The Greedy Trader Weekly Analysis
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Yearly Pattern:Rectangle
Number of records: 2
Symbol:  

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Rectangle Chart Pattern - Rectangle Pattern and Chart analysis
A rectangle chart pattern is characterized as a short-term horizontal channel, and it represents a trading range and indecision area that usually resolves in the direction of the main trend. Chart analysis usually considers the rectangle pattern as a continuation formation, but it can also mark significant top and bottom. The rectangle pattern within a younger parent trend has more chances to mark a continuation. To estimate the maturity of the parent trend, consult technical indicators. Volume should increase during breakout, but in contrast with other continuation patterns, the rectangle does not inherit standard volume behavior. After breakout, the rectangle pattern resistance may turn into potential support and vice versa.
Tips:
# 1 As a continuation pattern, the rectangle pattern usually appears within a young trend characterized by neutral long-term indicators and overbought/oversold daily indicators. The pattern resets short-term indicators to neutral and then continues movement in the parent's direction.
# 2 As a reversal formation, the pattern appears in a mature trend characterized by overbought/oversold indicators on long and short time frames. This situation usually generates divergence on weekly indicators.
# 3 For the best results, the rectangle chart pattern should be considered together with other technical analysis signals, chart analysis, and technical trading techniques.
Estimated target: the higher level parent's support/resistance line.
Rectangle, chart pattern, charts, pattern, chart analysis, pattern recognition, screener, screening, Trading Signals
Halliburton Co.
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Summary:
Weekly :Broken trend support lineBroken trend support line
Daily :Stochastic signal line moved below overbought areaDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SAR20 Day Moving Average has crossed above the 50 Day Moving AverageThe price has declined below 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 Halliburton Co. (HAL). During the week, the HAL dropped -2.40 points, or -5.71%, and closed at 39.60 on Friday, October 12, 2018. Weekly volume was 6% above average.

Long-term trend: [See HAL long-term trend chart]
A long-term uptrend had started on January 20, 2016 at 27.64 and reached 58.78 on January 26, 2017. HAL gained -31.14 points, or -112.66%, in 53 weeks. The chart has formed a Descending Triangle chart pattern. The uptrend support line (45.84) 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 HAL medium-term trend chart]
A medium-term uptrend had started on August 18, 2017 at 38.18 and reached 57.86 on January 23, 2018. HAL gained -19.68 points, or -51.55%, in 22 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (50.24) 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 HAL weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since June 1, 2018. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.

Short-term trend: [See HAL short-term trend chart]
A short-term uptrend had started on September 7, 2018 at 35.75 and reached 42.57 on October 9, 2018. HAL gained -6.82 points, or -19.08%, in 32 days. The chart has formed a Rising Wedge chart pattern.

Daily Technical Indicators: [See HAL 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.

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

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.

During the last week, the price has declined below 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 20 Day Moving Average 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) 36.17
Williams' Percentage Range (W%R) 62.10
Lane's Stochastic (%D-Slow) 41.93
Greed/Fear Indicator (GFI) 38.65
Moving Average Converg./Diverg. (MACD) 0.31
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 36.05
Williams' Percentage Range (W%R) 74.50
Lane's Stochastic (%D-Slow) 59.36
Greed/Fear Indicator (GFI) 41.81
Moving Average Converg./Diverg. (MACD) -1.91
Trading Signals
Description Value Chart
Yearly Trendline Support 45.84
Upper Bollinger Band 42.60
Parabolic System 42.27
20 Day Moving Average 40.81
Weekly Stochastic Crossing 40.46
50 Day Moving Average 40.30
Daily Stochastic Crossing 40.15
Price 39.60
Lower Bollinger Band 38.73
Monthly Trendline Support 33.99
Sector and Industry
Description Name Rank
Sector Basic Materials 6
Industry Oil & Gas Equipment/Svcs 32
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Low 35.75
Low Date 09/07/2018
High 42.57
High Date 10/09/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 54.91
High Date 05/17/2018
Low 35.75
Low Date 09/07/2018
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 51.11
Support 33.99
High 57.86
High Date 01/23/2018
Low 35.75
Low Date 09/07/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 51.11
Support 50.24
Low 38.18
Low Date 08/18/2017
High 57.86
High Date 01/23/2018
Description Value
Direction Up
Chart Pattern Descending Triangle
Status Broken Support
Resistance 57.18
Support 45.84
Low 27.64
Low Date 01/20/2016
High 58.78
High Date 01/26/2017
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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