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 :Broken trend resistance line
Daily :Stochastic has declined below the signal lineA Parabolic SAR indicator is above and near the priceThe price is close to the moving average in the center of the Bollinger BandsThe Bollinger Bands are historically close togetherPrice is close to the 50 Day Moving Average
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 gave back -0.12 points, or -0.35%, and closed at 34.38 on Friday, May 18, 2018. Weekly volume was -45% below average.

Long-term trend: [See EWL long-term trend chart]
A long-term uptrend had started on June 27, 2016 at 27.70 and reached 37.84 on January 25, 2018. EWL gained -10.14 points, or -36.61%, in 82 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 28.47 and resistance is at 39.40. 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 downtrend had started on January 25, 2018 at 37.84 and reached 33.43 on April 4, 2018. EWL lost 4.41 points, or 11.65%, in 9 weeks. The chart has formed a Falling Pennant chart pattern. The downtrend resistance line (34.09) is broken. A broken support is considered to be a long-term bullish signal. 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 EWL weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since February 9, 2018. This is an indication that the medium-term trend is down. 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 May 16, 2018 at 34.54 and reached 34.35 on May 18, 2018. EWL lost 0.19 points, or 0.55%, in 2 days. The price is now at the 15.79% retracement level.

Daily Technical Indicators: [See EWL daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). 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.

The daily MACD line is above its signal line since May 4, 2018. The distance between MACD and the signal line is low and getting smaller.

A Parabolic SAR (stop and reversal) indicator (34.15) comes close to the price (34.38). It indicates that the trend is getting weaker. 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 is close to the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (2.21%) is close to one year low (2.06%). It indicates the period of low volatility of the stock price, and it is considered a buy 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.

Price is close to the 50 Day Moving Average. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 64.66
Williams' Percentage Range (W%R) 25.50
Lane's Stochastic (%D-Slow) 67.13
Greed/Fear Indicator (GFI) 68.75
Moving Average Converg./Diverg. (MACD) -0.01
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.32
Williams' Percentage Range (W%R) 77.10
Lane's Stochastic (%D-Slow) 40.88
Greed/Fear Indicator (GFI) 36.19
Moving Average Converg./Diverg. (MACD) -0.03
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 39.40
Upper Bollinger Band 34.71
Daily Stochastic Crossing 34.49
Price 34.38
50 Day Moving Average 34.33
20 Day Moving Average 34.23
Parabolic System 34.15
Monthly Trendline Support 34.09
Weekly Stochastic Crossing 33.97
Lower Bollinger Band 33.93
Monthly Trendline Resistance 33.57
Quarterly Trendline Support 28.47
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 34.54
High Date 05/16/2018
Low 34.35
Low Date 05/18/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 33.74
Low Date 04/25/2018
High 34.68
High Date 05/14/2018
Description Value
Direction Down
Chart Pattern Falling Pennant
Status Broken Resistance
Resistance 33.57
Support 34.09
High 37.84
High Date 01/25/2018
Low 33.43
Low Date 04/04/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 39.40
Support 28.47
Low 27.70
Low Date 06/27/2016
High 37.84
High Date 01/25/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
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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