The Greedy Trader Weekly Analysis
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Monthly 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
Intuitive Surgical Inc.
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Summary:
Weekly :Williams' Percentage Range is overboughtMACD bearish divergenceTrend support at 470.81
Daily :Stochastic signal line moved below overbought areaDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARThe period of low volatility of the stock price
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It was the negative week for the Intuitive Surgical Inc. (ISRG). During the week, the ISRG dropped -9.56 points, or -2.04%, and closed at 458.79 on Friday, May 18, 2018. ISRG was trading at average weekly trading volume.

Long-term trend: [See ISRG long-term trend chart]
A long-term uptrend had started on February 28, 2003 at 7.34 and reached 1094.55 on October 5, 2017. ISRG gained -1087.21 points, or -14812.13%, in 761 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (470.81) line. The support is usually stronger when technical indicators are oversold. 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 support line in a long-term trend.

Medium-term trend: [See ISRG medium-term trend chart]
A medium-term uptrend had started on October 19, 2017 at 350.00 and reached 473.79 on April 18, 2018. ISRG gained -123.79 points, or -35.37%, in 25 weeks. The price is now at the 12.12% retracement level.

Weekly Technical Indicators: [See ISRG weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 Williams' Percentage Range help.

The weekly MACD line is above its signal line since January 19, 2018. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See ISRG short-term trend chart]
A short-term uptrend had started on April 4, 2018 at 393.57 and reached 473.79 on April 18, 2018. ISRG gained -80.22 points, or -20.38%, in 14 days. The chart has formed a Descending Triangle chart pattern.

Daily Technical Indicators: [See ISRG 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. 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.

The distance between the Bollinger Bands is falling, and it was 8.61% on Friday. It is 74.34% lower than one year average. It indicates the period of low volatility of the stock price. 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) 66.32
Williams' Percentage Range (W%R) 32.00
Lane's Stochastic (%D-Slow) 49.79
Greed/Fear Indicator (GFI) 61.37
Moving Average Converg./Diverg. (MACD) 9.14
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 63.79
Williams' Percentage Range (W%R) 13.20
Overbought
Lane's Stochastic (%D-Slow) 76.80
Greed/Fear Indicator (GFI) 72.92
Moving Average Converg./Diverg. (MACD) -52.30 Bearish
Trading Signals
Description Value Chart
Parabolic System 473.25
Upper Bollinger Band 473.22
Yearly Trendline Support 470.81
Daily Stochastic Crossing 461.37
Price 458.79
20 Day Moving Average 454.46
Weekly Stochastic Crossing 454.46
50 Day Moving Average 435.54
Lower Bollinger Band 433.68
Sector and Industry
Description Name Rank
Sector Healthcare 6
Industry Medical Appliances/Equip. 121
Daily Trend
Description Value
Direction Up
Chart Pattern Descending Triangle
Low 393.57
Low Date 04/04/2018
High 473.79
High Date 04/18/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 380.00
Low Date 02/09/2018
High 473.79
High Date 04/18/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 350.00
Low Date 10/19/2017
High 473.79
High Date 04/18/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 1094.55
High Date 10/05/2017
Low 350.00
Low Date 10/19/2017
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Test Support
Resistance 1154.00
Support 470.81
Low 7.34
Low Date 02/28/2003
High 1094.55
High Date 10/05/2017
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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