The Greedy Trader Weekly Analysis
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Weekly Pattern:Rectangle
Number of records: 3
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 :Relative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overboughtBroken trend resistance line
Daily :The price has risen above 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 a first positive week for the Norfolk Southern Corp. (NSC). During the week, the NSC gained 3.26 points, or 1.88%, and closed at 177.10 on Friday, September 07, 2018. NSC was trading at average weekly trading volume.

Long-term trend: [See NSC long-term trend chart]
A long-term uptrend had started on October 23, 2000 at 11.94 and reached 177.85 on September 7, 2018. NSC gained -165.91 points, or -1389.53%, in 932 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (74.95) 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 177.85 on September 7, 2018. NSC gained -50.06 points, or -39.17%, in 22 weeks. Price is near the trend high.

Weekly Technical Indicators: [See NSC weekly technical indicators chart]
Weekly Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index or strongly 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, Relative Strength Index 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. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.

Short-term trend: [See NSC short-term trend chart]
A short-term uptrend had started on August 31, 2018 at 173.05 and reached 177.85 on September 7, 2018. NSC gained -4.80 points, or -2.77%, in 7 days. The price is now at the 15.62% 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 August 10, 2018. The distance between MACD and the signal line is low and getting smaller.

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.

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. The distance between the Bollinger Bands (3.25%) is close to one year low (3.13%). It is 63.34% 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) 62.51
Williams' Percentage Range (W%R) 49.10
Lane's Stochastic (%D-Slow) 44.62
Greed/Fear Indicator (GFI) 52.68
Moving Average Converg./Diverg. (MACD) 2.61
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 82.65
Overbought
Williams' Percentage Range (W%R) 8.50
Strong Overbought
Lane's Stochastic (%D-Slow) 92.92
Strong Overbought
Greed/Fear Indicator (GFI) 82.89
Overbought
Moving Average Converg./Diverg. (MACD) 7.19
Trading Signals
Description Value Chart
Price 177.10
Upper Bollinger Band 176.28
Weekly Stochastic Crossing 176.02
Daily Stochastic Crossing 175.49
20 Day Moving Average 174.14
Parabolic System 173.86
Lower Bollinger Band 170.51
50 Day Moving Average 166.83
Yearly Trendline Resistance 145.59
Sector and Industry
Description Name Rank
Sector Services 7
Industry Railroads 149
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 173.05
Low Date 08/31/2018
High 177.85
High Date 09/07/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 147.22
Low Date 06/28/2018
High 177.85
High Date 09/07/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 127.79
Low Date 04/06/2018
High 177.85
High Date 09/07/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 64.51
Low Date 02/03/2016
High 177.85
High Date 09/07/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 145.59
Support 74.95
Low 11.94
Low Date 10/23/2000
High 177.85
High Date 09/07/2018
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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