The Greedy Trader Weekly Analysis
Sign In Dec 7, 2018
Skip Navigation Links
   Home
   AnalysisExpand    Analysis
   AlertsExpand    Alerts
   Stock PickExpand    Stock Pick
   MembersExpand    Members
   ResourcesExpand    Resources
   About UsExpand    About Us
TA Search
Weekly Pattern:Rectangle
Number of records: 1
Symbol:  

• Symbol Lookup
• Add to Watch List
• Candlestick Patterns
• Stock Technical Indicators
• Stock Trends Analysis
• Market Sector Rank
• Stock Trading Signals
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.
Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :Broken trend resistance line
Daily :Daily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price moved above the moving average in the center of the Bollinger BandsPrice is close to the 50 Day Moving Average
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 6.84 points, or 4.17%, and closed at 170.74 on Friday, November 30, 2018. Weekly volume was 24% above average.

Long-term trend: [See NSC long-term trend chart]
A long-term uptrend had started on October 23, 2000 at 11.94 and reached 186.91 on September 18, 2018. NSC gained -174.97 points, or -1465.41%, in 934 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (75.78) 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 downtrend had started on September 18, 2018 at 186.91 and reached 155.00 on October 23, 2018. NSC lost 31.91 points, or 17.07%, in 5 weeks. The price is now at the 49.33% retracement level.

Weekly Technical Indicators: [See NSC weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since October 12, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high, but getting smaller. It indicates that the current medium-term downtrend 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 November 27, 2018 at 161.17 and reached 171.92 on November 30, 2018. NSC gained -10.75 points, or -6.67%, in 3 days. The price is now at the 10.98% retracement level.

Daily Technical Indicators: [See NSC 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.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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.

Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 50.60
Williams' Percentage Range (W%R) 48.20
Lane's Stochastic (%D-Slow) 44.67
Greed/Fear Indicator (GFI) 49.02
Moving Average Converg./Diverg. (MACD) -1.02
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 46.77
Williams' Percentage Range (W%R) 55.70
Lane's Stochastic (%D-Slow) 39.57
Greed/Fear Indicator (GFI) 44.16
Moving Average Converg./Diverg. (MACD) 6.15
Trading Signals
Description Value Chart
Upper Bollinger Band 174.05
50 Day Moving Average 171.09
Price 170.74
20 Day Moving Average 168.11
Weekly Stochastic Crossing 167.36
Daily Stochastic Crossing 166.65
Lower Bollinger Band 161.46
Parabolic System 161.45
Yearly Trendline Resistance 147.26
Sector and Industry
Description Name Rank
Sector Services 7
Industry Railroads 87
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 161.17
Low Date 11/27/2018
High 171.92
High Date 11/30/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 174.65
High Date 11/16/2018
Low 161.17
Low Date 11/27/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 186.91
High Date 09/18/2018
Low 155.00
Low Date 10/23/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 64.51
Low Date 02/03/2016
High 186.91
High Date 09/18/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 147.26
Support 75.78
Low 11.94
Low Date 10/23/2000
High 186.91
High Date 09/18/2018
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.

Copyright© 2004-2016 All rights reserved.