The Greedy Trader Weekly Analysis
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Weekly Pattern:Symmetric Triangle
Number of records: 8
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Symmetric Triangle Chart Pattern Analysis - Symmetric Triangle Pattern.

A symmetric triangle pattern represents the area of indecision where the movement direction is questioned. Chart Pattern Analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of a larger trend, but it may also mark the trend reversal. Volume diminishes during the formation and explodes at the breakout. After breakout (similar to rectangle), support may turn into potential resistance and vice versa.
Tips:
# 1 As a continuation pattern, the symmetric triangle usually appears within a young trend characterized by neutral long-term indicators and overbought/oversold short-term indicators. The symmetric triangle resets short-term indicators to neutral and then continues movement in parent's direction.
# 2 As a reversal formation, the symmetric triangle chart 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. For the best results, the symmetric triangle pattern should be considered together with other chart pattern analysis, technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance line.

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- 3/15/2024 -
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Cisco Systems (CSCO) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken trend support line
Daily :The price has fallen below the Parabolic SARThe 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 Cisco Systems (CSCO). During the week, the CSCO dropped -0.57 points, or -1.15%, and closed at 48.93 on Friday, March 15, 2024. Weekly volume was 35% above average.

CSCO is a member of Information Technology Sector. Information Technology is the second 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 CSCO long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 38.60 and reached 58.19 on September 1, 2023. CSCO gained -19.59 points, or -50.75%, in 46 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (57.13) 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 long-term trend.

Medium-term trend: [See CSCO medium-term trend chart]
A medium-term downtrend had started on September 1, 2023 at 58.19 and reached 46.20 on November 16, 2023. CSCO lost 11.99 points, or 20.60%, in 10 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 47.88 and resistance is at 50.73. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a medium-term trend.

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

The weekly MACD line is below its signal line since September 29, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See CSCO short-term trend chart]
A short-term uptrend had started on March 1, 2024 at 47.67 and reached 50.55 on March 12, 2024. CSCO gained -2.88 points, or -6.04%, in 11 days. The price is now at the 56.25% retracement level.

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

The daily MACD line is above its signal line since March 1, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.56
Williams' Percentage Range (W%R) 26.40
Lane's Stochastic (%D-Slow) 70.09
Greed/Fear Indicator (GFI) 66.42
Moving Average Converg./Diverg. (MACD) -0.16
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.53
Williams' Percentage Range (W%R) 50.80
Lane's Stochastic (%D-Slow) 26.66
Greed/Fear Indicator (GFI) 40.85
Moving Average Converg./Diverg. (MACD) -0.48
Trading Signals
Description Value Chart
Quarterly Trendline Support 57.13
Monthly Trendline Resistance 50.73
Upper Bollinger Band 50.68
Parabolic System 50.60
Daily Stochastic Crossing 49.92
50 Day Moving Average 49.92
20 Day Moving Average 48.95
Price 48.93
Weekly Stochastic Crossing 48.86
Lower Bollinger Band 48.06
Monthly Trendline Support 47.88
Sector and Industry
Description Name Rank
Sector Information Technology 8
Industry Communications Equipment 78
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 47.67
Low Date 03/01/2024
High 50.55
High Date 03/12/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 52.62
High Date 01/26/2024
Low 47.67
Low Date 03/01/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Valid
Resistance 50.73
Support 47.88
High 58.19
High Date 09/01/2023
Low 46.20
Low Date 11/16/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 65.18
Support 57.13
Low 38.60
Low Date 10/13/2022
High 58.19
High Date 09/01/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 64.29
High Date 12/29/2021
Low 38.60
Low Date 10/13/2022
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.