The Greedy Trader Weekly Analysis
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Yearly Pattern:Falling Channel
Number of records: 6
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Channeling Stock - rising channel and falling channel.
Stock channeling technique is one of the most efficient and widely used trading technique. Price channel represents price movement bound by parallel lower (support) and upper (resistance) trend lines. Channels with rising trend lines (rising channel) are considered bullish and the falling channel is considered as bearish . Channels are continuation formations as far as support and resistance are not broken.
Trading technique:
# 1
Buy channeling stock on support and sell on resistance.
# 2 For bullish channel: sell channeling stock when price breakes the stock channeling support line. For bearish channel: buy channeling stock when price breaks the resistance line.
Tips:
# 1 For the best results, stock channeling should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance line.
channeling stock,stock channeling,rising channel,falling channel,Price Channel
CurrencyShares British Pound Sterling Tr
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Summary:
Weekly :Stochastic signal line moved below overbought areaBroken trend resistance line
Daily :Stochastic signal line moved above oversold areaThe price has risen above the Parabolic SARPrice is near the Fibonacci 23.6% retracement levelThe price moved above the moving average in the center of the Bollinger Bands
Move cursor over the icon to see details.

It was a first positive week for the CurrencyShares British Pound Sterling Tr (FXB). During the week, the FXB gained 1.82 points, or 1.35%, and closed at 136.17 on Friday, February 16, 2018. Weekly volume was -60% 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 139.08 on January 25, 2018. FXB gained -21.60 points, or -18.39%, in 54 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (130.00) 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 FXB medium-term trend chart]
A medium-term downtrend had started on January 25, 2018 at 139.08 and reached 133.74 on February 9, 2018. FXB lost 5.34 points, or 3.84%, in 2 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 132.30 and resistance is at 137.93. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See FXB weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 above its signal line since November 24, 2017. 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 February 9, 2018 at 133.74 and reached 137.00 on February 15, 2018. FXB gained -3.26 points, or -2.44%, in 6 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See FXB daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal.

The daily MACD line is below its signal line since February 2, 2018.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.

During the last week, the price has moved above 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) 47.12
Williams' Percentage Range (W%R) 55.20
Lane's Stochastic (%D-Slow) 54.21
Greed/Fear Indicator (GFI) 48.70
Moving Average Converg./Diverg. (MACD) 0.83
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 73.22
Williams' Percentage Range (W%R) 23.90
Lane's Stochastic (%D-Slow) 79.60
Greed/Fear Indicator (GFI) 72.41
Moving Average Converg./Diverg. (MACD) 1.79
Trading Signals
Description Value Chart
Upper Bollinger Band 137.98
Monthly Trendline Resistance 137.93
Weekly Stochastic Crossing 136.81
20 Day Moving Average 136.35
Price 136.17
Daily Stochastic Crossing 135.84
Yearly Trendline Resistance 135.66
Parabolic System 133.67
50 Day Moving Average 133.31
Lower Bollinger Band 132.99
Monthly Trendline Support 132.30
Yearly Trendline Support 130.00
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 133.74
Low Date 02/09/2018
High 137.00
High Date 02/15/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 133.74
Low Date 02/09/2018
High 137.00
High Date 02/15/2018
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 137.93
Support 132.30
High 139.08
High Date 01/25/2018
Low 133.74
Low Date 02/09/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 126.73
Low Date 10/06/2017
High 139.08
High Date 01/25/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 135.66
Support 130.00
Low 117.48
Low Date 01/11/2017
High 139.08
High Date 01/25/2018
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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