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Quarterly Pattern:Descending Triangle
Number of records: 4
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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
Archive
- 12/1/2017
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Fifth Third Bancorp
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Summary:
Weekly :Overbought sectorBroken uptrend resistance line - uptrend exhaustionBroken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is strongly overboughtStochastic signal line moved below overbought areaLane's Stochastic and MACD bearish divergence
Daily :Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overboughtDaily  MACD line has moved above its signal lineThe price is above the upper Bollinger Band
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It was a first positive week for the Fifth Third Bancorp (FITB). During the week, the FITB gained 2.49 points, or 8.83%, and closed at 30.69 on Friday, December 01, 2017. Weekly volume was 17% above average.

FITB is a member of Financial Sector. Financial is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See FITB long-term trend chart]
A long-term uptrend had started on February 11, 2016 at 13.84 and reached 31.12 on November 30, 2017. FITB gained -17.28 points, or -124.86%, in 94 weeks. The chart has formed a Descending Triangle chart pattern. The uptrend resistance line (26.52) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 FITB medium-term trend chart]
A medium-term uptrend had started on September 7, 2017 at 24.66 and reached 31.12 on November 30, 2017. FITB gained -6.46 points, or -26.20%, in 12 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (28.04) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 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. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD bearish 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since September 15, 2017. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. 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 November 13, 2017 at 27.38 and reached 31.12 on November 30, 2017. FITB gained -3.74 points, or -13.66%, in 17 days. The price is now at the 11.50% retracement level.

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

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

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish 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) 86.83
Overbought
Williams' Percentage Range (W%R) 13.90
Overbought
Lane's Stochastic (%D-Slow) 80.46
Overbought
Greed/Fear Indicator (GFI) 84.46
Overbought
Moving Average Converg./Diverg. (MACD) 0.22
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 68.58
Williams' Percentage Range (W%R) 8.00
Strong Overbought
Lane's Stochastic (%D-Slow) 78.84
Bearish
Greed/Fear Indicator (GFI) 80.37
Overbought
Moving Average Converg./Diverg. (MACD) 0.78 Bearish
Trading Signals
Description Value Chart
Daily Stochastic Crossing 30.81
Price 30.69
Upper Bollinger Band 30.66
Weekly Trendline Resistance 30.36
Weekly Stochastic Crossing 30.17
20 Day Moving Average 28.80
Parabolic System 28.58
50 Day Moving Average 28.46
Weekly Trendline Support 28.04
Quarterly Trendline Resistance 27.91
Lower Bollinger Band 27.36
Quarterly Trendline Support 26.52
Sector and Industry
Description Name Rank
Sector Financial 9
Industry Regional-Midwest Banks 133
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 27.38
Low Date 11/13/2017
High 31.12
High Date 11/30/2017
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 30.36
Support 28.04
Low 24.66
Low Date 09/07/2017
High 31.12
High Date 11/30/2017
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 23.20
Low Date 06/01/2017
High 31.12
High Date 11/30/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Descending Triangle
Status Broken Resistance
Resistance 27.91
Support 26.52
Low 13.84
Low Date 02/11/2016
High 31.12
High Date 11/30/2017
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 1.01
Low Date 02/20/2009
High 31.12
High Date 11/30/2017
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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