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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Charter Communications (CHTR)

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Summary:
Weekly :Williams' Percentage Range and Lane's Stochastic are strongly overboughtBroken trend resistance line
Daily :The Bollinger Bands are historically close together
Move cursor over the icon to see details.

It was a first positive week for the Charter Communications (CHTR). During the week, the CHTR climbed 1.51 points, or 0.32%, and closed at 470.01 on Friday, November 29, 2019. Weekly volume was -43% below average.

Long-term trend: [See CHTR long-term trend chart]
A long-term uptrend had started on April 27, 2018 at 250.10 and reached 484.63 on November 15, 2019. CHTR gained -234.53 points, or -93.77%, in 81 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (320.27) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 CHTR medium-term trend chart]
A medium-term uptrend had started on August 8, 2019 at 370.78 and reached 484.63 on November 15, 2019. CHTR gained -113.85 points, or -30.71%, in 14 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 449.66 and resistance is at 490.73. 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 CHTR weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range and 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since September 6, 2019. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.

Short-term trend: [See CHTR short-term trend chart]
A short-term downtrend had started on November 15, 2019 at 484.63 and reached 463.94 on November 26, 2019. CHTR lost 20.69 points, or 4.27%, in 11 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 461.00 and resistance is at 481.39. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a short-term trend.

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

The daily MACD line is below its signal line since November 14, 2019. This is an indication that the short-term trend is down.

The distance between the Bollinger Bands (3.57%) is close to one year low (3.56%). It is 65.52% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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) 50.28
Williams' Percentage Range (W%R) 51.70
Lane's Stochastic (%D-Slow) 21.56
Greed/Fear Indicator (GFI) 40.04
Moving Average Converg./Diverg. (MACD) 8.16
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 76.36
Williams' Percentage Range (W%R) 9.80
Strong Overbought
Lane's Stochastic (%D-Slow) 90.17
Strong Overbought
Greed/Fear Indicator (GFI) 80.38
Overbought
Moving Average Converg./Diverg. (MACD) 21.77
Trading Signals
Description Value Chart
Monthly Trendline Resistance 490.73
Weekly Trendline Resistance 481.39
Weekly Stochastic Crossing 477.64
Upper Bollinger Band 476.74
Parabolic System 476.22
20 Day Moving Average 473.31
Price 470.01
Daily Stochastic Crossing 468.93
Weekly Trendline Support 461.00
Lower Bollinger Band 459.95
Yearly Trendline Resistance 454.35
Monthly Trendline Support 449.66
50 Day Moving Average 448.43
Sector and Industry
Description Name Rank
Sector Services 5
Industry CATV Systems 92
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 463.94
Low Date 11/26/2019
High 475.87
High Date 11/27/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 481.39
Support 461.00
High 484.63
High Date 11/15/2019
Low 463.94
Low Date 11/26/2019
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 490.73
Support 449.66
Low 370.78
Low Date 08/08/2019
High 484.63
High Date 11/15/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 272.91
Low Date 12/26/2018
High 484.63
High Date 11/15/2019
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 454.35
Support 320.27
Low 250.10
Low Date 04/27/2018
High 484.63
High Date 11/15/2019
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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