The Greedy Trader Weekly Analysis
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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 :Broken trend support lineBroken trend support lineWilliams' Percentage Range oversoldLane's Stochastic is strongly oversoldStochastic has raised above the signal line
Daily :Stochastic signal line moved above oversold areaThe price has risen above the Parabolic SARPrice is near the Fibonacci 23.6% retracement level
Move cursor over the icon to see details.

It was a first positive week after 3 consecutive negative weeks for the streetTRACKS Gold Shares (GLD). During the week, the GLD climbed 0.21 points, or 0.18%, and closed at 118.86 on Friday, July 06, 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 Descending Triangle chart pattern. The uptrend support line (121.62) 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 (123.29) 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 Williams' Percentage Range is oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Williams' Percentage Range or strongly oversold weekly Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is below its signal line since April 20, 2018. The distance between MACD and the signal line is near its high and getting bigger. 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 June 14, 2018 at 123.86 and reached 117.40 on July 2, 2018. GLD lost 6.46 points, or 5.22%, in 18 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See GLD daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal.

The daily MACD line is below its signal line since June 15, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 32.54
Williams' Percentage Range (W%R) 75.70
Lane's Stochastic (%D-Slow) 34.24
Greed/Fear Indicator (GFI) 30.36
Moving Average Converg./Diverg. (MACD) -1.17
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 25.68
Williams' Percentage Range (W%R) 87.00
Oversold
Lane's Stochastic (%D-Slow) 8.92
Strong Oversold
Greed/Fear Indicator (GFI) 18.52
Oversold
Moving Average Converg./Diverg. (MACD) 0.01
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 130.90
Yearly Trendline Resistance 128.16
Upper Bollinger Band 123.81
Quarterly Trendline Support 123.29
50 Day Moving Average 122.29
Yearly Trendline Support 121.62
20 Day Moving Average 120.41
Price 118.86
Daily Stochastic Crossing 118.22
Weekly Stochastic Crossing 118.11
Parabolic System 117.32
Lower Bollinger Band 116.45
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 123.86
High Date 06/14/2018
Low 117.40
Low Date 07/02/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 129.47
High Date 04/11/2018
Low 117.40
Low Date 07/02/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 129.51
High Date 01/25/2018
Low 117.40
Low Date 07/02/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 130.90
Support 123.29
Low 107.00
Low Date 12/15/2016
High 129.51
High Date 01/25/2018
Description Value
Direction Up
Chart Pattern Descending Triangle
Status Broken Support
Resistance 128.16
Support 121.62
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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