The Greedy Trader Weekly Analysis
Sign In Aug 10, 2018
Skip Navigation Links
   Home
   AnalysisExpand    Analysis
   AlertsExpand    Alerts
   Stock PickExpand    Stock Pick
   MembersExpand    Members
   ResourcesExpand    Resources
   About UsExpand    About Us
TA Search
Yearly Pattern:Falling Pennant
Number of records: 3
Symbol:  

• Symbol Lookup
• Add to Watch List
• Candlestick Patterns - N/A
• Stock Technical Indicators
• Stock Trends Analysis
• Market Sector Rank
• Stock Trading Signals
Chart Analysis and Chart Pattern Recognition – Bear Flag, Bull Flag, Bearish Pennant and Bullish Pennant.

Bear flag, bull flag, bearish pennant and bullish pennant chart patterns represent brief pauses after sharp moves in a dynamic market. They are considered as most reliable continuation patterns. Flags are characterized as short-term channels slanting against the main trend. Pennants represent short-term triangle formations. Volume is heavy during the sharp move preceding the formation.
Trading technique:
# 1 Flags and pennants present an additional opportunity to enter the dynamic market.
Tips:
# 1
Usually flags and pennants represent short-term pauses technically required to reset overbought/oversold technical indicators and allow further movement. They likely to appear at earlier stages of the larger patterns, when short-term technical indicators are grossly overbought/oversold, but long-term indicators are in the middle range. In a situation when both long and short-term indicators are overbought (oversold), flags and pennants have more chances to become the beginning of a larger formation. Flags and pennants are considered invalid as soon as they break the parent's formation trend line.
# 2 As a continuation pattern, rectangle usually appears within a young trend characterized by neutral long-term indicators and overbought/oversold short-term indicators. Rectangle resets daily CTI to neutral and then continues the movement in parent's direction.
# 3 For the best results, chart patterns should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: projected support/resistance level of larger trend.

CurrencyShares Japanese Yen Trust
Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :Broken trend resistance lineWilliams' Percentage Range is oversoldTrend resistance at 82.92
Daily :Stochastic signal line moved below overbought areaA Parabolic SAR indicator is above and near the pricePrice is near the Fibonacci 23.6% retracement levelThe price is close to the moving average in the center of the Bollinger BandsPrice is close to the 50 Day Moving Average
Move cursor over the icon to see details.

It was the negative week for the CurrencyShares Japanese Yen Trust (FXY). During the week, the FXY gave back -0.16 points, or -0.19%, and closed at 86.04 on Friday, August 03, 2018. Weekly volume was 14% above average.

Long-term trend: [See FXY long-term trend chart]
A long-term uptrend had started on June 5, 2015 at 77.19 and reached 96.75 on August 18, 2016. FXY gained -19.56 points, or -25.34%, in 62 weeks. The chart has formed a Falling Pennant chart pattern. The price is near the trend resistance line (82.92). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.

Medium-term trend: [See FXY medium-term trend chart]
A medium-term downtrend had started on March 23, 2018 at 91.62 and reached 84.63 on July 19, 2018. FXY lost 6.99 points, or 7.63%, in 16 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (84.24) 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 medium-term trend.

Weekly Technical Indicators: [See FXY weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 April 20, 2018. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.

Short-term trend: [See FXY short-term trend chart]
A short-term uptrend had started on July 19, 2018 at 84.63 and reached 86.44 on July 25, 2018. FXY gained -1.81 points, or -2.14%, 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 FXY daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since July 20, 2018. This is an indication that the short-term trend is up.

A Parabolic SAR (stop and reversal) indicator (85.54) comes close to the price (86.04). 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.

The price is close to 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. 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) 61.78
Williams' Percentage Range (W%R) 36.20
Lane's Stochastic (%D-Slow) 50.65
Greed/Fear Indicator (GFI) 58.74
Moving Average Converg./Diverg. (MACD) -0.22
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 37.87
Williams' Percentage Range (W%R) 82.10
Oversold
Lane's Stochastic (%D-Slow) 20.48
Greed/Fear Indicator (GFI) 28.08
Moving Average Converg./Diverg. (MACD) -0.16
Trading Signals
Description Value Chart
Upper Bollinger Band 86.90
50 Day Moving Average 86.49
Price 86.04
Yearly Trendline Support 85.86
Daily Stochastic Crossing 85.85
20 Day Moving Average 85.66
Parabolic System 85.54
Weekly Trendline Resistance 85.38
Weekly Stochastic Crossing 85.25
Lower Bollinger Band 84.94
Weekly Trendline Support 84.24
Yearly Trendline Resistance 82.92
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 84.63
Low Date 07/19/2018
High 86.44
High Date 07/25/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 85.38
Support 84.24
High 91.62
High Date 03/23/2018
Low 84.63
Low Date 07/19/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 83.92
Low Date 11/03/2017
High 91.62
High Date 03/23/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 81.33
Low Date 01/03/2017
High 91.62
High Date 03/23/2018
Description Value
Direction Up
Chart Pattern Falling Pennant
Status Test Resistance
Resistance 82.92
Support 85.86
Low 77.19
Low Date 06/05/2015
High 96.75
High Date 08/18/2016
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.

Copyright© 2004-2016 All rights reserved.