The Greedy Trader Weekly Analysis
Sign In Mar 22, 2024
Skip Navigation Links
TA Search
Quarterly Pattern:Broadening Descending Wedge
Number of records: 9
Share
Symbol:  

• Symbol Lookup
• View Technical Chart
• Add to Watch List
• Candlestick Patterns - N/A
• Stock Technical Indicators
• Stock Trends Analysis
• Market Sector Rank
• Stock Trading Signals

Chart Analysis and Chart Pattern Recognition – Broadening Formations

Broadening Formations, including Broadening Ascending Wedge, present inverted triangle patterns. They start with narrow fluctuations, and then widen out between diverging boundary lines. The pattern, where one of the boundary lines is horizontal, is referred to as a right-angled formation. Broadening formations usually mark the reversal when confirmed by other technical indicators.
Broadening formations Screening page presents a list of stocks forming Broadening formation Pattern.
Tips:
# 1
As a reversal formation, Broadening formation 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.
# 2 For the best results, chart patterns and trend resistance support should be considered together with other technical analysis signals and technical trading techniques.

Advanced TA Search

Archive
- 3/15/2024 -
Sign In to see current Signals.

Facebook (FB) Technical Analysis

Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :Relative Strength Index and Williams' Percentage Range are overboughtLane's Stochastic is strongly overboughtBroken trend resistance lineBroken trend resistance line
Daily :The price has fallen below the Parabolic SARThe price is close to 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 Facebook (FB). During the week, the FB dropped -21.85 points, or -4.32%, and closed at 484.10 on Friday, March 15, 2024. Weekly volume was -17% below average.

Long-term trend: [See FB long-term trend chart]
A long-term uptrend had started on November 4, 2022 at 88.09 and reached 523.57 on March 8, 2024. FB gained -435.48 points, or -494.36%, in 70 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (383.65) 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 FB medium-term trend chart]
A medium-term uptrend had started on August 18, 2023 at 274.39 and reached 523.57 on March 8, 2024. FB gained -249.18 points, or -90.81%, in 29 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (333.55) 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 medium-term trend.

Weekly Technical Indicators: [See FB weekly technical indicators chart]
Weekly Relative Strength Index and Williams' Percentage Range are overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Williams' Percentage Range or strongly overbought weekly Lane's Stochastic. 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, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since December 22, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.

Short-term trend: [See FB short-term trend chart]
A short-term downtrend had started on March 8, 2024 at 523.57 and reached 476.00 on March 11, 2024. FB lost 47.57 points, or 9.09%, in 3 days. The price is now at the 17.03% retracement level.

Daily Technical Indicators: [See FB daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since February 20, 2024. This is an indication that the short-term trend is down.

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.

The price is close to 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) 50.97
Williams' Percentage Range (W%R) 55.90
Lane's Stochastic (%D-Slow) 31.47
Greed/Fear Indicator (GFI) 42.17
Moving Average Converg./Diverg. (MACD) 18.42
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 85.56
Overbought
Williams' Percentage Range (W%R) 14.10
Overbought
Lane's Stochastic (%D-Slow) 90.38
Strong Overbought
Greed/Fear Indicator (GFI) 80.75
Overbought
Moving Average Converg./Diverg. (MACD) 40.03
Trading Signals
Description Value Chart
Parabolic System 520.36
Weekly Stochastic Crossing 509.46
Upper Bollinger Band 505.71
Daily Stochastic Crossing 492.81
20 Day Moving Average 489.30
Price 484.10
Lower Bollinger Band 461.39
50 Day Moving Average 440.51
Sector and Industry
Description Name Rank
Sector Communication Services 5
Industry Interactive Media & Services 52
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 523.57
High Date 03/08/2024
Low 476.00
Low Date 03/11/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 313.66
Low Date 12/04/2023
High 523.57
High Date 03/08/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 376.00
Support 333.55
Low 274.39
Low Date 08/18/2023
High 523.57
High Date 03/08/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 354.76
Support 383.65
Low 88.09
Low Date 11/04/2022
High 523.57
High Date 03/08/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 384.33
High Date 09/01/2021
Low 88.09
Low Date 11/04/2022
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.