The Greedy Trader Weekly Analysis
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Weekly Pattern:Symmetric Triangle
Number of records: 5
Symbol:  

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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 EMU Index
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Summary:
Weekly :Williams' Percentage Range is oversoldBroken trend support line
Daily :Daily  MACD line has moved below its signal lineThe price is below the lower Bollinger BandWilliams' Percentage Range is oversold
Move cursor over the icon to see details.

It was the negative week for the iShares MSCI EMU Index (EZU). During the week, the EZU dropped -1.35 points, or -3.22%, and closed at 40.63 on Friday, August 10, 2018. It was the worst weekly loss since June 22, 2018. Weekly volume was -12% below average.

Long-term trend: [See EZU long-term trend chart]
A long-term uptrend had started on June 27, 2016 at 29.71 and reached 47.13 on January 25, 2018. EZU gained -17.42 points, or -58.63%, in 82 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (45.53) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. EZU may retest the broken support line. It is considered to be a resistance 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 support in a long-term trend.

Medium-term trend: [See EZU medium-term trend chart]
A medium-term downtrend had started on January 25, 2018 at 47.13 and reached 40.28 on June 28, 2018. EZU lost 6.85 points, or 14.53%, in 22 weeks. The price is now at the 5.11% retracement level.

Weekly Technical Indicators: [See EZU weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold Williams' Percentage Range. 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 Williams' Percentage Range help.

The weekly MACD line is below its signal line since February 2, 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 EZU short-term trend chart]
A short-term downtrend had started on July 31, 2018 at 42.81 and reached 40.50 on August 10, 2018. EZU lost 2.31 points, or 5.40%, in 10 days. The price is now at the 5.63% retracement level.

Daily Technical Indicators: [See EZU daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range.

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

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 32.32
Williams' Percentage Range (W%R) 89.20
Oversold
Lane's Stochastic (%D-Slow) 23.14
Greed/Fear Indicator (GFI) 22.09
Moving Average Converg./Diverg. (MACD) -0.05
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 26.30
Williams' Percentage Range (W%R) 90.40
Strong Oversold
Lane's Stochastic (%D-Slow) 43.11
Greed/Fear Indicator (GFI) 30.86
Moving Average Converg./Diverg. (MACD) -0.26
Trading Signals
Description Value Chart
Yearly Trendline Support 45.53
Upper Bollinger Band 42.75
Parabolic System 42.24
50 Day Moving Average 42.16
20 Day Moving Average 42.08
Weekly Stochastic Crossing 41.76
Lower Bollinger Band 41.15
Daily Stochastic Crossing 41.01
Price 40.63
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 42.26
High Date 08/07/2018
Low 40.50
Low Date 08/10/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 42.81
High Date 07/31/2018
Low 40.50
Low Date 08/10/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 45.19
High Date 04/18/2018
Low 40.28
Low Date 06/28/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 47.13
High Date 01/25/2018
Low 40.28
Low Date 06/28/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 49.42
Support 45.53
Low 29.71
Low Date 06/27/2016
High 47.13
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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