The Greedy Trader Weekly Analysis
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Yearly Pattern:Symmetric Triangle
Number of records: 6
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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
NASDAQ OMX Group Inc.
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Summary:
Weekly :Overbought sectorStochastic signal line moved below overbought areaBroken trend resistance lineBroken trend resistance line
Daily :Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are oversold
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It was the negative week for the NASDAQ OMX Group Inc. (NDAQ). During the week, the NDAQ dropped -1.16 points, or -1.27%, and closed at 90.11 on Friday, July 06, 2018. Weekly volume was -34% below average.

NDAQ is a member of Services Sector. Services is the second 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 NDAQ long-term trend chart]
A long-term uptrend had started on November 21, 2008 at 14.96 and reached 96.19 on June 13, 2018. NDAQ gained -81.23 points, or -542.98%, in 498 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (32.09) 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 NDAQ medium-term trend chart]
A medium-term uptrend had started on August 8, 2011 at 20.32 and reached 96.19 on June 13, 2018. NDAQ gained -75.87 points, or -373.38%, in 357 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (76.73) 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 medium-term trend.

Weekly Technical Indicators: [See NDAQ 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 February 23, 2018. 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 NDAQ short-term trend chart]
A short-term uptrend had started on November 7, 2017 at 71.65 and reached 96.19 on June 13, 2018. NDAQ gained -24.54 points, or -34.25%, in 218 days. The chart has formed a Broadening Ascending Wedge chart pattern.

Daily Technical Indicators: [See NDAQ daily technical indicators chart]
Daily Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. Use the following links to access Relative Strength Index and Williams' Percentage Range help.

The daily MACD line is below its signal line since June 14, 2018. The distance between MACD and the signal line is relatively high, but getting smaller.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 17.19
Oversold
Williams' Percentage Range (W%R) 89.80
Oversold
Lane's Stochastic (%D-Slow) 13.19
Oversold
Greed/Fear Indicator (GFI) 13.52
Oversold
Moving Average Converg./Diverg. (MACD) 0.05
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 59.49
Williams' Percentage Range (W%R) 30.50
Lane's Stochastic (%D-Slow) 75.83
Greed/Fear Indicator (GFI) 67.12
Moving Average Converg./Diverg. (MACD) 3.74
Trading Signals
Description Value Chart
Upper Bollinger Band 95.74
Weekly Stochastic Crossing 94.30
20 Day Moving Average 93.00
Parabolic System 92.88
50 Day Moving Average 91.63
Price 90.11
Daily Stochastic Crossing 90.11
Lower Bollinger Band 88.33
Monthly Trendline Resistance 86.65
Quarterly Trendline Resistance 84.97
Monthly Trendline Support 79.27
Quarterly Trendline Support 76.73
Sector and Industry
Description Name Rank
Sector Services 8
Industry Business Services 137
Daily Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Low 71.65
Low Date 11/07/2017
High 96.19
High Date 06/13/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 65.98
Low Date 05/10/2017
High 96.19
High Date 06/13/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 86.65
Support 79.27
Low 21.03
Low Date 06/15/2012
High 96.19
High Date 06/13/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 84.97
Support 76.73
Low 20.32
Low Date 08/08/2011
High 96.19
High Date 06/13/2018
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 14.02
Support 32.09
Low 14.96
Low Date 11/21/2008
High 96.19
High Date 06/13/2018
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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