The Greedy Trader Weekly Analysis
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Yearly Pattern:Symmetric Triangle
Number of records: 5
Symbol:  

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Symmetric Triangle Chart Pattern Analysis - Symmetric Triangle Pattern.
A symmetric triangle pattern represents the area of indecision where the movement direction is questioned. Chart Pattern Analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of a larger trend, but it may also mark the trend reversal. Volume diminishes during the formation and explodes at the breakout. After breakout (similar to rectangle), support may turn into potential resistance and vice versa.
Tips:
# 1 As a continuation pattern, the symmetric triangle usually appears within a young trend characterized by neutral long-term indicators and overbought/oversold short-term indicators. The symmetric triangle resets short-term indicators to neutral and then continues movement in parent's direction.
# 2 As a reversal formation, the symmetric triangle chart pattern appears in a mature trend characterized by overbought/oversold long-term and short-term indicators. This situation usually generates divergence on long-term indicators. For the best results, the symmetric triangle pattern should be considered together with other chart pattern analysis, technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance line.
Symmetric Triangle Pattern,Symmetric Triangle Chart Pattern,Chart Pattern Analysis,chart pattern, charts, pattern, chart analysis, pattern recognition, screener, screening, Trading Signals
Archive
- 12/8/2017
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iShares FTSE/Xinhua China 25 Index
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Summary:
Weekly :Stochastic signal line moved below overbought areaWeekly  MACD line has moved below its signal lineBroken trend resistance lineBroken trend resistance line
Daily :Lane's Stochastic is oversold
Move cursor over the icon to see details.

It was the negative week for the iShares FTSE/Xinhua China 25 Index (FXI). During the week, the FXI gave back -0.23 points, or -0.50%, and closed at 45.57 on Friday, December 08, 2017. FXI was trading at average weekly trading volume.

Long-term trend: [See FXI long-term trend chart]
A long-term downtrend had started on April 27, 2015 at 52.85 and reached 28.10 on February 11, 2016. FXI lost 24.75 points, or 46.83%, in 41 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (40.27) is broken. A broken support is considered to be a long-term bullish signal. 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 FXI medium-term trend chart]
A medium-term uptrend had started on February 11, 2016 at 28.10 and reached 48.36 on November 22, 2017. FXI gained -20.26 points, or -72.10%, in 92 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (41.95) 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 medium-term trend.

Weekly Technical Indicators: [See FXI 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.

During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.

Short-term trend: [See FXI short-term trend chart]
A short-term downtrend had started on November 22, 2017 at 48.36 and reached 44.48 on December 7, 2017. FXI lost 3.88 points, or 8.02%, in 15 days. The price is now at the 28.09% retracement level.

Daily Technical Indicators: [See FXI daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic.

The daily MACD line is below its signal line since November 28, 2017. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.50
Williams' Percentage Range (W%R) 72.70
Lane's Stochastic (%D-Slow) 17.29
Oversold
Greed/Fear Indicator (GFI) 29.37
Moving Average Converg./Diverg. (MACD) 0.03
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 56.56
Williams' Percentage Range (W%R) 42.00
Lane's Stochastic (%D-Slow) 72.43
Greed/Fear Indicator (GFI) 61.23
Moving Average Converg./Diverg. (MACD) 1.74
Trading Signals
Description Value Chart
Monthly Trendline Resistance 48.42
Upper Bollinger Band 48.16
Weekly Stochastic Crossing 47.07
Parabolic System 46.83
20 Day Moving Average 46.56
50 Day Moving Average 46.19
Monthly Trendline Support 45.58
Price 45.57
Daily Stochastic Crossing 44.94
Lower Bollinger Band 44.26
Quarterly Trendline Resistance 44.10
Quarterly Trendline Support 41.95
Yearly Trendline Support 40.27
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 48.36
High Date 11/22/2017
Low 44.48
Low Date 12/07/2017
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 37.51
Low Date 04/19/2017
High 48.36
High Date 11/22/2017
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Support
Resistance 48.42
Support 45.58
Low 33.91
Low Date 12/23/2016
High 48.36
High Date 11/22/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 44.10
Support 41.95
Low 28.10
Low Date 02/11/2016
High 48.36
High Date 11/22/2017
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 28.24
Support 40.27
High 52.85
High Date 04/27/2015
Low 28.10
Low Date 02/11/2016
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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