The Greedy Trader Weekly Analysis
Sign In Mar 22, 2024
Skip Navigation Links
TA Search
Monthly Pattern:Broadening Descending Wedge
Number of records: 8
Share
Symbol:  

• Symbol Lookup
• View Technical Chart
• Add to Watch List
• Candlestick Patterns - N/A
• Stock Technical Indicators
• Stock Trends Analysis
• Market Sector Rank
• Stock Trading Signals

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.

Advanced TA Search

Archive
- 3/15/2024 -
Sign In to see current Signals.

Walt Disney Co. (DIS) Technical Analysis

Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :Williams' Percentage Range and Lane's Stochastic are overboughtBroken trend resistance line
Daily :The price has fallen below the Parabolic SAR
Move cursor over the icon to see details.

It was a first positive week for the Walt Disney Co. (DIS). During the week, the DIS gained 1.63 points, or 1.48%, and closed at 111.95 on Friday, March 15, 2024. Weekly volume was -32% below average.

Long-term trend: [See DIS long-term trend chart]
A long-term downtrend had started on March 8, 2021 at 203.02 and reached 78.73 on October 4, 2023. DIS lost 124.29 points, or 61.22%, in 134 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (74.21) is broken. A broken support is considered to be a long-term bullish 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 resistance line in a long-term trend.

Medium-term trend: [See DIS medium-term trend chart]
A medium-term uptrend had started on October 4, 2023 at 78.73 and reached 115.19 on March 5, 2024. DIS gained -36.46 points, or -46.31%, in 21 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 95.22 and resistance is at 125.28. 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 medium-term trend.

Weekly Technical Indicators: [See DIS weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. 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 October 6, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.

Short-term trend: [See DIS short-term trend chart]
A short-term uptrend had started on March 7, 2024 at 109.20 and reached 114.13 on March 13, 2024. DIS gained -4.93 points, or -4.51%, in 6 days. The price is now at the 44.22% retracement level.

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

The daily MACD line is below its signal line since February 22, 2024.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.90
Williams' Percentage Range (W%R) 38.30
Lane's Stochastic (%D-Slow) 51.81
Greed/Fear Indicator (GFI) 60.12
Moving Average Converg./Diverg. (MACD) 2.92
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 75.47
Williams' Percentage Range (W%R) 10.00
Overbought
Lane's Stochastic (%D-Slow) 87.57
Overbought
Greed/Fear Indicator (GFI) 80.43
Overbought
Moving Average Converg./Diverg. (MACD) 3.19
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 125.28
Monthly Trendline Resistance 116.70
Parabolic System 115.19
Upper Bollinger Band 113.62
Monthly Trendline Support 113.21
Weekly Stochastic Crossing 112.11
Price 111.95
Daily Stochastic Crossing 111.70
20 Day Moving Average 110.70
Lower Bollinger Band 106.16
50 Day Moving Average 102.59
Quarterly Trendline Support 95.22
Sector and Industry
Description Name Rank
Sector Communication Services 5
Industry Movies & Entertainment 45
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 114.13
High Date 03/13/2024
Low 109.51
Low Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 109.20
Low Date 03/07/2024
High 114.13
High Date 03/13/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 116.70
Support 113.21
Low 88.69
Low Date 01/11/2024
High 115.19
High Date 03/05/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 125.28
Support 95.22
Low 78.73
Low Date 10/04/2023
High 115.19
High Date 03/05/2024
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 69.99
Support 74.21
High 203.02
High Date 03/08/2021
Low 78.73
Low Date 10/04/2023
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.