The Greedy Trader Weekly Analysis
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Weekly Pattern:Rectangle
Number of records: 5
Symbol:  

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Rectangle Chart Pattern - Rectangle Pattern and Chart analysis
A rectangle chart pattern is characterized as a short-term horizontal channel, and it represents a trading range and indecision area that usually resolves in the direction of the main trend. Chart analysis usually considers the rectangle pattern as a continuation formation, but it can also mark significant top and bottom. The rectangle pattern within a younger parent trend has more chances to mark a continuation. To estimate the maturity of the parent trend, consult technical indicators. Volume should increase during breakout, but in contrast with other continuation patterns, the rectangle does not inherit standard volume behavior. After breakout, the rectangle pattern resistance may turn into potential support and vice versa.
Tips:
# 1 As a continuation pattern, the rectangle pattern usually appears within a young trend characterized by neutral long-term indicators and overbought/oversold daily indicators. The pattern resets short-term indicators to neutral and then continues movement in the parent's direction.
# 2 As a reversal formation, the pattern appears in a mature trend characterized by overbought/oversold indicators on long and short time frames. This situation usually generates divergence on weekly indicators.
# 3 For the best results, the rectangle chart pattern should be considered together with other technical analysis signals, chart analysis, and technical trading techniques.
Estimated target: the higher level parent's support/resistance line.
Rectangle, chart pattern, charts, pattern, chart analysis, pattern recognition, screener, screening, Trading Signals
Norfolk Southern Corp.
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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is overboughtLane's Stochastic is strongly overboughtBroken trend resistance line
Daily :The price has fallen below the Parabolic SARThe price is above the upper Bollinger BandThe Bollinger Bands are historically close together
Move cursor over the icon to see details.

It was the negative week for the Norfolk Southern Corp. (NSC). During the week, the NSC gave back -1.00 points, or -0.64%, and closed at 154.23 on Friday, June 08, 2018. Weekly volume was -9% below average.

NSC 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 NSC long-term trend chart]
A long-term uptrend had started on October 23, 2000 at 11.94 and reached 157.15 on January 16, 2018. NSC gained -145.21 points, or -1216.16%, in 899 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (74.06) 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 NSC medium-term trend chart]
A medium-term uptrend had started on April 6, 2018 at 127.79 and reached 156.17 on June 4, 2018. NSC gained -28.38 points, or -22.21%, in 8 weeks. The price is now at the 6.84% retracement level.

Weekly Technical Indicators: [See NSC weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range or strongly overbought weekly 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 11, 2018. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See NSC short-term trend chart]
A short-term downtrend had started on June 4, 2018 at 156.17 and reached 148.60 on June 6, 2018. NSC lost 7.57 points, or 4.85%, in 2 days. The price is now at the 74.37% retracement level.

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

The daily MACD line is below its signal line since May 22, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.

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 price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. The distance between the Bollinger Bands (3.4%) is close to one year low (3.31%). It is 63.27% 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) 53.68
Williams' Percentage Range (W%R) 52.60
Lane's Stochastic (%D-Slow) 46.65
Greed/Fear Indicator (GFI) 49.25
Moving Average Converg./Diverg. (MACD) 2.61
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.45
Williams' Percentage Range (W%R) 14.00
Overbought
Lane's Stochastic (%D-Slow) 90.29
Strong Overbought
Greed/Fear Indicator (GFI) 78.16
Moving Average Converg./Diverg. (MACD) 3.15
Trading Signals
Description Value Chart
Parabolic System 155.44
Price 154.23
Weekly Stochastic Crossing 153.90
Upper Bollinger Band 153.64
Daily Stochastic Crossing 152.28
20 Day Moving Average 152.24
Lower Bollinger Band 148.40
50 Day Moving Average 144.04
Yearly Trendline Resistance 143.80
Sector and Industry
Description Name Rank
Sector Services 8
Industry Railroads 137
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 148.60
Low Date 06/06/2018
High 154.25
High Date 06/08/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 156.17
High Date 06/04/2018
Low 148.60
Low Date 06/06/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 127.79
Low Date 04/06/2018
High 156.17
High Date 06/04/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 64.51
Low Date 02/03/2016
High 157.15
High Date 01/16/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 143.80
Support 74.06
Low 11.94
Low Date 10/23/2000
High 157.15
High Date 01/16/2018
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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