -32% below average.

Long-term trend: [See EFA long-term trend chart]
A long-term uptrend had started on February 9, 2018 at 66.89 and reached 72.03 on February 26, 2018. EFA gained -5.14 points, or -7.68%, in 2 weeks. The chart has formed a Rectangle chart pattern. The trend support level is at 67.70 and resistance is at 72.93. A rectangle chart pattern is characterized as a short-term horizontal channel and represents a trading range and indecision area that is usually resolves in the direction of the main trend. Chart analysis usually considers a rectangle pattern a continuation formation, but it can also mark significant top and bottom. A rectangle pattern within younger parent trend has more chances to mark a continuation. Use the following link to access a Rectangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rectangle pattern in a long-term trend.

Medium-term trend: [See EFA medium-term trend chart]
A medium-term downtrend had started on April 18, 2018 at 71.69 and reached 70.05 on May 3, 2018. EFA lost 1.64 points, or 2.29%, in 2 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (69.91) 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. EFA 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 EFA weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since February 2, 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 EFA short-term trend chart]
A short-term uptrend had started on May 3, 2018 at 70.05 and reached 71.91 on May 11, 2018. EFA gained -1.86 points, or -2.66%, in 8 days. The price is now at the 6.99% retracement level.

Daily Technical Indicators: [See EFA daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and 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 links to access Lane's Stochastic and Williams' Percentage Range 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 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.

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. The distance between the Bollinger Bands is falling, and it was 2.01% on Friday. It is 52.31% lower than one year average. It indicates the period of low volatility of the stock price. 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) 65.41
Williams' Percentage Range (W%R) 5.90
Strong Overbought
Lane's Stochastic (%D-Slow) 90.05
Strong Overbought
Greed/Fear Indicator (GFI) 83.18
Overbought
Moving Average Converg./Diverg. (MACD) 0.20
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 47.82
Williams' Percentage Range (W%R) 41.40
Lane's Stochastic (%D-Slow) 75.90
Greed/Fear Indicator (GFI) 62.31
Moving Average Converg./Diverg. (MACD) 0.65
Trading Signals
Description Value Chart
Monthly Trendline Resistance 72.93
Price 71.78
Daily Stochastic Crossing 71.76
Upper Bollinger Band 71.59
Weekly Stochastic Crossing 71.02
20 Day Moving Average 70.99
Weekly Trendline Resistance 70.52
50 Day Moving Average 70.31
Parabolic System 70.28
Lower Bollinger Band 70.17
Weekly Trendline Support 69.91
Monthly Trendline Support 67.70
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 70.05
Low Date 05/03/2018
High 71.91
High Date 05/11/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 70.52
Support 69.91
High 71.69
High Date 04/18/2018
Low 70.05
Low Date 05/03/2018
Description Value
Direction Up
Chart Pattern Rectangle
Status Valid
Resistance 72.93
Support 67.70
Low 66.89
Low Date 02/09/2018
High 72.03
High Date 02/26/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 75.27
High Date 01/26/2018
Low 66.89
Low Date 02/09/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 50.94
Low Date 02/11/2016
High 75.27
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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