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Weekly Pattern:Descending Triangle
Number of records: 2
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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 :Williams' Percentage Range and Lane's Stochastic are overbought
Daily :Daily  MACD line has moved below its signal linePrice is near the Fibonacci 23.6% retracement levelThe price is close to the moving average in the center of the Bollinger Bands
Move cursor over the icon to see details.

It was the negative week for the Garmin Ltd. (GRMN). During the week, the GRMN dropped -1.08 points, or -1.66%, and closed at 63.83 on Friday, August 10, 2018. Weekly volume was 9% 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 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 34.52 and resistance is at 82.64. 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 price is now at the 76.20% retracement level.

Weekly Technical Indicators: [See GRMN weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. 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 above its signal line since July 6, 2018. 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 June 25, 2018 at 59.39 and reached 65.33 on August 6, 2018. GRMN gained -5.94 points, or -10.00%, in 42 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 MACD line has moved below its signal line. Such crossover is considered a bearish signal.

The price is close to 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 49.73
Williams' Percentage Range (W%R) 24.10
Lane's Stochastic (%D-Slow) 78.46
Greed/Fear Indicator (GFI) 68.02
Moving Average Converg./Diverg. (MACD) 0.64
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 64.30
Williams' Percentage Range (W%R) 11.70
Overbought
Lane's Stochastic (%D-Slow) 82.17
Overbought
Greed/Fear Indicator (GFI) 75.97
Moving Average Converg./Diverg. (MACD) 0.92
Trading Signals
Description Value Chart
Upper Bollinger Band 65.34
Daily Stochastic Crossing 64.68
Weekly Stochastic Crossing 64.15
20 Day Moving Average 63.95
Price 63.83
Parabolic System 62.79
50 Day Moving Average 62.44
Lower Bollinger Band 62.07
Sector and Industry
Description Name Rank
Sector Technology 6
Industry Scientific/Tech Instrmnts 101
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 59.39
Low Date 06/25/2018
High 65.33
High Date 08/06/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 57.01
Low Date 04/25/2018
High 65.33
High Date 08/06/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
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 82.64
Support 34.52
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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