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Rectangle Chart Pattern - Rectangle Pattern and Chart analysis |
A rectangle chart pattern is characterized
as a short-term horizontal channel, and it represents a trading range and
indecision area that usually resolves in the direction of the main trend. Chart analysis usually considers the rectangle pattern as a continuation formation, but it can also mark
significant top and bottom. The rectangle pattern within a younger parent trend has more
chances to mark a continuation. To estimate the maturity of the parent trend,
consult technical indicators. Volume should increase during breakout, but in
contrast with other continuation patterns, the rectangle does not inherit standard
volume behavior. After breakout, the rectangle pattern resistance may turn into potential support and
vice versa.
Tips:
# 1 As a continuation pattern, the rectangle pattern usually appears within a young
trend characterized by neutral long-term indicators and overbought/oversold
daily indicators. The pattern resets short-term indicators to neutral and then
continues movement in the parent's direction.
# 2 As a reversal formation, the pattern appears in a mature trend
characterized by overbought/oversold indicators on long and short time frames.
This situation usually generates divergence on weekly indicators.
# 3 For the best results, the rectangle chart pattern should be considered together with other technical analysis signals, chart analysis, and technical trading techniques.
Estimated target: the higher level parent's support/resistance line.
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Advanced TA SearchArchive - 4/26/2024 - Sign In to see current Signals. |
Kimco Realty Corp. (KIM) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was a second consecutive positive week for the Kimco Realty Corp. (KIM). During the week, the KIM climbed 0.18 points, or 0.99%, and closed at 18.38 on Friday, April 26, 2024. Weekly volume was -21% below average. Long-term trend: [See KIM long-term trend chart] A long-term downtrend had started on April 28, 2022 at 26.57 and reached 16.34 on October 25, 2023. KIM lost 10.23 points, or 38.50%, in 77 weeks. The price is now at the 19.94% retracement level. Medium-term trend: [See KIM medium-term trend chart] A medium-term downtrend had started on December 14, 2023 at 22.84 and reached 17.57 on April 16, 2024. KIM lost 5.27 points, or 23.07%, in 17 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (17.87) 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. KIM 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 KIM weekly technical indicators chart] Weekly Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range and Lane's Stochastic. 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 Lane's Stochastic and Williams' Percentage Range help. The weekly MACD line is below its signal line since February 16, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help. Short-term trend: [See KIM short-term trend chart] A short-term uptrend had started on April 16, 2024 at 17.57 and reached 18.76 on April 23, 2024. KIM gained -1.19 points, or -6.77%, in 7 days. The price is now at the 31.93% retracement level. Daily Technical Indicators: [See KIM daily technical indicators chart] Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
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