The Greedy Trader Weekly Analysis
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Monthly Pattern:Symmetric Triangle
Number of records: 5
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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 industryBroken uptrend resistance line - uptrend exhaustionRelative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overbought
Daily :Broken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range and Lane's Stochastic are strongly overbought
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It was a seventh consecutive positive week for the Apple Computer (AAPL). During the week, the AAPL gained 4.32 points, or 1.69%, and closed at 260.14 on Friday, November 8, 2019. Weekly volume was -52% below average.

AAPL is a member of Personal Computers Industry. Personal Computers is the fifth most overbought industry. 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 260.44 on November 8, 2019. AAPL gained -118.44 points, or -83.41%, in 44 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (211.96) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 June 3, 2019 at 170.27 and reached 260.44 on November 8, 2019. AAPL gained -90.17 points, or -52.96%, in 22 weeks. Price is near the trend high.

Weekly Technical Indicators: [See AAPL weekly technical indicators chart]
Weekly Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are 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 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, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since June 7, 2019. 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 August 5, 2019 at 192.58 and reached 260.44 on November 8, 2019. AAPL gained -67.86 points, or -35.24%, in 95 days. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (228.63) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 short-term trend.

Daily Technical Indicators: [See AAPL 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.

The daily MACD line is above its signal line since October 4, 2019. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 79.70
Williams' Percentage Range (W%R) 6.40
Strong Overbought
Lane's Stochastic (%D-Slow) 96.68
Strong Overbought
Greed/Fear Indicator (GFI) 89.99
Overbought
Moving Average Converg./Diverg. (MACD) 7.72
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 89.00
Overbought
Williams' Percentage Range (W%R) 2.60
Strong Overbought
Lane's Stochastic (%D-Slow) 95.24
Strong Overbought
Greed/Fear Indicator (GFI) 87.39
Overbought
Moving Average Converg./Diverg. (MACD) 9.62
Trading Signals
Description Value Chart
Upper Bollinger Band 263.99
Price 260.14
Daily Stochastic Crossing 259.58
Weekly Stochastic Crossing 258.56
Parabolic System 251.09
20 Day Moving Average 246.13
Weekly Trendline Resistance 243.11
50 Day Moving Average 230.55
Lower Bollinger Band 229.00
Weekly Trendline Support 228.63
Quarterly Trendline Resistance 228.20
Quarterly Trendline Support 211.96
Sector and Industry
Description Name Rank
Sector Technology 6
Industry Personal Computers 159
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 215.13
Low Date 10/03/2019
High 260.44
High Date 11/08/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 243.11
Support 228.63
Low 192.58
Low Date 08/05/2019
High 260.44
High Date 11/08/2019
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 170.27
Low Date 06/03/2019
High 260.44
High Date 11/08/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 228.20
Support 211.96
Low 142.00
Low Date 01/03/2019
High 260.44
High Date 11/08/2019
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 89.47
Low Date 05/12/2016
High 260.44
High Date 11/08/2019
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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