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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Activision Blizzard (ATVI)

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Summary:
Weekly :
Daily :Lane's Stochastic is overboughtDaily  MACD line has moved above its signal linePrice has crossed above the 50 Day Moving AverageThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week after 3 consecutive negative weeks for the Activision Blizzard (ATVI). During the week, the ATVI gained 1.79 points, or 3.37%, and closed at 54.83 on Friday, November 29, 2019. Weekly volume was -69% below average.

Long-term trend: [See ATVI long-term trend chart]
A long-term downtrend had started on October 1, 2018 at 84.68 and reached 39.85 on February 11, 2019. ATVI lost 44.83 points, or 52.94%, in 19 weeks. The price is now at the 33.42% retracement level.

Medium-term trend: [See ATVI medium-term trend chart]
A medium-term uptrend had started on February 11, 2019 at 39.85 and reached 57.52 on September 12, 2019. ATVI gained -17.67 points, or -44.34%, in 30 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 45.46 and resistance is at 62.12. 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 technical indicators are neutral.

The weekly MACD line is above its signal line since March 15, 2019. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See ATVI short-term trend chart]
A short-term downtrend had started on November 1, 2019 at 57.43 and reached 51.46 on November 13, 2019. ATVI lost 5.97 points, or 10.40%, in 12 days. The price is now at the 56.45% retracement level.

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

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

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.

During the last week, the price 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) 53.03
Williams' Percentage Range (W%R) 55.30
Lane's Stochastic (%D-Slow) 83.38
Overbought
Greed/Fear Indicator (GFI) 60.38
Moving Average Converg./Diverg. (MACD) -0.22
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.97
Williams' Percentage Range (W%R) 26.70
Lane's Stochastic (%D-Slow) 55.67
Greed/Fear Indicator (GFI) 59.78
Moving Average Converg./Diverg. (MACD) 1.34
Trading Signals
Description Value Chart
Monthly Trendline Resistance 62.12
Upper Bollinger Band 56.45
Daily Stochastic Crossing 54.86
Price 54.83
Weekly Stochastic Crossing 54.52
50 Day Moving Average 54.30
20 Day Moving Average 53.96
Parabolic System 52.45
Lower Bollinger Band 51.56
Monthly Trendline Support 45.46
Sector and Industry
Description Name Rank
Sector Technology 4
Industry Multimedia/Graphics Sftwr 75
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 57.43
High Date 11/01/2019
Low 51.46
Low Date 11/13/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 57.52
High Date 09/12/2019
Low 50.25
Low Date 10/02/2019
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 62.12
Support 45.46
Low 39.85
Low Date 02/11/2019
High 57.52
High Date 09/12/2019
Quarterly Trend
Yearly Trend
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
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 8.14
Low Date 01/06/2009
High 84.68
High Date 10/01/2018
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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