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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Costco Co. (COST)

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Summary:
Weekly :Williams' Percentage Range is overboughtBroken trend resistance lineBroken trend resistance line
Daily :Broken trend support lineThe price is close to the moving average in the center of the Bollinger BandsThe period of low volatility of the stock pricePrice is close to the 50 Day Moving Average
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It was a first positive week for the Costco Co. (COST). During the week, the COST climbed 0.50 points, or 0.17%, and closed at 299.81 on Friday, November 29, 2019. 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 307.34 on September 9, 2019. COST gained -281.40 points, or -1084.81%, in 1006 weeks. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The uptrend resistance line (37.17) 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 307.34 on September 9, 2019. COST gained -276.64 points, or -901.11%, in 572 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (183.55) 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 Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. 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 Williams' Percentage Range help.

The weekly MACD line is below its signal line since October 25, 2019. The distance between MACD and the signal line is low, but getting bigger. 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 October 3, 2019 at 281.60 and reached 307.10 on November 7, 2019. COST gained -25.50 points, or -9.06%, in 35 days. The chart has formed a Rising Wedge chart pattern. The uptrend support line (307.50) 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 November 19, 2019. The distance between MACD and the signal line is low and getting smaller.

The price is close to the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 3.16% on Friday. It is 63.24% lower than one year average. It indicates the period of low volatility of the stock price. 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.

Price is close to the 50 Day Moving Average. 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) 41.80
Williams' Percentage Range (W%R) 52.60
Lane's Stochastic (%D-Slow) 30.64
Greed/Fear Indicator (GFI) 39.93
Moving Average Converg./Diverg. (MACD) 1.36
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 65.42
Williams' Percentage Range (W%R) 14.60
Overbought
Lane's Stochastic (%D-Slow) 74.21
Greed/Fear Indicator (GFI) 70.27
Moving Average Converg./Diverg. (MACD) 13.47
Trading Signals
Description Value Chart
Monthly Trendline Resistance 331.54
Weekly Trendline Resistance 309.88
Weekly Trendline Support 307.50
Monthly Trendline Support 306.19
Upper Bollinger Band 305.11
Parabolic System 304.72
Weekly Stochastic Crossing 301.45
20 Day Moving Average 301.09
Price 299.81
Daily Stochastic Crossing 299.65
50 Day Moving Average 296.89
Lower Bollinger Band 295.63
Sector and Industry
Description Name Rank
Sector Services 5
Industry Discount Variety Stores 61
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 307.10
High Date 11/07/2019
Low 297.23
Low Date 11/22/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 309.88
Support 307.50
Low 281.60
Low Date 10/03/2019
High 307.10
High Date 11/07/2019
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 331.54
Support 306.19
Low 189.51
Low Date 12/26/2018
High 307.34
High Date 09/09/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 218.44
Support 183.55
Low 30.70
Low Date 09/19/2008
High 307.34
High Date 09/09/2019
Description Value
Direction Up
Chart Pattern Broadening Right-Angled, Ascending Wedge
Status Broken Resistance
Resistance 127.79
Support 37.17
Low 25.94
Low Date 05/24/2000
High 307.34
High Date 09/09/2019
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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