The Greedy Trader Weekly Analysis
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Yearly Pattern:Ascending Triangle
Number of records: 4
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Chart Analysis and Chart Pattern Recognition – Ascending Triangle Pattern
The ascending triangle pattern is a variation of symmetrical triangle formation that has a flat resistance line and a rising support line. The higher lows indicate the increasing demand and give the ascending triangle definitive bullish bias. The ascending triangle usually represents an accumulation stage in bullish market. The ascending triangle is considered as a continuation pattern, especially in an uptrend, but it may also mark a reversal in a downtrend. Volume usually increases on a breakout move. After breakout (similar to rectangle), resistance may turn into potential support and vice versa.
Ascending Triangle Screening page presents a list of stocks forming an Ascending Triangle Pattern.
Tips:
# 1As a continuation pattern, an ascending triangle usually appears within a young trend, characterized by neutral long-term indicators and overbought short-term indicators. An ascending triangle resets short-term indicators to neutral and then continues the movement in parent's direction.
# 2 As a reversal formation, an ascending triangle appears in a mature downtrend, characterized by oversold short-term and long-term indicators. This situation usually generates bullish 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 line.
Ascending Triangle Pattern,Ascending Triangle,Ascending Triangle Chart Pattern,Trend Support, chart pattern, chart, pattern, technical analysis, signals, chart analysis, pattern recognition, screening, technical trading
iShares MSCI Switzerland Index
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Summary:
Weekly :Broken trend support lineStochastic signal line moved below overbought area
Daily :The price is below the lower Bollinger BandPrice has crossed below the 50 Day Moving AverageWilliams' Percentage Range and Lane's Stochastic are oversold
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 -0.78 points, or -2.25%, and closed at 33.91 on Friday, October 05, 2018. It was the worst weekly loss since June 22, 2018. Weekly volume was -50% 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 28.80 and resistance is at 40.57. 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 31.94 on June 28, 2018. EWL lost 5.90 points, or 15.59%, in 22 weeks. The chart has formed a Rectangle chart pattern. The downtrend support line (34.05) is broken. Usually a broken support is considered to be a long-term bearish 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 support in a medium-term trend.

Weekly Technical Indicators: [See EWL weekly technical indicators chart]
Weekly technical indicators are neutral. 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 link to access Lane's Stochastic help.

The weekly MACD line is above its signal line since July 27, 2018. 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 September 20, 2018 at 35.35 and reached 33.80 on October 5, 2018. EWL lost 1.55 points, or 4.38%, in 15 days. The price is now at the 7.10% 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. Use the following link to access Williams' Percentage Range help.

The daily MACD line is below its signal line since September 26, 2018. This is an indication that the short-term trend is down.

The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. 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. Such crossover is considered a bearish signal. 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) 34.07
Williams' Percentage Range (W%R) 87.10
Oversold
Lane's Stochastic (%D-Slow) 13.97
Oversold
Greed/Fear Indicator (GFI) 20.31
Moving Average Converg./Diverg. (MACD) 0.08
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 60.37
Williams' Percentage Range (W%R) 39.60
Lane's Stochastic (%D-Slow) 70.85
Greed/Fear Indicator (GFI) 61.78
Moving Average Converg./Diverg. (MACD) -0.04
Trading Signals
Description Value Chart
Yearly Trendline Resistance 40.57
Monthly Trendline Resistance 35.50
Monthly Trendline Support 35.35
Upper Bollinger Band 35.27
Weekly Stochastic Crossing 34.84
Quarterly Trendline Resistance 34.84
Parabolic System 34.78
20 Day Moving Average 34.73
50 Day Moving Average 34.57
Quarterly Trendline Support 34.05
Daily Stochastic Crossing 33.98
Lower Bollinger Band 33.97
Price 33.91
Yearly Trendline Support 28.80
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 35.35
High Date 09/20/2018
Low 33.80
Low Date 10/05/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 35.35
High Date 09/20/2018
Low 33.80
Low Date 10/05/2018
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 35.50
Support 35.35
Low 31.94
Low Date 06/28/2018
High 35.35
High Date 09/20/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Rectangle
Status Broken Support
Resistance 34.84
Support 34.05
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 40.57
Support 28.80
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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