The Greedy Trader Weekly Analysis
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Weekly Pattern:Descending Triangle
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Chart Analysis and Chart Pattern Recognition – Descending Triangle Pattern

The descending triangle is a variation of a symmetrical triangle formation that has a flat support line and a falling resistance line. The lower highs indicate the decreasing demand and give the descending triangle definitive bearish bias. The descending triangle usually represents a distribution stage in bearish market. The descending triangle is considered as a continuation pattern, especially in a downtrend, but it may also mark a reversal in an uptrend. Volume usually increases on trend support resistance breakout. After breakout (similar to rectangle), support may turn into potential resistance and vice versa.
Descending Triangle Screening page presents a list of stocks forming Descending Triangle Pattern.
Tips:
# 1 As a continuation pattern, descending triangle usually appears within a young trend, characterized by neutral long-term indicators and oversold short-term indicators. Descending triangle resets short-term indicators to neutral and then continues the movement in parent's direction.
# 2 As a reversal formation, descending triangle appears in a mature uptrend, characterized by overbought long-term and short-term indicators. This situation usually generates bearish divergence on long-term indicators.
# 3 For the best results, chart patterns should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance level. line.

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- 3/15/2024 -
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Sempra Energy (SRE) Technical Analysis

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Summary:
Weekly :Oversold sector
Daily :The price has fallen below the Parabolic SARWilliams' Percentage Range is oversoldThe price has declined below the moving average in the center of the Bollinger BandsThe Bollinger Bands are historically close together
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It was the negative week for the Sempra Energy (SRE). During the week, the SRE dropped -1.06 points, or -1.49%, and closed at 70.01 on Friday, March 15, 2024. Weekly volume was 57% above average.

SRE is a member of Utilities Sector. Utilities is the most oversold 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 SRE long-term trend chart]
A long-term downtrend had started on September 12, 2022 at 176.47 and reached 63.75 on October 3, 2023. SRE lost 112.72 points, or 63.87%, in 55 weeks. The price is now at the 5.55% retracement level.

Medium-term trend: [See SRE medium-term trend chart]
A medium-term downtrend had started on December 14, 2023 at 77.79 and reached 68.41 on February 13, 2024. SRE lost 9.38 points, or 12.06%, in 8 weeks. The price is now at the 17.06% retracement level.

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

The weekly MACD line is above its signal line since November 17, 2023. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.

Short-term trend: [See SRE short-term trend chart]
A short-term downtrend had started on March 11, 2024 at 72.57 and reached 69.51 on March 15, 2024. SRE lost 3.06 points, or 4.22%, in 4 days. The price is now at the 16.34% retracement level.

Daily Technical Indicators: [See SRE daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. 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 Williams' Percentage Range help.

The daily MACD line is above its signal line since February 15, 2024. The distance between MACD and the signal line is low and getting smaller.

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.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (3.71%) is close to one year low (3.83%). It is 81.12% 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) 44.16
Williams' Percentage Range (W%R) 80.20
Oversold
Lane's Stochastic (%D-Slow) 46.65
Greed/Fear Indicator (GFI) 36.87
Moving Average Converg./Diverg. (MACD) -0.22
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 44.45
Williams' Percentage Range (W%R) 77.60
Lane's Stochastic (%D-Slow) 25.40
Greed/Fear Indicator (GFI) 30.37
Moving Average Converg./Diverg. (MACD) -10.53
Trading Signals
Description Value Chart
Parabolic System 72.52
Upper Bollinger Band 72.14
50 Day Moving Average 71.73
20 Day Moving Average 70.87
Daily Stochastic Crossing 70.53
Price 70.01
Weekly Stochastic Crossing 69.82
Lower Bollinger Band 69.52
Sector and Industry
Description Name Rank
Sector Utilities 1
Industry Electric Utilities 24
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 72.57
High Date 03/11/2024
Low 69.51
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 72.57
High Date 03/11/2024
Low 69.51
Low Date 03/15/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 72.57
High Date 03/11/2024
Low 69.51
Low Date 03/15/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 77.79
High Date 12/14/2023
Low 68.41
Low Date 02/13/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 176.47
High Date 09/12/2022
Low 63.75
Low Date 10/03/2023
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.