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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Charter Communications (CHTR)

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is overboughtStochastic signal line moved below overbought areaPrice is near the Fibonacci 23.6% retracement level
Daily :The price has fallen below the Parabolic SARPrice has crossed below the 50 Day Moving AverageThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Charter Communications (CHTR). During the week, the CHTR dropped -34.40 points, or -6.41%, and closed at 502.27 on Friday, June 26, 2020. It was the worst weekly loss since March 20, 2020. Weekly volume was -43% below average.

CHTR 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 CHTR long-term trend chart]
A long-term uptrend had started on April 27, 2018 at 250.10 and reached 549.00 on June 2, 2020. CHTR gained -298.90 points, or -119.51%, in 109 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 357.60 and resistance is at 600.50. 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 long-term trend.

Medium-term trend: [See CHTR medium-term trend chart]
A medium-term uptrend had started on March 18, 2020 at 345.67 and reached 549.00 on June 2, 2020. CHTR gained -203.33 points, or -58.82%, in 10 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Weekly Technical Indicators: [See CHTR weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 and Williams' Percentage Range help.

The weekly MACD line is above its signal line since May 8, 2020. 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 CHTR short-term trend chart]
A short-term downtrend had started on June 19, 2020 at 540.88 and reached 500.16 on June 25, 2020. CHTR lost 40.72 points, or 7.53%, in 6 days. The price is now at the 5.18% retracement level.

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

The daily MACD line is below its signal line since June 8, 2020. This is an indication that the short-term trend is down.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has declined below 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 crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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) 27.76
Williams' Percentage Range (W%R) 78.80
Lane's Stochastic (%D-Slow) 24.71
Greed/Fear Indicator (GFI) 24.55
Moving Average Converg./Diverg. (MACD) 3.38
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 73.50
Williams' Percentage Range (W%R) 18.90
Overbought
Lane's Stochastic (%D-Slow) 78.07
Greed/Fear Indicator (GFI) 73.03
Moving Average Converg./Diverg. (MACD) 15.29
Trading Signals
Description Value Chart
Yearly Trendline Resistance 600.50
Upper Bollinger Band 546.57
Parabolic System 538.19
Weekly Stochastic Crossing 532.82
20 Day Moving Average 529.18
50 Day Moving Average 517.01
Daily Stochastic Crossing 507.14
Price 502.27
Lower Bollinger Band 498.08
Sector and Industry
Description Name Rank
Sector Communication Services 9
Industry Cable & Satellite 96
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 540.88
High Date 06/19/2020
Low 500.16
Low Date 06/25/2020
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 540.88
High Date 06/19/2020
Low 500.16
Low Date 06/25/2020
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 549.00
High Date 06/02/2020
Low 500.16
Low Date 06/25/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 345.67
Low Date 03/18/2020
High 549.00
High Date 06/02/2020
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 600.50
Support 357.60
Low 250.10
Low Date 04/27/2018
High 549.00
High Date 06/02/2020
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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