The Greedy Trader Weekly Analysis
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Weekly Pattern:Descending Triangle
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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
Garmin Ltd.
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Summary:
Weekly :
Daily :Stochastic signal line moved below overbought areaPrice is near the Fibonacci 23.6% retracement levelPrice is close to the 50 Day Moving Average
Move cursor over the icon to see details.

It was the negative week for the Garmin Ltd. (GRMN). During the week, the GRMN gave back -0.04 points, or -0.06%, and closed at 66.11 on Friday, November 09, 2018. Weekly volume was 13% above average.

Long-term trend: [See GRMN long-term trend chart]
A long-term uptrend had started on November 21, 2008 at 14.40 and reached 70.77 on October 1, 2018. GRMN gained -56.37 points, or -391.46%, in 514 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 34.74 and resistance is at 83.93. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.

Medium-term trend: [See GRMN medium-term trend chart]
A medium-term downtrend had started on October 1, 2018 at 70.77 and reached 60.55 on October 26, 2018. GRMN lost 10.22 points, or 14.44%, in 3 weeks. The price is now at the 54.40% retracement level.

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

The weekly MACD line is below its signal line since October 12, 2018. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.

Short-term trend: [See GRMN short-term trend chart]
A short-term uptrend had started on October 26, 2018 at 60.55 and reached 67.95 on November 1, 2018. GRMN gained -7.40 points, or -12.22%, in 6 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See GRMN daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily 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 daily MACD line is above its signal line since October 30, 2018. This is an indication that the short-term trend is up.

Price is close to the 50 Day Moving Average. 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) 62.89
Williams' Percentage Range (W%R) 20.30
Lane's Stochastic (%D-Slow) 66.80
Greed/Fear Indicator (GFI) 69.80
Moving Average Converg./Diverg. (MACD) -0.44
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.72
Williams' Percentage Range (W%R) 38.00
Lane's Stochastic (%D-Slow) 27.01
Greed/Fear Indicator (GFI) 47.10
Moving Average Converg./Diverg. (MACD) 1.57
Trading Signals
Description Value Chart
Upper Bollinger Band 68.78
50 Day Moving Average 66.52
Daily Stochastic Crossing 66.44
Price 66.11
Parabolic System 64.19
20 Day Moving Average 63.77
Weekly Stochastic Crossing 63.28
Lower Bollinger Band 61.15
Sector and Industry
Description Name Rank
Sector Technology 3
Industry Scientific/Tech Instrmnts 107
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 60.55
Low Date 10/26/2018
High 67.95
High Date 11/01/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 70.77
High Date 10/01/2018
Low 60.55
Low Date 10/26/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 57.01
Low Date 04/25/2018
High 70.77
High Date 10/01/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 30.93
Low Date 01/20/2016
High 70.77
High Date 10/01/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 83.93
Support 34.74
Low 14.40
Low Date 11/21/2008
High 70.77
High Date 10/01/2018
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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