The Greedy Trader Weekly Analysis
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Yearly Pattern:Rectangle
Number of records: 1
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
Archive
- 12/8/2017
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Halliburton Co.
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Summary:
Weekly :Trend resistance at 43.90
Daily :Price has crossed above the 50 Day Moving Average
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It was a second consecutive positive week for the Halliburton Co. (HAL). During the week, the HAL gained 0.93 points, or 2.16%, and closed at 43.99 on Friday, December 08, 2017. Weekly volume was 9% 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 Rectangle chart pattern. The price is near the trend resistance line (43.90). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.

Medium-term trend: [See HAL medium-term trend chart]
A medium-term downtrend had started on January 26, 2017 at 58.78 and reached 38.18 on August 18, 2017. HAL lost 20.60 points, or 35.05%, in 29 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 40.26 and resistance is at 45.34. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a medium-term trend.

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

The weekly MACD line is above its signal line since September 15, 2017. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.

Short-term trend: [See HAL short-term trend chart]
A short-term downtrend had started on September 29, 2017 at 46.18 and reached 40.72 on November 28, 2017. HAL lost 5.46 points, or 11.82%, in 60 days. The chart has formed a Falling Channel chart pattern. The trend support level is at 40.67 and resistance is at 45.69. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a short-term trend.

Daily Technical Indicators: [See HAL daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since November 30, 2017.

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) 69.96
Williams' Percentage Range (W%R) 31.80
Lane's Stochastic (%D-Slow) 65.70
Greed/Fear Indicator (GFI) 67.94
Moving Average Converg./Diverg. (MACD) -0.18
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 63.91
Williams' Percentage Range (W%R) 30.00
Lane's Stochastic (%D-Slow) 40.51
Greed/Fear Indicator (GFI) 54.67
Moving Average Converg./Diverg. (MACD) -0.91
Trading Signals
Description Value Chart
Weekly Trendline Resistance 45.69
Quarterly Trendline Resistance 45.34
Upper Bollinger Band 45.19
Price 43.99
Yearly Trendline Resistance 43.90
Daily Stochastic Crossing 43.66
50 Day Moving Average 43.38
20 Day Moving Average 42.45
Weekly Stochastic Crossing 42.33
Parabolic System 42.07
Weekly Trendline Support 40.67
Lower Bollinger Band 40.47
Quarterly Trendline Support 40.26
Yearly Trendline Support 39.45
Sector and Industry
Description Name Rank
Sector Basic Materials 5
Industry Oil & Gas Equipment/Svcs 33
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 40.72
Low Date 11/28/2017
High 45.21
High Date 12/04/2017
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 45.69
Support 40.67
High 46.18
High Date 09/29/2017
Low 40.72
Low Date 11/28/2017
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 38.18
Low Date 08/18/2017
High 46.18
High Date 09/29/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 45.34
Support 40.26
High 58.78
High Date 01/26/2017
Low 38.18
Low Date 08/18/2017
Description Value
Direction Up
Chart Pattern Rectangle
Status Test Resistance
Resistance 43.90
Support 39.45
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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