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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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Broadening Ascending Wedge Pattern,Broadening Ascending Wedge,Broadening formation,Broadening Ascending Wedge Chart Pattern,Trend Resistance, chart pattern, chart, pattern, technical analysis, signals, chart analysis, pattern recognition, screening, technical trading,Broadening Right-Angled Ascending Wedge,Broadening Right-Angled Descending Wedge |
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Costco Co. (COST) |
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| Summary:
| | Weekly : | | Daily :
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.
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