The Greedy Trader Weekly Analysis
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Quarterly Pattern:Symmetric Triangle
Number of records: 4
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Symmetric Triangle Chart Pattern Analysis - Symmetric Triangle Pattern.
A symmetric triangle pattern represents the area of indecision where the movement direction is questioned. Chart Pattern Analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of a larger trend, but it may also mark the trend reversal. Volume diminishes during the formation and explodes at the breakout. After breakout (similar to rectangle), support may turn into potential resistance and vice versa.
Tips:
# 1 As a continuation pattern, the symmetric triangle usually appears within a young trend characterized by neutral long-term indicators and overbought/oversold short-term indicators. The symmetric triangle resets short-term indicators to neutral and then continues movement in parent's direction.
# 2 As a reversal formation, the symmetric triangle chart pattern appears in a mature trend characterized by overbought/oversold long-term and short-term indicators. This situation usually generates divergence on long-term indicators. For the best results, the symmetric triangle pattern should be considered together with other chart pattern analysis, technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance line.
Symmetric Triangle Pattern,Symmetric Triangle Chart Pattern,Chart Pattern Analysis,chart pattern, charts, pattern, chart analysis, pattern recognition, screener, screening, Trading Signals
iShares MSCI Switzerland Index
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Summary:
Weekly :Stochastic signal line moved below overbought areaBroken trend resistance lineWilliams' Percentage Range is oversold
Daily :Williams' Percentage Range and Lane's Stochastic are oversoldPrice has crossed below the 50 Day Moving AverageBullish Harami CandlestickThe Bollinger Bands are historically far apart
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It was the negative week for the iShares MSCI Switzerland Index (EWL). During the week, the EWL dropped -1.91 points, or -5.23%, and closed at 34.64 on Friday, February 09, 2018. Weekly volume was 224% above average.

Long-term trend: [See EWL long-term trend chart]
A long-term uptrend had started on February 11, 2016 at 27.52 and reached 37.84 on January 25, 2018. EWL gained -10.32 points, or -37.5%, in 102 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (28.41) 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 EWL medium-term trend chart]
A medium-term uptrend had started on November 23, 2016 at 27.87 and reached 37.84 on January 25, 2018. EWL gained -9.97 points, or -35.77%, in 61 weeks. The chart has formed a Rectangle chart pattern. The trend support level is at 33.94 and resistance is at 35.68. 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 medium-term trend.

Weekly Technical Indicators: [See EWL weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 December 29, 2017. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See EWL short-term trend chart]
A short-term downtrend had started on January 25, 2018 at 37.84 and reached 34.02 on February 9, 2018. EWL lost 3.82 points, or 10.10%, in 15 days. The price is now at the 16.23% retracement level.

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

The daily MACD line is below its signal line since January 31, 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.

The distance between the Bollinger Bands (10.62%) is close to one year high (9.52%). It is 185.11% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell signal for the option traders. 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.

During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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 EWL candlestick chart pattern]
On Friday the chart has formed a Bullish Harami Candlestick pattern. A Bullish Harami indicates that the bearish trend may be reversing, it signals that it's a good time to enter into a long position. Use the Technical Stock Screener to see the list of stocks that had a Bullish Harami Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 25.67
Williams' Percentage Range (W%R) 84.30
Oversold
Lane's Stochastic (%D-Slow) 11.30
Oversold
Greed/Fear Indicator (GFI) 17.56
Oversold
Moving Average Converg./Diverg. (MACD) 0.12
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 50.06
Williams' Percentage Range (W%R) 84.30
Oversold
Lane's Stochastic (%D-Slow) 76.32
Greed/Fear Indicator (GFI) 48.06
Moving Average Converg./Diverg. (MACD) 0.57
Trading Signals
Description Value Chart
Upper Bollinger Band 37.91
Weekly Stochastic Crossing 36.75
20 Day Moving Average 36.50
Parabolic System 35.98
50 Day Moving Average 35.81
Monthly Trendline Resistance 35.68
Price 34.64
Daily Stochastic Crossing 34.48
Lower Bollinger Band 34.23
Monthly Trendline Support 33.94
Yearly Trendline Resistance 29.98
Yearly Trendline Support 28.41
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 37.84
High Date 01/25/2018
Low 34.02
Low Date 02/09/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 34.03
Low Date 11/13/2017
High 37.84
High Date 01/25/2018
Description Value
Direction Up
Chart Pattern Rectangle
Status Valid
Resistance 35.68
Support 33.94
Low 27.87
Low Date 11/23/2016
High 37.84
High Date 01/25/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 27.70
Low Date 06/27/2016
High 37.84
High Date 01/25/2018
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 29.98
Support 28.41
Low 27.52
Low Date 02/11/2016
High 37.84
High Date 01/25/2018
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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