The Greedy Trader Weekly Analysis
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Weekly Pattern:Symmetric Triangle
Number of records: 5
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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 :Broken trend resistance line
Daily :Daily  MACD line has moved below its signal lineWilliams' Percentage Range is oversoldPrice is close to the 50 Day Moving AverageBroken trend support lineThe price has declined below the moving average in the center of the Bollinger Bands
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 -7.43 points, or -2.32%, and closed at 313.12 on Friday, August 10, 2018. It was the worst weekly loss since June 22, 2018. Weekly volume was -9% below average.

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 (52.33) 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 280.38 and resistance is at 375.90. 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 low and getting smaller. 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 June 28, 2018 at 291.52 and reached 329.65 on July 24, 2018. LMT gained -38.13 points, or -13.08%, in 26 days. The chart has formed a Rising Pennant chart pattern. The uptrend support line (331.66) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. LMT may retest the broken support line. It is considered to be a resistance 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 support in a short-term trend.

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

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 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.

Price is close to the 50 Day Moving Average. While daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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) 42.18
Williams' Percentage Range (W%R) 80.80
Oversold
Lane's Stochastic (%D-Slow) 20.46
Greed/Fear Indicator (GFI) 27.29
Moving Average Converg./Diverg. (MACD) 2.31
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 50.90
Williams' Percentage Range (W%R) 66.80
Lane's Stochastic (%D-Slow) 70.51
Greed/Fear Indicator (GFI) 50.55
Moving Average Converg./Diverg. (MACD) -2.28
Trading Signals
Description Value Chart
Weekly Trendline Support 331.66
Upper Bollinger Band 324.23
Parabolic System 322.19
Weekly Trendline Resistance 321.28
Weekly Stochastic Crossing 320.26
20 Day Moving Average 320.15
Daily Stochastic Crossing 314.21
Price 313.12
50 Day Moving Average 312.80
Lower Bollinger Band 310.46
Quarterly Trendline Support 280.38
Sector and Industry
Description Name Rank
Sector Industrial Goods 3
Industry Aerospace/Defense-Maj Dvd 32
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 329.65
High Date 07/24/2018
Low 311.39
Low Date 08/10/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Pennant
Status Broken Support
Resistance 321.28
Support 331.66
Low 291.52
Low Date 06/28/2018
High 329.65
High Date 07/24/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 363.00
High Date 02/16/2018
Low 291.52
Low Date 06/28/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 375.90
Support 280.38
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 72.95
Support 52.33
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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