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Weekly Pattern:Ascending Triangle
Number of records: 2
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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
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Summary:
Weekly :Williams' Percentage Range is oversold
Daily :Daily  MACD line has moved below its signal lineThe price is below the lower Bollinger BandWilliams' Percentage Range and Lane's Stochastic are oversold
Move cursor over the icon to see details.

It was the negative week for the streetTRACKS Gold Shares (GLD). During the week, the GLD dropped -3.12 points, or -2.57%, and closed at 118.48 on Friday, December 08, 2017. Weekly volume was 15% above average.

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 trend support level is at 113.66 and resistance is at 127.70. 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 larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend.

Medium-term trend: [See GLD medium-term trend chart]
A medium-term downtrend had started on September 7, 2017 at 128.32 and reached 118.10 on December 7, 2017. GLD lost 10.22 points, or 7.96%, in 13 weeks. Price is near the trend low.

Weekly Technical Indicators: [See GLD weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly 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 October 13, 2017. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. 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 November 27, 2017 at 123.33 and reached 118.10 on December 7, 2017. GLD lost 5.23 points, or 4.24%, in 10 days. The price is now at the 7.27% retracement level.

Daily Technical Indicators: [See GLD 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. Use the following link to access Lane's Stochastic help.

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

The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 25.80
Williams' Percentage Range (W%R) 89.90
Oversold
Lane's Stochastic (%D-Slow) 12.27
Oversold
Greed/Fear Indicator (GFI) 16.07
Oversold
Moving Average Converg./Diverg. (MACD) -0.23
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 32.24
Williams' Percentage Range (W%R) 90.90
Strong Oversold
Lane's Stochastic (%D-Slow) 31.17
Greed/Fear Indicator (GFI) 26.59
Moving Average Converg./Diverg. (MACD) 0.78
Trading Signals
Description Value Chart
Yearly Trendline Resistance 127.70
Upper Bollinger Band 123.39
Parabolic System 122.14
50 Day Moving Average 121.48
20 Day Moving Average 121.32
Weekly Stochastic Crossing 120.10
Lower Bollinger Band 118.57
Daily Stochastic Crossing 118.55
Price 118.48
Yearly Trendline Support 113.66
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 123.33
High Date 11/27/2017
Low 118.10
Low Date 12/07/2017
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 128.32
High Date 09/07/2017
Low 118.10
Low Date 12/07/2017
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 107.00
Low Date 12/15/2016
High 128.32
High Date 09/07/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 131.15
High Date 07/06/2016
Low 107.00
Low Date 12/15/2016
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Valid
Resistance 127.70
Support 113.66
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.

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