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 :Overbought sectorBroken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is strongly overbought
Daily :Broken trend support lineWilliams' Percentage Range is overboughtThe price has fallen below the Parabolic SAR20 Day Moving Average has crossed above the 50 Day Moving AverageThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Lockheed Martin Corp. (LMT). During the week, the LMT gave back -2.25 points, or -0.71%, and closed at 313.57 on Friday, December 01, 2017. It was the worst weekly loss since October 27, 2017. Weekly volume was 35% above average.

LMT is a member of Industrial Goods Sector. Industrial Goods is the 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 322.19 on October 13, 2017. LMT gained -264.78 points, or -461.21%, in 449 weeks. The chart has formed a Rectangle chart pattern. The uptrend resistance line (53.47) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 322.19 on October 13, 2017. LMT gained -255.83 points, or -385.52%, in 322 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 258.76 and resistance is at 324.85. 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 Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. 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 below its signal line since October 27, 2017. 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 322.19 on October 13, 2017. LMT gained -76.69 points, or -31.24%, in 305 days. The chart has formed a Rising Channel chart pattern. The uptrend support line (317.02) is broken. A broken support is considered to be a long-term bearish signal. 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 support in a short-term trend.

Daily Technical Indicators: [See LMT daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range.

The daily MACD line is above its signal line since November 17, 2017. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

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.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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.

During the last week, the 20 Day Moving Average 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) 53.63
Williams' Percentage Range (W%R) 17.20
Overbought
Lane's Stochastic (%D-Slow) 78.91
Greed/Fear Indicator (GFI) 71.79
Moving Average Converg./Diverg. (MACD) 1.10
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.07
Williams' Percentage Range (W%R) 8.60
Strong Overbought
Lane's Stochastic (%D-Slow) 58.57
Greed/Fear Indicator (GFI) 68.40
Moving Average Converg./Diverg. (MACD) 10.32
Trading Signals
Description Value Chart
Weekly Trendline Resistance 326.46
Quarterly Trendline Resistance 324.85
Parabolic System 321.53
Upper Bollinger Band 321.18
Daily Stochastic Crossing 318.84
Weekly Trendline Support 317.02
Weekly Stochastic Crossing 315.14
20 Day Moving Average 314.12
50 Day Moving Average 313.71
Price 313.57
Lower Bollinger Band 308.49
Quarterly Trendline Support 258.76
Sector and Industry
Description Name Rank
Sector Industrial Goods 10
Industry Aerospace/Defense-Maj Dvd 103
Daily Trend
Description Value
Direction Up
Chart Pattern Ascending Triangle
Low 303.31
Low Date 10/26/2017
High 321.21
High Date 11/29/2017
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 326.46
Support 317.02
Low 245.50
Low Date 12/12/2016
High 322.19
High Date 10/13/2017
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 228.50
Low Date 10/21/2016
High 322.19
High Date 10/13/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 324.85
Support 258.76
Low 66.36
Low Date 08/11/2011
High 322.19
High Date 10/13/2017
Description Value
Direction Up
Chart Pattern Rectangle
Status Broken Resistance
Resistance 74.08
Support 53.47
Low 57.41
Low Date 03/06/2009
High 322.19
High Date 10/13/2017
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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