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Quarterly Pattern:Descending Triangle
Number of records: 6
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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
- 2/9/2018
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General Mills
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Summary:
Weekly :Stochastic signal line moved below overbought areaPrice is near the Fibonacci 23.6% retracement levelBroken trend support line
Daily :20 Day Moving Average has crossed below the 50 Day Moving AverageWilliams' Percentage Range and Lane's Stochastic are oversoldStochastic has raised above the signal lineThe period of high volatility of the stock price
Move cursor over the icon to see details.

It was the negative week for the General Mills (GIS). During the week, the GIS dropped -1.23 points, or -2.20%, and closed at 54.72 on Friday, February 09, 2018. Weekly volume was 6% above average.

Long-term trend: [See GIS long-term trend chart]
A long-term downtrend had started on July 6, 2016 at 72.95 and reached 49.65 on November 7, 2017. GIS lost 23.30 points, or 31.94%, in 69 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Medium-term trend: [See GIS medium-term trend chart]
A medium-term uptrend had started on November 7, 2017 at 49.65 and reached 60.69 on January 25, 2018. GIS gained -11.04 points, or -22.24%, in 11 weeks. The chart has formed a Descending Triangle chart pattern. The uptrend support line (61.14) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. GIS may retest the broken support line. It is considered to be a resistance line now. 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 support in a medium-term trend.

Weekly Technical Indicators: [See GIS 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 10, 2017. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See GIS short-term trend chart]
A short-term uptrend had started on February 6, 2018 at 52.96 and reached 56.24 on February 7, 2018. GIS gained -3.28 points, or -6.19%, in 1 days. The price is now at the 46.34% retracement level.

Daily Technical Indicators: [See GIS daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Use the following link to access Williams' Percentage Range help.

The daily MACD line is below its signal line since January 2, 2018. The distance between MACD and the signal line is near its high and getting bigger.

The distance between the Bollinger Bands is 116.94% higher then one year average. It indicates the period of high volatility of the stock price. 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.

During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. 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) 27.15
Williams' Percentage Range (W%R) 81.20
Oversold
Lane's Stochastic (%D-Slow) 19.56
Oversold
Greed/Fear Indicator (GFI) 21.82
Moving Average Converg./Diverg. (MACD) -0.38
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.85
Williams' Percentage Range (W%R) 56.90
Lane's Stochastic (%D-Slow) 67.13
Greed/Fear Indicator (GFI) 54.22
Moving Average Converg./Diverg. (MACD) 0.30
Trading Signals
Description Value Chart
Upper Bollinger Band 61.30
Quarterly Trendline Support 61.14
Quarterly Trendline Resistance 60.75
50 Day Moving Average 57.97
20 Day Moving Average 57.82
Weekly Stochastic Crossing 57.76
Parabolic System 56.47
Price 54.72
Daily Stochastic Crossing 54.44
Lower Bollinger Band 52.94
Sector and Industry
Description Name Rank
Sector Consumer Goods 3
Industry Food - Major Diversified 77
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 52.96
Low Date 02/06/2018
High 56.24
High Date 02/07/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 52.96
Low Date 02/06/2018
High 56.24
High Date 02/07/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 60.69
High Date 01/25/2018
Low 52.96
Low Date 02/06/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Descending Triangle
Status Broken Support
Resistance 60.75
Support 61.14
Low 49.65
Low Date 11/07/2017
High 60.69
High Date 01/25/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 72.95
High Date 07/06/2016
Low 49.65
Low Date 11/07/2017
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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