The Greedy Trader Weekly Analysis
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Weekly Pattern:Symmetric Triangle
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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 sectorPrice is near the Fibonacci 38.2% retracement levelBroken trend resistance line
Daily :Lane's Stochastic is overboughtDaily  MACD line has moved above its signal lineThe price moved above the moving average in the center of the Bollinger BandsThe period of high volatility of the stock price
Move cursor over the icon to see details.

It was a first positive week for the Lockheed Martin Corp. (LMT). During the week, the LMT gained 13.84 points, or 4.62%, and closed at 313.12 on Friday, November 09, 2018. It was the best weekly gain since July 13, 2018. Weekly volume was -13% 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 downtrend had started on February 16, 2018 at 363.00 and reached 283.21 on October 29, 2018. LMT lost 79.79 points, or 21.98%, in 36 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Medium-term trend: [See LMT medium-term trend chart]
A medium-term downtrend had started on October 3, 2018 at 351.35 and reached 283.21 on October 29, 2018. LMT lost 68.14 points, or 19.39%, in 3 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (82.46) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. LMT may retest the broken resistance line. It is considered to be a support line now. 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 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 October 26, 2018. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.

Short-term trend: [See LMT short-term trend chart]
A short-term uptrend had started on October 29, 2018 at 283.21 and reached 314.16 on November 9, 2018. LMT gained -30.95 points, or -10.93%, in 11 days. Price is near the trend high.

Daily Technical Indicators: [See LMT daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily 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 link to access Lane's Stochastic help.

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

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is 117.29% 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) 40.15
Williams' Percentage Range (W%R) 55.70
Lane's Stochastic (%D-Slow) 80.36
Overbought
Greed/Fear Indicator (GFI) 54.92
Moving Average Converg./Diverg. (MACD) -8.10
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 46.74
Williams' Percentage Range (W%R) 64.80
Lane's Stochastic (%D-Slow) 34.89
Greed/Fear Indicator (GFI) 38.98
Moving Average Converg./Diverg. (MACD) 1.23
Trading Signals
Description Value Chart
Upper Bollinger Band 341.56
50 Day Moving Average 326.73
Price 313.12
20 Day Moving Average 312.01
Daily Stochastic Crossing 311.96
Weekly Stochastic Crossing 301.77
Parabolic System 301.07
Lower Bollinger Band 283.48
Sector and Industry
Description Name Rank
Sector Industrial Goods 2
Industry Aerospace/Defense-Maj Dvd 93
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 283.21
Low Date 10/29/2018
High 314.16
High Date 11/09/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 85.69
Support 82.46
High 351.35
High Date 10/03/2018
Low 283.21
Low Date 10/29/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 363.00
High Date 02/16/2018
Low 283.21
Low Date 10/29/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 66.36
Low Date 08/11/2011
High 363.00
High Date 02/16/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
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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