The Greedy Trader Weekly Analysis
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Monthly Pattern:Broadening Ascending Wedge
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Chart Analysis and Chart Pattern Recognition – Broadening Formations

Broadening Formations, including Broadening Ascending Wedge, present inverted triangle patterns. They start with narrow fluctuations, and then widen out between diverging boundary lines. The pattern, where one of the boundary lines is horizontal, is referred to as a right-angled formation. Broadening formations usually mark the reversal when confirmed by other technical indicators.
Broadening formations Screening page presents a list of stocks forming Broadening formation Pattern.
Tips:
# 1
As a reversal formation, Broadening formation 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.
# 2 For the best results, chart patterns and trend resistance support should be considered together with other technical analysis signals and technical trading techniques.

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- 10/18/2024 -
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Crown Castle Intl Corp (CCI) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken trend support lineBroken trend resistance line
Daily :Stochastic signal line moved above oversold areaThe price has risen above the Parabolic SAR
Move cursor over the icon to see details.

It was a first positive week for the Crown Castle Intl Corp (CCI). During the week, the CCI gained 1.57 points, or 1.42%, and closed at 112.38 on Friday, October 18, 2024. Weekly volume was -14% below average.

CCI is a member of Real Estate Sector. Real Estate is the 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 CCI long-term trend chart]
A long-term downtrend had started on December 31, 2021 at 209.87 and reached 84.72 on October 23, 2023. CCI lost 125.15 points, or 59.63%, in 94 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (100.56) is broken. A broken support is considered to be a long-term bullish signal. 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 CCI medium-term trend chart]
A medium-term uptrend had started on June 20, 2024 at 94.47 and reached 120.92 on September 16, 2024. CCI gained -26.45 points, or -28.00%, in 12 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (124.54) is broken. A broken support is considered to be a long-term bearish signal. 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 support in a medium-term trend.

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

The weekly MACD line is above its signal line since July 5, 2024. 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 CCI short-term trend chart]
A short-term downtrend had started on September 16, 2024 at 120.92 and reached 109.67 on October 10, 2024. CCI lost 11.25 points, or 9.30%, in 24 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 108.89 and resistance is at 117.10. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.

Daily Technical Indicators: [See CCI daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish 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 daily MACD line is below its signal line since September 18, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 35.63
Williams' Percentage Range (W%R) 77.30
Lane's Stochastic (%D-Slow) 55.01
Greed/Fear Indicator (GFI) 37.76
Moving Average Converg./Diverg. (MACD) -0.46
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 61.34
Williams' Percentage Range (W%R) 34.10
Lane's Stochastic (%D-Slow) 54.84
Greed/Fear Indicator (GFI) 58.45
Moving Average Converg./Diverg. (MACD) 2.49
Trading Signals
Description Value Chart
Monthly Trendline Resistance 125.20
Monthly Trendline Support 124.54
Upper Bollinger Band 119.16
Weekly Trendline Resistance 117.10
Weekly Stochastic Crossing 115.09
20 Day Moving Average 114.17
50 Day Moving Average 113.99
Daily Stochastic Crossing 113.58
Price 112.38
Parabolic System 110.29
Weekly Trendline Support 108.89
Lower Bollinger Band 108.19
Yearly Trendline Support 100.56
Sector and Industry
Description Name Rank
Sector Real Estate 9
Industry Specialized REITs 75
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 109.67
Low Date 10/10/2024
High 115.89
High Date 10/16/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 117.10
Support 108.89
High 120.92
High Date 09/16/2024
Low 109.67
Low Date 10/10/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 125.20
Support 124.54
Low 94.47
Low Date 06/20/2024
High 120.92
High Date 09/16/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 92.48
Low Date 04/18/2024
High 120.92
High Date 09/16/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 78.61
Support 100.56
High 209.87
High Date 12/31/2021
Low 84.72
Low Date 10/23/2023
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.