The Greedy Trader Weekly Analysis
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Weekly Pattern:Broadening Descending Wedge
Number of records: 8
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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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- 5/17/2024 -
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Fidelity National Information Services (FIS) Technical Analysis

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Summary:
Weekly :Relative Strength Index is overboughtWilliams' Percentage Range is strongly overbought
Daily :Williams' Percentage Range and Lane's Stochastic are strongly overbought20 Day Moving Average has crossed above the 50 Day Moving Average
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It was a third positive week after 4 consecutive negative weeks for the Fidelity National Information Services (FIS). During the week, the FIS gained 3.72 points, or 4.98%, and closed at 78.36 on Friday, May 17, 2024. FIS was trading at average weekly trading volume.

Long-term trend: [See FIS long-term trend chart]
A long-term downtrend had started on February 14, 2020 at 158.21 and reached 46.91 on October 27, 2023. FIS lost 111.30 points, or 70.35%, in 193 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 40.07 and resistance is at 146.81. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.

Medium-term trend: [See FIS medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 46.91 and reached 78.56 on May 17, 2024. FIS gained -31.65 points, or -67.47%, in 29 weeks. Price is near the trend high.

Weekly Technical Indicators: [See FIS weekly technical indicators chart]
Weekly Relative Strength Index is overbought while Williams' Percentage Range is 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. 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 Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 10, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See FIS short-term trend chart]
A short-term uptrend had started on May 1, 2024 at 66.72 and reached 78.56 on May 17, 2024. FIS gained -11.84 points, or -17.75%, in 16 days. Price is near the trend high.

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

The daily MACD line is above its signal line since May 6, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term uptrend is strong.

During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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) 79.46
Williams' Percentage Range (W%R) 4.70
Strong Overbought
Lane's Stochastic (%D-Slow) 95.91
Strong Overbought
Greed/Fear Indicator (GFI) 90.21
Strong Overbought
Moving Average Converg./Diverg. (MACD) 1.09
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 80.95
Overbought
Williams' Percentage Range (W%R) 2.80
Strong Overbought
Lane's Stochastic (%D-Slow) 68.72
Greed/Fear Indicator (GFI) 76.90
Moving Average Converg./Diverg. (MACD) 3.36
Trading Signals
Description Value Chart
Upper Bollinger Band 80.22
Price 78.36
Daily Stochastic Crossing 78.32
Weekly Stochastic Crossing 74.85
Parabolic System 74.39
20 Day Moving Average 72.57
50 Day Moving Average 71.78
Lower Bollinger Band 67.13
Sector and Industry
Description Name Rank
Sector Information Technology 4
Industry Data Processing & Outsourced Services 50
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 66.72
Low Date 05/01/2024
High 78.56
High Date 05/17/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 66.72
Low Date 05/01/2024
High 78.56
High Date 05/17/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 66.72
Low Date 05/01/2024
High 78.56
High Date 05/17/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 46.91
Low Date 10/27/2023
High 78.56
High Date 05/17/2024
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 146.81
Support 40.07
High 158.21
High Date 02/14/2020
Low 46.91
Low Date 10/27/2023
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.