The Greedy Trader Weekly Analysis
Sign In Dec 8, 2017
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:Rising Pennant
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
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
Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :Relative Strength Index and Williams' Percentage Range are overboughtTrend resistance at 103.61
Daily :The price has fallen below the Parabolic SARPrice is near the Fibonacci 38.2% retracement levelThe Bollinger Bands are historically close together
Move cursor over the icon to see details.

It was the negative week for the LyondellBasell (LYB). During the week, the LYB gave back -0.24 points, or -0.23%, and closed at 104.10 on Friday, December 01, 2017. Weekly volume was -18% below 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 107.83 on October 30, 2017. LYB gained -38.73 points, or -56.05%, in 92 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (103.61). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the 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 107.83 on October 30, 2017. LYB gained -29.82 points, or -38.23%, in 20 weeks. The price is now at the 12.51% retracement level.

Weekly Technical Indicators: [See LYB weekly technical indicators chart]
Weekly Relative Strength Index and Williams' Percentage Range are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and 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 links to access Relative Strength Index and Williams' Percentage Range 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. 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 October 30, 2017 at 107.83 and reached 101.78 on November 15, 2017. LYB lost 6.05 points, or 5.61%, in 16 days. Price is near the Fibonacci 38.2% 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 November 10, 2017. This is an indication that the short-term trend is down.

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 (3.65%) is close to one year low (3.64%). It is 52.68% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.84
Williams' Percentage Range (W%R) 37.60
Lane's Stochastic (%D-Slow) 70.46
Greed/Fear Indicator (GFI) 60.55
Moving Average Converg./Diverg. (MACD) 1.10
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 83.86
Overbought
Williams' Percentage Range (W%R) 11.70
Overbought
Lane's Stochastic (%D-Slow) 75.80
Greed/Fear Indicator (GFI) 75.52
Moving Average Converg./Diverg. (MACD) 3.81
Trading Signals
Description Value Chart
Parabolic System 107.94
Upper Bollinger Band 105.65
Daily Stochastic Crossing 104.93
Weekly Stochastic Crossing 104.89
20 Day Moving Average 104.44
Price 104.10
Quarterly Trendline Resistance 103.61
Lower Bollinger Band 101.83
50 Day Moving Average 101.55
Sector and Industry
Description Name Rank
Sector Basic Materials 6
Industry Specialty Chemicals 101
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Low 101.78
Low Date 11/15/2017
High 105.89
High Date 11/29/2017
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 107.83
High Date 10/30/2017
Low 101.78
Low Date 11/15/2017
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 78.01
Low Date 06/06/2017
High 107.83
High Date 10/30/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Resistance
Resistance 103.61
Support 79.33
Low 69.10
Low Date 01/20/2016
High 107.83
High Date 10/30/2017
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 115.40
High Date 09/19/2014
Low 69.10
Low Date 01/20/2016
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.