The Greedy Trader Weekly Analysis
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Weekly Pattern:Rising Pennant
Number of records: 2
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Chart Analysis and Chart Pattern Recognition – Bear Flag, Bull Flag, Bearish Pennant and Bullish Pennant.

Bear flag, bull flag, bearish pennant and bullish pennant chart patterns represent brief pauses after sharp moves in a dynamic market. They are considered as most reliable continuation patterns. Flags are characterized as short-term channels slanting against the main trend. Pennants represent short-term triangle formations. Volume is heavy during the sharp move preceding the formation.
Trading technique:
# 1 Flags and pennants present an additional opportunity to enter the dynamic market.
Tips:
# 1
Usually flags and pennants represent short-term pauses technically required to reset overbought/oversold technical indicators and allow further movement. They likely to appear at earlier stages of the larger patterns, when short-term technical indicators are grossly overbought/oversold, but long-term indicators are in the middle range. In a situation when both long and short-term indicators are overbought (oversold), flags and pennants have more chances to become the beginning of a larger formation. Flags and pennants are considered invalid as soon as they break the parent's formation trend line.
# 2 As a continuation pattern, rectangle usually appears within a young trend characterized by neutral long-term indicators and overbought/oversold short-term indicators. Rectangle resets daily CTI to neutral and then continues the movement in parent's direction.
# 3 For the best results, chart patterns should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: projected support/resistance level of larger trend.

LyondellBasell
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Summary:
Weekly :Broken trend support lineStochastic signal line moved below overbought areaBroken trend resistance line
Daily :Price has crossed below the 50 Day Moving AverageBullish Homing Pigeon CandlestickPrice is near the Fibonacci 23.6% retracement levelThe Bollinger Bands are historically far apart
Move cursor over the icon to see details.

It was the negative week for the LyondellBasell (LYB). During the week, the LYB dropped -5.18 points, or -4.62%, and closed at 106.99 on Friday, February 09, 2018. Weekly volume was 46% above average.

Long-term trend: [See LYB long-term trend chart]
A long-term uptrend had started on January 20, 2016 at 69.10 and reached 121.95 on January 29, 2018. LYB gained -52.85 points, or -76.48%, in 105 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (80.44) 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 LYB medium-term trend chart]
A medium-term uptrend had started on June 6, 2017 at 78.01 and reached 121.95 on January 29, 2018. LYB gained -43.94 points, or -56.33%, in 33 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (116.84) 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 medium-term trend.

Weekly Technical Indicators: [See LYB weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. 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 July 14, 2017. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See LYB short-term trend chart]
A short-term downtrend had started on January 29, 2018 at 121.95 and reached 102.82 on February 9, 2018. LYB lost 19.13 points, or 15.69%, in 11 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

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

The daily MACD line is below its signal line since January 29, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.

The distance between the Bollinger Bands (17.42%) is close to one year high (12.48%). It is 135.72% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell signal for the option traders. 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 price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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.

Candlestick pattern: [See LYB candlestick chart pattern]
On Friday the chart has formed a Bullish Homing Pigeon Candlestick pattern. A Bullish Homing Pigeon pattern occurs in a downtrend. Market usually has a tendency to enter into a congestion phase following a Homing Pigeon pattern.The reliability of the Bullish Homing Pigeon is medium. Use the Technical Stock Screener to see the list of stocks that had a Bullish Homing Pigeon Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 31.64
Williams' Percentage Range (W%R) 77.40
Lane's Stochastic (%D-Slow) 21.87
Greed/Fear Indicator (GFI) 25.38
Moving Average Converg./Diverg. (MACD) 0.68
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 51.93
Williams' Percentage Range (W%R) 55.80
Lane's Stochastic (%D-Slow) 78.92
Greed/Fear Indicator (GFI) 58.36
Moving Average Converg./Diverg. (MACD) 5.94
Trading Signals
Description Value Chart
Upper Bollinger Band 123.03
Quarterly Trendline Resistance 121.11
Weekly Stochastic Crossing 117.12
Quarterly Trendline Support 116.84
20 Day Moving Average 116.04
Parabolic System 113.39
50 Day Moving Average 111.97
Daily Stochastic Crossing 107.21
Price 106.99
Yearly Trendline Resistance 104.72
Lower Bollinger Band 104.37
Sector and Industry
Description Name Rank
Sector Basic Materials 4
Industry Specialty Chemicals 92
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 121.95
High Date 01/29/2018
Low 102.82
Low Date 02/09/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 121.95
High Date 01/29/2018
Low 102.82
Low Date 02/09/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 121.95
High Date 01/29/2018
Low 102.82
Low Date 02/09/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 121.11
Support 116.84
Low 78.01
Low Date 06/06/2017
High 121.95
High Date 01/29/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 104.72
Support 80.44
Low 69.10
Low Date 01/20/2016
High 121.95
High Date 01/29/2018
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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