The Greedy Trader Weekly Analysis
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Weekly Pattern:Symmetric Triangle
Number of records: 4
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Symmetric Triangle Chart Pattern Analysis - Symmetric Triangle Pattern.
A symmetric triangle pattern represents the area of indecision where the movement direction is questioned. Chart Pattern Analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of a larger trend, but it may also mark the trend reversal. Volume diminishes during the formation and explodes at the breakout. After breakout (similar to rectangle), support may turn into potential resistance and vice versa.
Tips:
# 1 As a continuation pattern, the symmetric triangle usually appears within a young trend characterized by neutral long-term indicators and overbought/oversold short-term indicators. The symmetric triangle resets short-term indicators to neutral and then continues movement in parent's direction.
# 2 As a reversal formation, the symmetric triangle chart pattern appears in a mature trend characterized by overbought/oversold long-term and short-term indicators. This situation usually generates divergence on long-term indicators. For the best results, the symmetric triangle pattern should be considered together with other chart pattern analysis, technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance line.
Symmetric Triangle Pattern,Symmetric Triangle Chart Pattern,Chart Pattern Analysis,chart pattern, charts, pattern, chart analysis, pattern recognition, screener, screening, Trading Signals
Lockheed Martin Corp.
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Summary:
Weekly :Oversold sectorBroken trend resistance line
Daily :The period of high volatility of the stock price
Move cursor over the icon to see details.

It was the negative week for the Lockheed Martin Corp. (LMT). During the week, the LMT dropped -3.59 points, or -1.11%, and closed at 320.45 on Friday, May 18, 2018. Weekly volume was -9% below average.

LMT is a member of Industrial Goods Sector. Industrial Goods is the second most oversold 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 LMT long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 57.41 and reached 363.00 on February 16, 2018. LMT gained -305.59 points, or -532.29%, in 467 weeks. The chart has formed a Rectangle chart pattern. The uptrend resistance line (52.71) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 long-term trend.

Medium-term trend: [See LMT medium-term trend chart]
A medium-term uptrend had started on August 11, 2011 at 66.36 and reached 363.00 on February 16, 2018. LMT gained -296.64 points, or -447.02%, in 340 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 273.13 and resistance is at 363.94. 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 medium-term trend.

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

The weekly MACD line is below its signal line since March 9, 2018. The distance between MACD and the signal line is near its high and getting bigger. Use the following link to access a MACD help.

Short-term trend: [See LMT short-term trend chart]
A short-term downtrend had started on May 10, 2018 at 329.02 and reached 317.00 on May 15, 2018. LMT lost 12.02 points, or 3.65%, in 5 days. The price is now at the 28.70% retracement level.

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

The daily MACD line is above its signal line since May 10, 2018. The distance between MACD and the signal line is low, but getting bigger.

The distance between the Bollinger Bands is 112.54% higher then one year average. It indicates the period of high 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) 49.57
Williams' Percentage Range (W%R) 67.00
Lane's Stochastic (%D-Slow) 53.22
Greed/Fear Indicator (GFI) 45.24
Moving Average Converg./Diverg. (MACD) -4.93
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 42.06
Williams' Percentage Range (W%R) 67.60
Lane's Stochastic (%D-Slow) 35.51
Greed/Fear Indicator (GFI) 36.75
Moving Average Converg./Diverg. (MACD) 7.57
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 363.94
Upper Bollinger Band 346.38
50 Day Moving Average 332.41
Daily Stochastic Crossing 323.04
20 Day Moving Average 322.45
Price 320.45
Weekly Stochastic Crossing 317.68
Parabolic System 309.53
Lower Bollinger Band 302.06
Quarterly Trendline Support 273.13
Sector and Industry
Description Name Rank
Sector Industrial Goods 2
Industry Aerospace/Defense-Maj Dvd 70
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 329.02
High Date 05/10/2018
Low 317.00
Low Date 05/15/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 361.99
High Date 04/24/2018
Low 300.50
Low Date 05/03/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 363.00
High Date 02/16/2018
Low 300.50
Low Date 05/03/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 363.94
Support 273.13
Low 66.36
Low Date 08/11/2011
High 363.00
High Date 02/16/2018
Description Value
Direction Up
Chart Pattern Rectangle
Status Broken Resistance
Resistance 73.33
Support 52.71
Low 57.41
Low Date 03/06/2009
High 363.00
High Date 02/16/2018
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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