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Quarterly Pattern:Descending Triangle
Number of records: 4
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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
General Mills
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Summary:
Weekly :Williams' Percentage Range is overboughtOversold sectorBroken trend resistance line
Daily :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overbought
Move cursor over the icon to see details.

It was a first positive week for the General Mills (GIS). During the week, the GIS gained 2.81 points, or 5.24%, and closed at 56.46 on Friday, December 01, 2017. Weekly volume was 32% above average.

GIS is a member of Consumer Goods Sector. Consumer Goods is the second most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

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. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (50.40) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. GIS may retest the broken resistance line. It is considered to be a support 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 resistance line in a long-term trend.

Medium-term trend: [See GIS medium-term trend chart]
A medium-term uptrend had started on November 7, 2017 at 49.65 and reached 56.96 on November 30, 2017. GIS gained -7.31 points, or -14.72%, in 3 weeks. The price is now at the 6.84% retracement level.

Weekly Technical Indicators: [See GIS weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 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 November 22, 2017 at 53.21 and reached 56.96 on November 30, 2017. GIS gained -3.75 points, or -7.05%, in 8 days. The price is now at the 13.33% retracement level.

Daily Technical Indicators: [See GIS daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since November 7, 2017. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 68.45
Williams' Percentage Range (W%R) 6.20
Strong Overbought
Lane's Stochastic (%D-Slow) 89.70
Overbought
Greed/Fear Indicator (GFI) 84.00
Overbought
Moving Average Converg./Diverg. (MACD) 0.65
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 54.68
Williams' Percentage Range (W%R) 16.20
Overbought
Lane's Stochastic (%D-Slow) 53.46
Greed/Fear Indicator (GFI) 63.27
Moving Average Converg./Diverg. (MACD) -1.54
Trading Signals
Description Value Chart
Upper Bollinger Band 57.35
Daily Stochastic Crossing 56.68
Price 56.46
Parabolic System 55.24
Weekly Stochastic Crossing 54.12
Yearly Trendline Resistance 53.54
20 Day Moving Average 53.50
50 Day Moving Average 52.40
Lower Bollinger Band 50.55
Yearly Trendline Support 50.40
Sector and Industry
Description Name Rank
Sector Consumer Goods 2
Industry Food - Major Diversified 52
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 53.21
Low Date 11/22/2017
High 56.96
High Date 11/30/2017
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 53.21
Low Date 11/22/2017
High 56.96
High Date 11/30/2017
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 53.21
Low Date 11/22/2017
High 56.96
High Date 11/30/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 49.65
Low Date 11/07/2017
High 56.96
High Date 11/30/2017
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 53.54
Support 50.40
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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