The Greedy Trader Weekly Analysis
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Quarterly Pattern:Ascending Triangle
Number of records: 6
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Chart Analysis and Chart Pattern Recognition – Ascending Triangle Pattern
The ascending triangle pattern is a variation of symmetrical triangle formation that has a flat resistance line and a rising support line. The higher lows indicate the increasing demand and give the ascending triangle definitive bullish bias. The ascending triangle usually represents an accumulation stage in bullish market. The ascending triangle is considered as a continuation pattern, especially in an uptrend, but it may also mark a reversal in a downtrend. Volume usually increases on a breakout move. After breakout (similar to rectangle), resistance may turn into potential support and vice versa.
Ascending Triangle Screening page presents a list of stocks forming an Ascending Triangle Pattern.
Tips:
# 1As a continuation pattern, an ascending triangle usually appears within a young trend, characterized by neutral long-term indicators and overbought short-term indicators. An ascending triangle resets short-term indicators to neutral and then continues the movement in parent's direction.
# 2 As a reversal formation, an ascending triangle appears in a mature downtrend, characterized by oversold short-term and long-term indicators. This situation usually generates bullish 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 line.

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- 5/10/2024 -
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Fortinet (FTNT) Technical Analysis
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Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 32.01
Williams' Percentage Range (W%R) 95.60
Strong Oversold
Lane's Stochastic (%D-Slow) 10.42
Oversold
Greed/Fear Indicator (GFI) 15.61
Oversold
Moving Average Converg./Diverg. (MACD) -1.75
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 37.69
Williams' Percentage Range (W%R) 86.50
Oversold
Lane's Stochastic (%D-Slow) 23.50
Greed/Fear Indicator (GFI) 25.58
Moving Average Converg./Diverg. (MACD) 1.66
Trading Signals
Description Value Chart
Upper Bollinger Band 67.63
50 Day Moving Average 66.51
20 Day Moving Average 62.63
Parabolic System 61.62
Weekly Stochastic Crossing 60.37
Daily Stochastic Crossing 58.71
Price 58.16
Lower Bollinger Band 57.37
Sector and Industry
Description Name Rank
Sector Information Technology 4
Industry Systems Software 14
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 65.26
High Date 05/02/2024
Low 57.84
Low Date 05/08/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 65.26
High Date 05/02/2024
Low 57.84
Low Date 05/08/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 65.80
High Date 04/24/2024
Low 57.84
Low Date 05/08/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 73.91
High Date 02/07/2024
Low 57.84
Low Date 05/08/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 44.15
Low Date 11/03/2023
High 73.91
High Date 02/07/2024
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.
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