The Greedy Trader Weekly Analysis
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Monthly Pattern:Ascending Triangle
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Chart Analysis and Chart Pattern Recognition – Ascending Triangle Pattern
The ascending triangle pattern is a variation of symmetrical triangle formation that has a flat resistance line and a rising support line. The higher lows indicate the increasing demand and give the ascending triangle definitive bullish bias. The ascending triangle usually represents an accumulation stage in bullish market. The ascending triangle is considered as a continuation pattern, especially in an uptrend, but it may also mark a reversal in a downtrend. Volume usually increases on a breakout move. After breakout (similar to rectangle), resistance may turn into potential support and vice versa.
Ascending Triangle Screening page presents a list of stocks forming an Ascending Triangle Pattern.
Tips:
# 1As a continuation pattern, an ascending triangle usually appears within a young trend, characterized by neutral long-term indicators and overbought short-term indicators. An ascending triangle resets short-term indicators to neutral and then continues the movement in parent's direction.
# 2 As a reversal formation, an ascending triangle appears in a mature downtrend, characterized by oversold short-term and long-term indicators. This situation usually generates bullish 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 line.
Ascending Triangle Pattern,Ascending Triangle,Ascending Triangle Chart Pattern,Trend Support, chart pattern, chart, pattern, technical analysis, signals, chart analysis, pattern recognition, screening, technical trading
CurrencyShares British Pound Sterling Tr
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Summary:
Weekly :Price is near the Fibonacci 61.8% retracement level
Daily :Lane's Stochastic is overboughtA Parabolic SAR indicator is above and near the pricePrice is close to the 50 Day Moving AverageDaily  MACD line has moved above its signal lineThe price has declined below 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 CurrencyShares British Pound Sterling Tr (FXB). During the week, the FXB gave back -0.01 points, or -0.01%, and closed at 125.80 on Friday, November 09, 2018. Weekly volume was -50% below average.

Long-term trend: [See FXB long-term trend chart]
A long-term uptrend had started on January 11, 2017 at 117.48 and reached 139.24 on April 16, 2018. FXB gained -21.76 points, or -18.52%, in 65 weeks. Price is near the Fibonacci 61.8% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Medium-term trend: [See FXB medium-term trend chart]
A medium-term downtrend had started on April 16, 2018 at 139.24 and reached 122.88 on August 15, 2018. FXB lost 16.36 points, or 11.75%, in 17 weeks. The price is now at the 17.85% retracement level.

Weekly Technical Indicators: [See FXB weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since September 21, 2018. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.

Short-term trend: [See FXB short-term trend chart]
A short-term uptrend had started on October 30, 2018 at 123.21 and reached 127.64 on November 7, 2018. FXB gained -4.43 points, or -3.60%, in 8 days. The chart has formed a Falling Channel chart pattern.

Daily Technical Indicators: [See FXB daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily 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 link to access Lane's Stochastic help.

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

A Parabolic SAR (stop and reversal) indicator (124.74) comes close to the price (125.80). It indicates that the trend is getting weaker. 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.

During the last week, the price has declined below 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.

Price is close to the 50 Day Moving Average. While 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) 50.10
Williams' Percentage Range (W%R) 34.80
Lane's Stochastic (%D-Slow) 85.33
Overbought
Greed/Fear Indicator (GFI) 66.88
Moving Average Converg./Diverg. (MACD) -0.23
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.55
Williams' Percentage Range (W%R) 45.20
Lane's Stochastic (%D-Slow) 51.30
Greed/Fear Indicator (GFI) 53.16
Moving Average Converg./Diverg. (MACD) -1.33
Trading Signals
Description Value Chart
Upper Bollinger Band 128.65
Daily Stochastic Crossing 126.95
50 Day Moving Average 126.44
20 Day Moving Average 125.91
Price 125.80
Weekly Stochastic Crossing 125.69
Parabolic System 124.74
Lower Bollinger Band 123.49
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Falling Channel
Low 123.21
Low Date 10/30/2018
High 127.64
High Date 11/07/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 128.45
High Date 10/11/2018
Low 123.21
Low Date 10/30/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 128.82
High Date 09/20/2018
Low 123.21
Low Date 10/30/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 139.24
High Date 04/16/2018
Low 122.88
Low Date 08/15/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 117.48
Low Date 01/11/2017
High 139.24
High Date 04/16/2018
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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