The Greedy Trader Weekly Analysis
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Monthly Pattern:Rising Wedge
Number of records: 10
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Chart Analysis and Chart Pattern Recognition – Rising Wedge Pattern.
A rising wage pattern is a triangle formation with noticeable slant to the upside. It represents the loss of the upside momentum on each successive high and has a bearish bias. Rising wedges pattern usually marks a reversal in an uptrend. In a downtrend, the rising wedge is considered as a continuation pattern. As with other triangle formations, volume usually diminishes as price rise and then increases during the breakout.
Rising Wedge Screening page presents a list of stocks forming Rising Wedge Pattern.
Tips:
# 1
The rising wedge appears in a mature trend characterized by overbought long-term and short-term indicators. This situation usually generates divergence on long-term indicators.
# 2 For the best results, this chart pattern should be considered together with other technical analysis signals and technical trading techniques.
Rising Wedge Pattern,Rising Wedge,Rising Wedge Chart Pattern,Stock Charting, chart pattern, charts, pattern, technical analysis, signals, chart analysis, pattern recognition, screening, technical trading

Ametek (AME)

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is strongly overboughtWeekly  MACD line has moved above its signal lineTrend resistance at 98.15
Daily :Williams' Percentage Range is overboughtRelative Strength Index and Lane's Stochastic are strongly overboughtStochastic has declined below the signal line
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It was a third positive week after 3 consecutive negative weeks for the Ametek (AME). During the week, the AME gained 2.34 points, or 2.48%, and closed at 96.54 on Friday, November 8, 2019. Weekly volume was -38% below average.

AME is a member of Industrial Goods Sector. Industrial Goods 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 AME long-term trend chart]
A long-term uptrend had started on February 5, 2016 at 42.82 and reached 97.30 on November 7, 2019. AME gained -54.48 points, or -127.23%, in 195 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (98.15). 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 AME medium-term trend chart]
A medium-term uptrend had started on August 26, 2019 at 82.66 and reached 97.30 on November 7, 2019. AME gained -14.64 points, or -17.71%, in 10 weeks. The price is now at the 5.19% retracement level.

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

During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help.

Short-term trend: [See AME short-term trend chart]
A short-term uptrend had started on October 2, 2019 at 85.18 and reached 97.30 on November 7, 2019. AME gained -12.12 points, or -14.23%, in 36 days. The chart has formed a Rising Channel chart pattern.

Daily Technical Indicators: [See AME daily technical indicators chart]
Daily Williams' Percentage Range is overbought while Relative Strength Index and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range or strongly overbought daily Relative Strength Index and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Use the following links to access Lane's Stochastic and Relative Strength Index help.

The daily MACD line is above its signal line since October 22, 2019. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 94.73
Strong Overbought
Williams' Percentage Range (W%R) 15.10
Overbought
Lane's Stochastic (%D-Slow) 91.66
Strong Overbought
Greed/Fear Indicator (GFI) 90.44
Strong Overbought
Moving Average Converg./Diverg. (MACD) 1.38
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 70.81
Williams' Percentage Range (W%R) 9.90
Strong Overbought
Lane's Stochastic (%D-Slow) 69.38
Greed/Fear Indicator (GFI) 73.72
Moving Average Converg./Diverg. (MACD) 1.97
Trading Signals
Description Value Chart
Upper Bollinger Band 98.59
Quarterly Trendline Resistance 98.15
Daily Stochastic Crossing 96.63
Price 96.54
Parabolic System 94.87
Weekly Stochastic Crossing 94.26
20 Day Moving Average 91.38
50 Day Moving Average 89.80
Lower Bollinger Band 86.03
Sector and Industry
Description Name Rank
Sector Industrial Goods 9
Industry Industrial Electrical Eqp 137
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Low 85.18
Low Date 10/02/2019
High 97.30
High Date 11/07/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 82.66
Low Date 08/26/2019
High 97.30
High Date 11/07/2019
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 63.14
Low Date 12/26/2018
High 97.30
High Date 11/07/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Test Resistance
Resistance 98.15
Support 69.40
Low 42.82
Low Date 02/05/2016
High 97.30
High Date 11/07/2019
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 2.30
Low Date 03/14/2000
High 97.30
High Date 11/07/2019
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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