The Greedy Trader Weekly Analysis
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Yearly Pattern:Symmetric Triangle
Number of records: 10
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Symmetric Triangle Chart Pattern Analysis - Symmetric Triangle Pattern.

A symmetric triangle pattern represents the area of indecision where the movement direction is questioned. Chart Pattern Analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of a larger trend, but it may also mark the trend reversal. Volume diminishes during the formation and explodes at the breakout. After breakout (similar to rectangle), support may turn into potential resistance and vice versa.
Tips:
# 1 As a continuation pattern, the symmetric triangle usually appears within a young trend characterized by neutral long-term indicators and overbought/oversold short-term indicators. The symmetric triangle resets short-term indicators to neutral and then continues movement in parent's direction.
# 2 As a reversal formation, the symmetric triangle chart 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. For the best results, the symmetric triangle pattern should be considered together with other chart pattern analysis, technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance line.

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- 5/10/2024 -
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Aptiv PLC (APTV) Technical Analysis

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Summary:
Weekly :Oversold sectorStochastic signal line moved above oversold areaWeekly  MACD line has moved above its signal lineBroken trend resistance line
Daily :Williams' Percentage Range and Lane's Stochastic are overbought
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It was a third positive week after 3 consecutive negative weeks for the Aptiv PLC (APTV). During the week, the APTV gained 1.95 points, or 2.41%, and closed at 82.78 on Friday, May 10, 2024. Weekly volume was 8% above average.

APTV is a member of Consumer Discretionary Sector. Consumer Discretionary is the second 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 APTV long-term trend chart]
A long-term downtrend had started on November 4, 2021 at 180.81 and reached 68.84 on April 18, 2024. APTV lost 111.97 points, or 61.93%, in 128 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 99.23 and resistance is at 77.15. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend.

Medium-term trend: [See APTV medium-term trend chart]
A medium-term downtrend had started on January 2, 2024 at 91.66 and reached 68.84 on April 18, 2024. APTV lost 22.82 points, or 24.90%, in 15 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (66.56) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. APTV may retest the broken resistance line. It is considered to be a support line now. 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 medium-term trend.

Weekly Technical Indicators: [See APTV weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly 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.

During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help.

Short-term trend: [See APTV short-term trend chart]
A short-term uptrend had started on April 18, 2024 at 68.84 and reached 85.56 on May 7, 2024. APTV gained -16.72 points, or -24.29%, in 19 days. The price is now at the 16.63% retracement level.

Daily Technical Indicators: [See APTV daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. Use the following link to access Williams' Percentage Range help.

The daily MACD line is above its signal line since April 26, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 75.20
Williams' Percentage Range (W%R) 11.10
Overbought
Lane's Stochastic (%D-Slow) 86.81
Overbought
Greed/Fear Indicator (GFI) 83.63
Overbought
Moving Average Converg./Diverg. (MACD) 0.58
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.99
Williams' Percentage Range (W%R) 34.90
Lane's Stochastic (%D-Slow) 33.81
Greed/Fear Indicator (GFI) 50.46
Moving Average Converg./Diverg. (MACD) -4.33
Trading Signals
Description Value Chart
Yearly Trendline Support 99.23
Upper Bollinger Band 88.81
Daily Stochastic Crossing 83.19
Price 82.78
Weekly Trendline Resistance 79.30
Parabolic System 78.73
Yearly Trendline Resistance 77.15
50 Day Moving Average 76.58
Weekly Stochastic Crossing 75.15
20 Day Moving Average 74.76
Weekly Trendline Support 66.56
Lower Bollinger Band 65.99
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 2
Industry Auto Parts & Equipment 93
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 68.84
Low Date 04/18/2024
High 85.56
High Date 05/07/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 79.30
Support 66.56
High 91.66
High Date 01/02/2024
Low 68.84
Low Date 04/18/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 113.60
High Date 07/12/2023
Low 68.84
Low Date 04/18/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 124.88
High Date 02/15/2023
Low 68.84
Low Date 04/18/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Valid
Resistance 77.15
Support 99.23
High 180.81
High Date 11/04/2021
Low 68.84
Low Date 04/18/2024
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.