The Greedy Trader Weekly Analysis
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Weekly 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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Activision Blizzard (ATVI)

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Summary:
Weekly :Overbought sectorBroken uptrend resistance line - uptrend exhaustionRelative Strength Index and Lane's Stochastic are overboughtWilliams' Percentage Range is strongly overboughtLane's Stochastic and MACD bearish divergence
Daily :Williams' Percentage Range is overboughtStochastic has declined below the signal line
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It was the negative week for the Activision Blizzard (ATVI). During the week, the ATVI gave back -0.18 points, or -0.24%, and closed at 76.40 on Friday, June 26, 2020. Weekly volume was -37% below average.

ATVI is a member of Communication Services Sector. Communication Services 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 ATVI long-term trend chart]
A long-term uptrend had started on February 11, 2019 at 39.85 and reached 77.63 on June 23, 2020. ATVI gained -37.78 points, or -94.81%, in 71 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (53.18) 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 ATVI medium-term trend chart]
A medium-term uptrend had started on March 17, 2020 at 50.51 and reached 77.63 on June 23, 2020. ATVI gained -27.12 points, or -53.69%, in 14 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 74.74 and resistance is at 90.82. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See ATVI weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since April 17, 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 ATVI short-term trend chart]
A short-term uptrend had started on May 27, 2020 at 66.59 and reached 77.63 on June 23, 2020. ATVI gained -11.04 points, or -16.58%, in 27 days. The chart has formed a Rising Wedge chart pattern. The trend support level is at 75.55 and resistance is at 78.78. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a short-term trend.

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

The daily MACD line is above its signal line since June 16, 2020. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 70.56
Williams' Percentage Range (W%R) 10.60
Overbought
Lane's Stochastic (%D-Slow) 79.10
Greed/Fear Indicator (GFI) 79.67
Moving Average Converg./Diverg. (MACD) 1.44
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 82.03
Overbought
Williams' Percentage Range (W%R) 4.00
Strong Overbought
Lane's Stochastic (%D-Slow) 82.02
Overbought Bearish
Greed/Fear Indicator (GFI) 80.23
Overbought
Moving Average Converg./Diverg. (MACD) 3.78 Bearish
Trading Signals
Description Value Chart
Monthly Trendline Resistance 90.82
Upper Bollinger Band 78.83
Weekly Trendline Resistance 78.78
Daily Stochastic Crossing 76.67
Price 76.40
Weekly Trendline Support 75.55
Weekly Stochastic Crossing 75.07
Monthly Trendline Support 74.74
Parabolic System 74.61
20 Day Moving Average 73.49
Quarterly Trendline Resistance 71.28
50 Day Moving Average 71.25
Lower Bollinger Band 69.13
Sector and Industry
Description Name Rank
Sector Communication Services 9
Industry Interactive Home Entertainment 124
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 74.43
Low Date 06/24/2020
High 76.84
High Date 06/26/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 78.78
Support 75.55
Low 66.59
Low Date 05/27/2020
High 77.63
High Date 06/23/2020
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 90.82
Support 74.74
Low 50.51
Low Date 03/17/2020
High 77.63
High Date 06/23/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 71.28
Support 53.18
Low 39.85
Low Date 02/11/2019
High 77.63
High Date 06/23/2020
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 84.68
High Date 10/01/2018
Low 39.85
Low Date 02/11/2019
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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