The Greedy Trader Weekly Analysis
Sign In Oct 12, 2018
Skip Navigation Links
   Home
   AnalysisExpand    Analysis
   AlertsExpand    Alerts
   Stock PickExpand    Stock Pick
   MembersExpand    Members
   ResourcesExpand    Resources
   About UsExpand    About Us
TA Search
Weekly Pattern:Ascending Triangle
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 – Ascending Triangle Pattern
The ascending triangle pattern is a variation of symmetrical triangle formation that has a flat resistance line and a rising support line. The higher lows indicate the increasing demand and give the ascending triangle definitive bullish bias. The ascending triangle usually represents an accumulation stage in bullish market. The ascending triangle is considered as a continuation pattern, especially in an uptrend, but it may also mark a reversal in a downtrend. Volume usually increases on a breakout move. After breakout (similar to rectangle), resistance may turn into potential support and vice versa.
Ascending Triangle Screening page presents a list of stocks forming an Ascending Triangle Pattern.
Tips:
# 1As a continuation pattern, an ascending triangle usually appears within a young trend, characterized by neutral long-term indicators and overbought short-term indicators. An ascending triangle resets short-term indicators to neutral and then continues the movement in parent's direction.
# 2 As a reversal formation, an ascending triangle appears in a mature downtrend, characterized by oversold short-term and long-term indicators. This situation usually generates bullish 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 line.
Ascending Triangle Pattern,Ascending Triangle,Ascending Triangle Chart Pattern,Trend Support, chart pattern, chart, pattern, technical analysis, signals, chart analysis, pattern recognition, screening, technical trading
streetTRACKS Gold Shares
Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :Broken trend support lineBroken trend support line
Daily :Broken trend resistance lineDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARPrice has crossed above the 50 Day Moving AverageBullish Doji CandlestickThe price moved above the moving average in the center of the Bollinger BandsThe period of low volatility of the stock price
Move cursor over the icon to see details.

It was a first positive week for the streetTRACKS Gold Shares (GLD). During the week, the GLD climbed 1.06 points, or 0.94%, and closed at 113.82 on Friday, October 05, 2018. It was the best weekly gain since August 24, 2018. GLD was trading at average weekly trading volume.

Long-term trend: [See GLD long-term trend chart]
A long-term uptrend had started on December 17, 2015 at 100.23 and reached 131.15 on July 6, 2016. GLD gained -30.92 points, or -30.85%, in 28 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (119.25) is broken. A broken support is considered to be a long-term bearish 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 support in a long-term trend.

Medium-term trend: [See GLD medium-term trend chart]
A medium-term uptrend had started on December 15, 2016 at 107.00 and reached 129.51 on January 25, 2018. GLD gained -22.51 points, or -21.04%, in 58 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (125.96) is broken. A broken support is considered to be a long-term bearish 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 support in a medium-term trend.

Weekly Technical Indicators: [See GLD weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since April 20, 2018. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.

Short-term trend: [See GLD short-term trend chart]
A short-term downtrend had started on April 11, 2018 at 129.47 and reached 111.06 on August 15, 2018. GLD lost 18.41 points, or 14.22%, in 126 days. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (109.06) 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 short-term trend.

Daily Technical Indicators: [See GLD daily technical indicators chart]
Daily technical indicators are neutral.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

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 distance between the Bollinger Bands is falling, and it was 1.86% on Friday. It is 50.84% lower than one year average. It indicates the period of low 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 price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish 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.

Candlestick pattern: [See GLD candlestick chart pattern]
On Friday the chart has formed a Bullish Doji Candlestick pattern. Use the Technical Stock Screener to see the list of stocks that had a Bullish Doji Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 51.58
Williams' Percentage Range (W%R) 33.10
Lane's Stochastic (%D-Slow) 63.44
Greed/Fear Indicator (GFI) 60.64
Moving Average Converg./Diverg. (MACD) -0.22
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 30.45
Williams' Percentage Range (W%R) 78.50
Lane's Stochastic (%D-Slow) 37.38
Greed/Fear Indicator (GFI) 34.02
Moving Average Converg./Diverg. (MACD) -2.50
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 131.69
Yearly Trendline Resistance 128.77
Quarterly Trendline Support 125.96
Yearly Trendline Support 119.25
Upper Bollinger Band 114.47
Price 113.82
50 Day Moving Average 113.64
Daily Stochastic Crossing 113.64
20 Day Moving Average 113.41
Weekly Trendline Resistance 113.20
Weekly Stochastic Crossing 112.74
Lower Bollinger Band 112.37
Parabolic System 111.79
Weekly Trendline Support 109.06
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern Broadening Right-Angled, Descending Wedge
High 114.87
High Date 08/28/2018
Low 111.85
Low Date 09/27/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 113.20
Support 109.06
High 129.47
High Date 04/11/2018
Low 111.06
Low Date 08/15/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 129.51
High Date 01/25/2018
Low 111.06
Low Date 08/15/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 131.69
Support 125.96
Low 107.00
Low Date 12/15/2016
High 129.51
High Date 01/25/2018
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 128.77
Support 119.25
Low 100.23
Low Date 12/17/2015
High 131.15
High Date 07/06/2016
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.