The Greedy Trader Weekly Analysis
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Quarterly Pattern:Descending Triangle
Number of records: 2
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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.
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Fifth Third Bancorp
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Summary:
Weekly :Williams' Percentage Range is strongly overbought
Daily :Williams' Percentage Range is overboughtPrice is near the Fibonacci 38.2% retracement level
Move cursor over the icon to see details.

It was the negative week for the Fifth Third Bancorp (FITB). During the week, the FITB dropped -0.42 points, or -1.24%, and closed at 33.56 on Friday, May 18, 2018. FITB was trading at average weekly trading volume.

Long-term trend: [See FITB long-term trend chart]
A long-term uptrend had started on June 1, 2017 at 23.20 and reached 34.67 on May 15, 2018. FITB gained -11.47 points, or -49.44%, in 49 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 32.61 and resistance is at 35.55. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.

Medium-term trend: [See FITB medium-term trend chart]
A medium-term uptrend had started on April 2, 2018 at 30.45 and reached 34.67 on May 15, 2018. FITB gained -4.22 points, or -13.86%, in 6 weeks. The price is now at the 26.30% retracement level.

Weekly Technical Indicators: [See FITB weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought 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 March 23, 2018. The distance between MACD and the signal line is low and getting smaller. 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 May 3, 2018 at 31.80 and reached 34.67 on May 15, 2018. FITB gained -2.87 points, or -9.03%, in 12 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

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

The daily MACD line is above its signal line since April 20, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 54.72
Williams' Percentage Range (W%R) 12.30
Overbought
Lane's Stochastic (%D-Slow) 79.19
Greed/Fear Indicator (GFI) 73.88
Moving Average Converg./Diverg. (MACD) 0.40
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.95
Williams' Percentage Range (W%R) 9.30
Strong Overbought
Lane's Stochastic (%D-Slow) 60.99
Greed/Fear Indicator (GFI) 67.70
Moving Average Converg./Diverg. (MACD) 1.14
Trading Signals
Description Value Chart
Monthly Trendline Resistance 35.55
Upper Bollinger Band 34.69
Daily Stochastic Crossing 34.30
Price 33.56
Weekly Stochastic Crossing 33.48
20 Day Moving Average 33.42
Parabolic System 33.13
50 Day Moving Average 32.71
Monthly Trendline Support 32.61
Lower Bollinger Band 32.03
Sector and Industry
Description Name Rank
Sector Financial 5
Industry Regional-Midwest Banks 100
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 31.80
Low Date 05/03/2018
High 34.67
High Date 05/15/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 30.45
Low Date 04/02/2018
High 34.67
High Date 05/15/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 35.55
Support 32.61
Low 23.20
Low Date 06/01/2017
High 34.67
High Date 05/15/2018
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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