The Greedy Trader Weekly Analysis
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Weekly Pattern:Broadening Ascending Wedge
Number of records: 8
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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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Costco Co. (COST)

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Summary:
Weekly :Broken trend resistance lineBroken trend resistance line
Daily :Broken trend support line
Move cursor over the icon to see details.

It was the negative week for the Costco Co. (COST). During the week, the COST dropped -3.34 points, or -1.11%, and closed at 296.56 on Friday, June 26, 2020. Weekly volume was -32% below average.

Long-term trend: [See COST long-term trend chart]
A long-term uptrend had started on May 24, 2000 at 25.94 and reached 325.26 on February 21, 2020. COST gained -299.32 points, or -1153.89%, in 1030 weeks. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The uptrend resistance line (37.51) 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 COST medium-term trend chart]
A medium-term uptrend had started on September 19, 2008 at 30.70 and reached 325.26 on February 21, 2020. COST gained -294.56 points, or -959.48%, in 596 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (191.35) 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 medium-term trend.

Weekly Technical Indicators: [See COST weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since February 21, 2020. Use the following link to access a MACD help.

Short-term trend: [See COST short-term trend chart]
A short-term uptrend had started on February 28, 2020 at 271.28 and reached 324.51 on March 5, 2020. COST gained -53.23 points, or -19.62%, in 6 days. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (317.94) is broken. A broken support is considered to be a long-term bearish signal. 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 support in a short-term trend.

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

The daily MACD line is below its signal line since June 10, 2020. The distance between MACD and the signal line is low and getting smaller.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 32.86
Williams' Percentage Range (W%R) 69.50
Lane's Stochastic (%D-Slow) 40.24
Greed/Fear Indicator (GFI) 34.55
Moving Average Converg./Diverg. (MACD) -1.32
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.16
Williams' Percentage Range (W%R) 46.00
Lane's Stochastic (%D-Slow) 42.39
Greed/Fear Indicator (GFI) 49.59
Moving Average Converg./Diverg. (MACD) 3.65
Trading Signals
Description Value Chart
Weekly Trendline Resistance 319.39
Weekly Trendline Support 317.94
Upper Bollinger Band 310.83
50 Day Moving Average 304.71
Parabolic System 302.98
20 Day Moving Average 302.94
Weekly Stochastic Crossing 301.88
Daily Stochastic Crossing 299.16
Price 296.56
Lower Bollinger Band 292.57
Sector and Industry
Description Name Rank
Sector Consumer Staples 6
Industry Hypermarkets & Super Centers 14
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 324.51
High Date 03/05/2020
Low 276.34
Low Date 03/12/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 319.39
Support 317.94
Low 271.28
Low Date 02/28/2020
High 324.51
High Date 03/05/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 189.51
Low Date 12/26/2018
High 325.26
High Date 02/21/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 226.24
Support 191.35
Low 30.70
Low Date 09/19/2008
High 325.26
High Date 02/21/2020
Description Value
Direction Up
Chart Pattern Broadening Right-Angled, Ascending Wedge
Status Broken Resistance
Resistance 130.39
Support 37.51
Low 25.94
Low Date 05/24/2000
High 325.26
High Date 02/21/2020
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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