The Greedy Trader Weekly Analysis
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Weekly Pattern:Rising Pennant
Number of records: 3
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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 :Oversold sectorWilliams' Percentage Range is oversoldTrend support at 106.15
Daily :Relative Strength Index oversoldWilliams' Percentage Range and Lane's Stochastic are strongly oversoldStochastic has raised above the signal line
Move cursor over the icon to see details.

It was the negative week for the LyondellBasell (LYB). During the week, the LYB dropped -3.32 points, or -3.06%, and closed at 105.31 on Friday, September 14, 2018. Weekly volume was 41% above average.

LYB is a member of Basic Materials Sector. Basic Materials is the most oversold 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 LYB long-term trend chart]
A long-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 Pennant chart pattern. The price is near the trend support (106.15) line. The support is usually stronger when technical indicators are oversold. 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 support line in a long-term trend.

Medium-term trend: [See LYB medium-term trend chart]
A medium-term downtrend had started on May 24, 2018 at 119.39 and reached 103.85 on September 14, 2018. LYB lost 15.54 points, or 13.02%, in 16 weeks. The price is now at the 9.40% retracement level.

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

The weekly MACD line is below its signal line since August 31, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. 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 August 27, 2018 at 116.63 and reached 103.85 on September 14, 2018. LYB lost 12.78 points, or 10.96%, in 18 days. The price is now at the 11.42% retracement level.

Daily Technical Indicators: [See LYB daily technical indicators chart]
Daily Relative Strength Index is oversold while Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index or strongly oversold daily Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Use the following links to access Lane's Stochastic and Relative Strength Index help.

The daily MACD line is below its signal line since August 30, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 16.52
Oversold
Williams' Percentage Range (W%R) 90.80
Strong Oversold
Lane's Stochastic (%D-Slow) 9.30
Strong Oversold
Greed/Fear Indicator (GFI) 11.68
Oversold
Moving Average Converg./Diverg. (MACD) -0.62
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 27.39
Williams' Percentage Range (W%R) 84.80
Oversold
Lane's Stochastic (%D-Slow) 56.06
Greed/Fear Indicator (GFI) 39.26
Moving Average Converg./Diverg. (MACD) 1.41
Trading Signals
Description Value Chart
Upper Bollinger Band 117.26
Quarterly Trendline Resistance 116.92
20 Day Moving Average 111.58
Weekly Stochastic Crossing 111.15
50 Day Moving Average 110.61
Parabolic System 108.76
Quarterly Trendline Support 106.15
Price 105.31
Daily Stochastic Crossing 104.89
Lower Bollinger Band 102.67
Sector and Industry
Description Name Rank
Sector Basic Materials 1
Industry Specialty Chemicals 72
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 116.63
High Date 08/27/2018
Low 103.85
Low Date 09/14/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 116.63
High Date 08/27/2018
Low 103.85
Low Date 09/14/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 119.39
High Date 05/24/2018
Low 103.85
Low Date 09/14/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Pennant
Status Test Support
Resistance 116.92
Support 106.15
Low 78.01
Low Date 06/06/2017
High 121.95
High Date 01/29/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
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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