The Greedy Trader Weekly Analysis
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Weekly Pattern:Broadening Ascending Wedge
Number of records: 8
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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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Applied Materials (AMAT)

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Summary:
Weekly :Overbought sectorLane's Stochastic is overboughtStochastic has declined below the signal lineTrend resistance at 42.99
Daily :Daily  MACD line has moved below its signal lineA Parabolic SAR indicator is above and near the pricePrice is near the Fibonacci 23.6% retracement levelThe price has declined below the moving average in the center of the Bollinger Bands
Move cursor over the icon to see details.

It was the negative week for the Applied Materials (AMAT). During the week, the AMAT dropped -2.57 points, or -4.22%, and closed at 58.38 on Friday, June 26, 2020. Weekly volume was -37% below average.

AMAT 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 AMAT long-term trend chart]
A long-term downtrend had started on February 13, 2020 at 69.44 and reached 36.64 on March 18, 2020. AMAT lost 32.80 points, or 47.24%, in 4 weeks. The chart has formed a Symmetric Triangle chart pattern. The price is near the trend resistance line (42.99). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.

Medium-term trend: [See AMAT medium-term trend chart]
A medium-term uptrend had started on March 18, 2020 at 36.64 and reached 62.32 on June 19, 2020. AMAT gained -25.68 points, or -70.09%, in 13 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 56.28 and resistance is at 65.80. 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 medium-term trend.

Weekly Technical Indicators: [See AMAT weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish 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 link to access Lane's Stochastic help.

The weekly MACD line is above its signal line since May 22, 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 AMAT short-term trend chart]
A short-term uptrend had started on May 4, 2020 at 46.22 and reached 62.32 on June 19, 2020. AMAT gained -16.10 points, or -34.83%, in 46 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

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

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

A Parabolic SAR (stop and reversal) indicator (58.1) comes close to the price (58.38). It indicates that the trend is getting weaker. 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 price has declined below the moving average in the center of the Bollinger Bands. 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) 44.33
Williams' Percentage Range (W%R) 35.30
Lane's Stochastic (%D-Slow) 63.66
Greed/Fear Indicator (GFI) 57.58
Moving Average Converg./Diverg. (MACD) 1.61
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 68.70
Williams' Percentage Range (W%R) 30.10
Lane's Stochastic (%D-Slow) 86.16
Overbought
Greed/Fear Indicator (GFI) 71.50
Moving Average Converg./Diverg. (MACD) 0.03
Trading Signals
Description Value Chart
Weekly Trendline Resistance 65.80
Upper Bollinger Band 62.11
Daily Stochastic Crossing 60.51
Weekly Stochastic Crossing 60.16
20 Day Moving Average 58.82
Price 58.38
Parabolic System 58.10
Monthly Trendline Support 57.60
Weekly Trendline Support 56.28
50 Day Moving Average 55.01
Lower Bollinger Band 54.80
Sector and Industry
Description Name Rank
Sector Information Technology 12
Industry Semiconductor Equipment 122
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 46.22
Low Date 05/04/2020
High 62.32
High Date 06/19/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 65.80
Support 56.28
Low 36.64
Low Date 03/18/2020
High 62.32
High Date 06/19/2020
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Test Resistance
Resistance 42.99
Support 57.60
High 69.44
High Date 02/13/2020
Low 36.64
Low Date 03/18/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 28.79
Low Date 12/26/2018
High 69.44
High Date 02/13/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 7.80
Low Date 11/21/2008
High 69.44
High Date 02/13/2020
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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