The Greedy Trader Weekly Analysis
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Weekly Pattern:Descending Triangle
Number of records: 2
Symbol:  

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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 :Overbought sectorBroken trend resistance line
Daily :Price has crossed above the 50 Day Moving AveragePrice is near the Fibonacci 23.6% retracement levelThe price moved above the moving average in the center of the Bollinger Bands
Move cursor over the icon to see details.

It was a first positive week for the Garmin Ltd. (GRMN). During the week, the GRMN climbed 0.47 points, or 0.79%, and closed at 59.76 on Friday, May 18, 2018. Weekly volume was -35% below average.

GRMN is a member of Technology Sector. Technology is the second most overbought 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 GRMN long-term trend chart]
A long-term uptrend had started on November 21, 2008 at 14.40 and reached 65.96 on February 20, 2018. GRMN gained -51.56 points, or -358.06%, in 482 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 34.31 and resistance is at 81.48. 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 February 20, 2018 at 65.96 and reached 57.01 on April 25, 2018. GRMN lost 8.95 points, or 13.57%, in 9 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (56.73) 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 medium-term trend.

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

The weekly MACD line is below its signal line since February 16, 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 May 15, 2018 at 58.71 and reached 60.07 on May 17, 2018. GRMN gained -1.36 points, or -2.32%, in 2 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.

The daily MACD line is above its signal line since May 15, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.41
Williams' Percentage Range (W%R) 50.80
Lane's Stochastic (%D-Slow) 48.94
Greed/Fear Indicator (GFI) 51.84
Moving Average Converg./Diverg. (MACD) 0.05
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 46.19
Williams' Percentage Range (W%R) 70.10
Lane's Stochastic (%D-Slow) 38.38
Greed/Fear Indicator (GFI) 39.08
Moving Average Converg./Diverg. (MACD) 0.90
Trading Signals
Description Value Chart
Upper Bollinger Band 61.25
Price 59.76
Daily Stochastic Crossing 59.50
50 Day Moving Average 59.32
20 Day Moving Average 59.31
Weekly Stochastic Crossing 59.28
Parabolic System 58.94
Lower Bollinger Band 57.66
Monthly Trendline Resistance 57.31
Monthly Trendline Support 56.73
Sector and Industry
Description Name Rank
Sector Technology 8
Industry Scientific/Tech Instrmnts 52
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 58.71
Low Date 05/15/2018
High 60.07
High Date 05/17/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 57.01
Low Date 04/25/2018
High 62.46
High Date 05/02/2018
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 57.31
Support 56.73
High 65.96
High Date 02/20/2018
Low 57.01
Low Date 04/25/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 30.93
Low Date 01/20/2016
High 65.96
High Date 02/20/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 81.48
Support 34.31
Low 14.40
Low Date 11/21/2008
High 65.96
High Date 02/20/2018
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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