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Yearly Pattern:Broadening Ascending Wedge
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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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- 11/1/2019 -
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Arthur J. Gallagher & Co. (AJG)

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Summary:
Weekly :Overbought sectorBroken uptrend resistance line - uptrend exhaustionBroken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is overbought
Daily :Williams' Percentage Range is strongly overboughtThe price has fallen below the Parabolic SAR20 Day Moving Average has crossed above the 50 Day Moving Average
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It was a first positive week for the Arthur J. Gallagher & Co. (AJG). During the week, the AJG gained 2.07 points, or 2.31%, and closed at 91.52 on Friday, November 1, 2019. It was the best weekly gain since August 30, 2019. Weekly volume was 1538% above average.

AJG is a member of Financial Sector. Financial is the second 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 AJG long-term trend chart]
A long-term uptrend had started on March 4, 2009 at 14.82 and reached 92.74 on July 26, 2019. AJG gained -77.92 points, or -525.78%, in 542 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (47.85) 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 AJG medium-term trend chart]
A medium-term uptrend had started on January 20, 2016 at 35.96 and reached 92.74 on July 26, 2019. AJG gained -56.78 points, or -157.90%, in 183 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (84.75) 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 medium-term trend.

Weekly Technical Indicators: [See AJG weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with 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 link to access Williams' Percentage Range help.

The weekly MACD line is below its signal line since August 16, 2019. Use the following link to access a MACD help.

Short-term trend: [See AJG short-term trend chart]
A short-term uptrend had started on October 2, 2019 at 85.34 and reached 92.00 on October 25, 2019. AJG gained -6.66 points, or -7.80%, in 23 days. The chart has formed a Rising Channel chart pattern. The trend support level is at 89.63 and resistance is at 93.03. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a short-term trend.

Daily Technical Indicators: [See AJG daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range.

The daily MACD line is above its signal line since October 14, 2019. This is an indication that the short-term trend is up.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.

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) 70.18
Williams' Percentage Range (W%R) 4.20
Strong Overbought
Lane's Stochastic (%D-Slow) 66.10
Greed/Fear Indicator (GFI) 77.36
Moving Average Converg./Diverg. (MACD) 0.40
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 47.78
Williams' Percentage Range (W%R) 11.80
Overbought
Lane's Stochastic (%D-Slow) 58.35
Greed/Fear Indicator (GFI) 65.96
Moving Average Converg./Diverg. (MACD) 2.24
Trading Signals
Description Value Chart
Weekly Trendline Resistance 93.03
Upper Bollinger Band 92.48
Parabolic System 91.97
Price 91.52
Daily Stochastic Crossing 91.07
Weekly Trendline Support 89.63
Weekly Stochastic Crossing 89.56
20 Day Moving Average 89.34
Quarterly Trendline Resistance 89.23
50 Day Moving Average 88.99
Lower Bollinger Band 87.06
Quarterly Trendline Support 84.75
Sector and Industry
Description Name Rank
Sector Financial 8
Industry Insurance Brokers 90
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 88.92
Low Date 10/28/2019
High 91.81
High Date 10/31/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 93.03
Support 89.63
Low 85.34
Low Date 10/02/2019
High 92.00
High Date 10/25/2019
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 92.74
High Date 07/26/2019
Low 85.34
Low Date 10/02/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 89.23
Support 84.75
Low 35.96
Low Date 01/20/2016
High 92.74
High Date 07/26/2019
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 71.89
Support 47.85
Low 14.82
Low Date 03/04/2009
High 92.74
High Date 07/26/2019
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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