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 :Overbought sectorWilliams' Percentage Range and Lane's Stochastic are overbought
Daily :Daily  MACD line has moved above its signal lineThe price has risen above the Parabolic SAR
Move cursor over the icon to see details.

It was a first positive week for the LyondellBasell (LYB). During the week, the LYB gained 4.97 points, or 4.39%, and closed at 118.09 on Friday, June 08, 2018. Weekly volume was -15% below average.

LYB is a member of Basic Materials Sector. Basic Materials 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 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 price is now at the 8.78% retracement level.

Medium-term trend: [See LYB medium-term trend chart]
A medium-term uptrend had started on April 4, 2018 at 96.19 and reached 119.39 on May 24, 2018. LYB gained -23.20 points, or -24.12%, in 7 weeks. The price is now at the 5.60% retracement level.

Weekly Technical Indicators: [See LYB weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. 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 Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since May 18, 2018. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend 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 May 24, 2018 at 119.39 and reached 110.97 on May 29, 2018. LYB lost 8.42 points, or 7.05%, in 5 days. The price is now at the 84.56% retracement level.

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

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 54.42
Williams' Percentage Range (W%R) 27.20
Lane's Stochastic (%D-Slow) 70.44
Greed/Fear Indicator (GFI) 65.89
Moving Average Converg./Diverg. (MACD) 1.96
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 61.31
Williams' Percentage Range (W%R) 18.80
Overbought
Lane's Stochastic (%D-Slow) 82.41
Overbought
Greed/Fear Indicator (GFI) 73.00
Moving Average Converg./Diverg. (MACD) 2.18
Trading Signals
Description Value Chart
Upper Bollinger Band 118.51
Price 118.09
Daily Stochastic Crossing 117.49
Weekly Stochastic Crossing 117.12
20 Day Moving Average 114.93
Parabolic System 112.04
Lower Bollinger Band 109.59
50 Day Moving Average 109.07
Sector and Industry
Description Name Rank
Sector Basic Materials 10
Industry Specialty Chemicals 94
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 119.39
High Date 05/24/2018
Low 110.97
Low Date 05/29/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 96.19
Low Date 04/04/2018
High 119.39
High Date 05/24/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 121.95
High Date 01/29/2018
Low 96.19
Low Date 04/04/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
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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