The Greedy Trader Weekly Analysis
Sign In Feb 16, 2018
Skip Navigation Links
   Home
   AnalysisExpand    Analysis
   AlertsExpand    Alerts
   IndustriesExpand    Industries
   Stock PickExpand    Stock Pick
   MembersExpand    Members
   ResourcesExpand    Resources
   About UsExpand    About Us
TA Search
Weekly Pattern:Symmetric Triangle
Number of records: 2
Symbol:  

• Symbol Lookup
• Add to Watch List
• Candlestick Patterns - N/A
• Stock Technical Indicators
• Stock Trends Analysis
• Market Sector Rank
• Stock Trading Signals
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.
Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :Overbought sectorLane's Stochastic is overboughtBroken trend resistance lineBroken trend resistance line
Daily :Stochastic signal line moved below overbought areaDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARBroken trend resistance lineBullish Harami CandlestickThe 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 -11.24 points, or -3.19%, and closed at 341.42 on Friday, February 09, 2018. It was the worst weekly loss since October 27, 2017. Weekly volume was 152% above average.

LMT is a member of Industrial Goods Sector. Industrial Goods is the second most overbought 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 361.79 on February 1, 2018. LMT gained -304.38 points, or -530.19%, in 464 weeks. The chart has formed a Rectangle chart pattern. The uptrend resistance line (53.16) 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 361.79 on February 1, 2018. LMT gained -295.43 points, or -445.19%, in 338 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (264.63) 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 medium-term trend.

Weekly Technical Indicators: [See LMT weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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.

The weekly MACD line is above its signal line since January 5, 2018. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. 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 December 12, 2016 at 245.50 and reached 361.79 on February 1, 2018. LMT gained -116.29 points, or -47.37%, in 416 days. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (331.13) 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 short-term trend.

Daily Technical Indicators: [See LMT 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.

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 127.92% 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.

Candlestick pattern: [See LMT candlestick chart pattern]
On Friday the chart has formed a Bullish Harami Candlestick pattern. A Bullish Harami indicates that the bearish trend may be reversing, it signals that it's a good time to enter into a long position. Use the Technical Stock Screener to see the list of stocks that had a Bullish Harami Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.84
Williams' Percentage Range (W%R) 66.40
Lane's Stochastic (%D-Slow) 36.24
Greed/Fear Indicator (GFI) 42.56
Moving Average Converg./Diverg. (MACD) 5.52
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 69.78
Williams' Percentage Range (W%R) 40.50
Lane's Stochastic (%D-Slow) 81.68
Overbought
Greed/Fear Indicator (GFI) 66.36
Moving Average Converg./Diverg. (MACD) 10.39
Trading Signals
Description Value Chart
Parabolic System 359.35
Upper Bollinger Band 357.07
Weekly Stochastic Crossing 352.25
Monthly Trendline Resistance 351.50
Price 341.42
Weekly Trendline Resistance 340.57
20 Day Moving Average 339.80
Daily Stochastic Crossing 339.68
Quarterly Trendline Resistance 333.67
Weekly Trendline Support 331.13
50 Day Moving Average 327.94
Monthly Trendline Support 324.57
Lower Bollinger Band 320.79
Sector and Industry
Description Name Rank
Sector Industrial Goods 8
Industry Aerospace/Defense-Maj Dvd 145
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Low 303.31
Low Date 10/26/2017
High 361.79
High Date 02/01/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 340.57
Support 331.13
Low 245.50
Low Date 12/12/2016
High 361.79
High Date 02/01/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 351.50
Support 324.57
Low 228.50
Low Date 10/21/2016
High 361.79
High Date 02/01/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 333.67
Support 264.63
Low 66.36
Low Date 08/11/2011
High 361.79
High Date 02/01/2018
Description Value
Direction Up
Chart Pattern Rectangle
Status Broken Resistance
Resistance 73.77
Support 53.16
Low 57.41
Low Date 03/06/2009
High 361.79
High Date 02/01/2018
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.

Copyright© 2004-2016 All rights reserved.