The Greedy Trader Weekly Analysis
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Monthly 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.
Symmetric Triangle Pattern,Symmetric Triangle Chart Pattern,Chart Pattern Analysis,chart pattern, charts, pattern, chart analysis, pattern recognition, screener, screening, Trading Signals

Apple Computer (AAPL)

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Summary:
Weekly :Overbought sectorRelative Strength Index and Lane's Stochastic are overboughtWilliams' Percentage Range is strongly overboughtLane's Stochastic and MACD bearish divergenceBroken trend resistance line
Daily :Daily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price is above the upper Bollinger Band
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It was a first positive week for the Apple Computer (AAPL). During the week, the AAPL gained 54.58 points, or 14.73%, and closed at 425.04 on Friday, July 31, 2020. Weekly volume was -13% below average.

AAPL is a member of Information Technology Sector. Information Technology 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 AAPL long-term trend chart]
A long-term uptrend had started on January 3, 2019 at 142.00 and reached 425.66 on July 31, 2020. AAPL gained -283.66 points, or -199.76%, in 82 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (234.30) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 AAPL medium-term trend chart]
A medium-term uptrend had started on March 23, 2020 at 212.61 and reached 425.66 on July 31, 2020. AAPL gained -213.05 points, or -100.21%, in 18 weeks. Price is near the trend high.

Weekly Technical Indicators: [See AAPL weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are 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 and Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since May 15, 2020. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See AAPL short-term trend chart]
A short-term uptrend had started on July 24, 2020 at 356.58 and reached 425.66 on July 31, 2020. AAPL gained -69.08 points, or -19.37%, in 7 days. Price is near the trend high.

Daily Technical Indicators: [See AAPL daily technical indicators chart]
Daily technical indicators are neutral.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

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.

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 68.77
Williams' Percentage Range (W%R) 20.40
Lane's Stochastic (%D-Slow) 64.77
Greed/Fear Indicator (GFI) 71.03
Moving Average Converg./Diverg. (MACD) 9.10
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 89.79
Overbought
Williams' Percentage Range (W%R) 6.60
Strong Overbought
Lane's Stochastic (%D-Slow) 86.70
Overbought Bearish
Greed/Fear Indicator (GFI) 83.27
Overbought
Moving Average Converg./Diverg. (MACD) 22.73 Bearish
Trading Signals
Description Value Chart
Price 425.04
Weekly Stochastic Crossing 411.60
Quarterly Trendline Resistance 404.47
Upper Bollinger Band 403.72
Daily Stochastic Crossing 402.83
20 Day Moving Average 384.08
50 Day Moving Average 358.49
Lower Bollinger Band 357.84
Parabolic System 356.22
Sector and Industry
Description Name Rank
Sector Information Technology 11
Industry Technology Hardware, Storage & Peripherals 25
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 372.99
Low Date 07/28/2020
High 425.66
High Date 07/31/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 356.58
Low Date 07/24/2020
High 425.66
High Date 07/31/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 212.61
Low Date 03/23/2020
High 425.66
High Date 07/31/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 404.47
Support 234.30
Low 142.00
Low Date 01/03/2019
High 425.66
High Date 07/31/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 89.47
Low Date 05/12/2016
High 425.66
High Date 07/31/2020
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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