The Greedy Trader Weekly Analysis
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Quarterly Pattern:Symmetric Triangle
Number of records: 6
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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 :
Daily :Stochastic signal line moved below overbought areaDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARThe price has declined below the moving average in the center of the Bollinger Bands
Move cursor over the icon to see details.

It was the negative week for the iShares MSCI Switzerland Index (EWL). During the week, the EWL dropped -0.58 points, or -1.68%, and closed at 34.03 on Friday, August 10, 2018. It was the worst weekly loss since June 22, 2018. Weekly volume was -46% below 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 Broadening Ascending Wedge chart pattern. The trend support level is at 28.72 and resistance is at 39.97. 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 EWL medium-term trend chart]
A medium-term uptrend had started on June 28, 2018 at 31.94 and reached 34.85 on July 31, 2018. EWL gained -2.91 points, or -9.11%, in 4 weeks. The price is now at the 28.18% retracement level.

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

The weekly MACD line is above its signal line since July 27, 2018. This is an indication that the medium-term trend is up. 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 July 31, 2018 at 34.85 and reached 34.03 on August 10, 2018. EWL lost 0.82 points, or 2.35%, in 10 days. Price is near the trend low.

Daily Technical Indicators: [See EWL daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily 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 link to access Lane's Stochastic help.

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

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.

During the last week, the price has declined below 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) 52.15
Williams' Percentage Range (W%R) 43.90
Lane's Stochastic (%D-Slow) 48.12
Greed/Fear Indicator (GFI) 52.11
Moving Average Converg./Diverg. (MACD) 0.34
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 49.60
Williams' Percentage Range (W%R) 23.70
Lane's Stochastic (%D-Slow) 74.64
Greed/Fear Indicator (GFI) 66.38
Moving Average Converg./Diverg. (MACD) -0.34
Trading Signals
Description Value Chart
Yearly Trendline Resistance 39.97
Upper Bollinger Band 35.06
Parabolic System 34.82
Daily Stochastic Crossing 34.36
Weekly Stochastic Crossing 34.32
20 Day Moving Average 34.24
Price 34.03
50 Day Moving Average 33.54
Lower Bollinger Band 33.31
Yearly Trendline Support 28.72
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 34.74
High Date 08/07/2018
Low 34.03
Low Date 08/10/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 34.85
High Date 07/31/2018
Low 34.03
Low Date 08/10/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 31.94
Low Date 06/28/2018
High 34.85
High Date 07/31/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 37.84
High Date 01/25/2018
Low 31.94
Low Date 06/28/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 39.97
Support 28.72
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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