The Greedy Trader Weekly Analysis
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Quarterly Pattern:Descending Triangle
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Chart Analysis and Chart Pattern Recognition – Descending Triangle Pattern
The descending triangle is a variation of a symmetrical triangle formation that has a flat support line and a falling resistance line. The lower highs indicate the decreasing demand and give the descending triangle definitive bearish bias. The descending triangle usually represents a distribution stage in bearish market. The descending triangle is considered as a continuation pattern, especially in a downtrend, but it may also mark a reversal in an uptrend. Volume usually increases on trend support resistance breakout. After breakout (similar to rectangle), support may turn into potential resistance and vice versa.
Descending Triangle Screening page presents a list of stocks forming Descending Triangle Pattern.
Tips:
# 1 As a continuation pattern, descending triangle usually appears within a young trend, characterized by neutral long-term indicators and oversold short-term indicators. Descending triangle resets short-term indicators to neutral and then continues the movement in parent's direction.
# 2 As a reversal formation, descending triangle appears in a mature uptrend, characterized by overbought long-term and short-term indicators. This situation usually generates bearish 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 level. line.
Descending Triangle Pattern,Descending Triangle,Descending Triangle Chart Pattern,Trend support resistance, chart pattern, chart, pattern, technical analysis, signals, chart analysis, pattern recognition, screening, technical trading
Fifth Third Bancorp
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Summary:
Weekly :Lane's Stochastic bullish divergencePrice is near the Fibonacci 38.2% retracement levelPrice is near the Fibonacci 61.8% retracement level
Daily :Williams' Percentage Range and Lane's Stochastic are strongly overboughtPrice has crossed above the 50 Day Moving Average
Move cursor over the icon to see details.

It was a second positive week after 3 consecutive negative weeks for the Fifth Third Bancorp (FITB). During the week, the FITB gained 0.60 points, or 2.19%, and closed at 27.96 on Friday, November 09, 2018. FITB was trading at average weekly trading volume.

Long-term trend: [See FITB long-term trend chart]
A long-term downtrend had started on May 15, 2018 at 34.67 and reached 24.10 on October 23, 2018. FITB lost 10.57 points, or 30.49%, in 23 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Medium-term trend: [See FITB medium-term trend chart]
A medium-term downtrend had started on August 21, 2018 at 30.31 and reached 24.10 on October 23, 2018. FITB lost 6.21 points, or 20.49%, in 9 weeks. Price is near the Fibonacci 61.8% retracement level.

Weekly Technical Indicators: [See FITB weekly technical indicators chart]
Weekly technical indicators are neutral. Weekly Lane's Stochastic has bullish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 below its signal line since March 23, 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 FITB short-term trend chart]
A short-term uptrend had started on October 23, 2018 at 24.10 and reached 28.10 on November 7, 2018. FITB gained -4.00 points, or -16.60%, in 15 days. Price is near the trend high.

Daily Technical Indicators: [See FITB daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic. Use the following link to access Williams' Percentage Range help.

The daily MACD line is above its signal line since October 29, 2018. This is an indication that the short-term trend is up.

During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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) 75.10
Williams' Percentage Range (W%R) 9.20
Strong Overbought
Lane's Stochastic (%D-Slow) 90.42
Strong Overbought
Greed/Fear Indicator (GFI) 85.42
Overbought
Moving Average Converg./Diverg. (MACD) -0.25
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 39.62
Williams' Percentage Range (W%R) 46.60
Lane's Stochastic (%D-Slow) 32.53
Bullish
Greed/Fear Indicator (GFI) 43.50
Moving Average Converg./Diverg. (MACD) -0.77 Bullish
Trading Signals
Description Value Chart
Upper Bollinger Band 28.94
Daily Stochastic Crossing 27.98
Price 27.96
50 Day Moving Average 27.95
20 Day Moving Average 26.77
Parabolic System 26.31
Weekly Stochastic Crossing 26.21
Lower Bollinger Band 25.62
Sector and Industry
Description Name Rank
Sector Financial 5
Industry Regional-Midwest Banks 68
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 24.10
Low Date 10/23/2018
High 28.10
High Date 11/07/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 30.31
High Date 08/21/2018
Low 24.10
Low Date 10/23/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 34.67
High Date 05/15/2018
Low 24.10
Low Date 10/23/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 13.84
Low Date 02/11/2016
High 34.67
High Date 05/15/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 1.01
Low Date 02/20/2009
High 34.67
High Date 05/15/2018
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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