The Greedy Trader Weekly Analysis
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Weekly Pattern:Broadening Ascending Wedge
Number of records: 10
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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 :Lane's Stochastic is overbought
Daily :Price is near the Fibonacci 38.2% retracement levelThe price moved above the moving average in the center of the Bollinger Bands
Move cursor over the icon to see details.

It was a first positive week for the Applied Materials (AMAT). During the week, the AMAT gained 1.96 points, or 3.50%, and closed at 57.90 on Friday, November 29, 2019. Weekly volume was -38% below average.

Long-term trend: [See AMAT long-term trend chart]
A long-term downtrend had started on March 12, 2018 at 62.40 and reached 55.44 on November 22, 2019. AMAT lost 6.96 points, or 11.15%, in 88 weeks. The price is now at the 35.34% retracement level.

Medium-term trend: [See AMAT medium-term trend chart]
A medium-term downtrend had started on November 18, 2019 at 63.07 and reached 55.44 on November 22, 2019. AMAT lost 7.63 points, or 12.10%, in 0 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 58.72 and resistance is at 55.63. 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 larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle 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. 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 December 28, 2018. 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 November 26, 2019 at 57.08 and reached 58.39 on November 27, 2019. AMAT gained -1.31 points, or -2.30%, in 1 days. Price is near the Fibonacci 38.2% 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.

The daily MACD line is below its signal line since November 21, 2019.

During the last week, the price has moved above 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) 55.33
Williams' Percentage Range (W%R) 57.50
Lane's Stochastic (%D-Slow) 28.26
Greed/Fear Indicator (GFI) 42.03
Moving Average Converg./Diverg. (MACD) 1.43
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 71.65
Williams' Percentage Range (W%R) 26.60
Lane's Stochastic (%D-Slow) 80.98
Overbought
Greed/Fear Indicator (GFI) 70.51
Moving Average Converg./Diverg. (MACD) 3.04
Trading Signals
Description Value Chart
Upper Bollinger Band 61.35
Parabolic System 61.21
Weekly Stochastic Crossing 60.19
Quarterly Trendline Support 58.72
Price 57.90
Daily Stochastic Crossing 57.88
20 Day Moving Average 57.57
Quarterly Trendline Resistance 55.63
50 Day Moving Average 54.21
Lower Bollinger Band 53.08
Sector and Industry
Description Name Rank
Sector Technology 4
Industry Semiconductor Equip/Matrl 113
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 57.08
Low Date 11/26/2019
High 58.39
High Date 11/27/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 57.08
Low Date 11/26/2019
High 58.39
High Date 11/27/2019
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 57.08
Low Date 11/26/2019
High 58.39
High Date 11/27/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Valid
Resistance 55.63
Support 58.72
High 63.07
High Date 11/18/2019
Low 55.44
Low Date 11/22/2019
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 62.40
High Date 03/12/2018
Low 55.44
Low Date 11/22/2019
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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