The Greedy Trader Weekly Analysis
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Weekly Pattern:Broadening Ascending Wedge
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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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- 3/15/2024 -
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Darden Restaurants (DRI) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range and Lane's Stochastic are overbought
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SAR
Move cursor over the icon to see details.

It was a fourth consecutive positive week for the Darden Restaurants (DRI). During the week, the DRI climbed 0.39 points, or 0.23%, and closed at 171.96 on Friday, March 15, 2024. DRI was trading at average weekly trading volume.

Long-term trend: [See DRI long-term trend chart]
A long-term uptrend had started on June 16, 2022 at 110.96 and reached 176.84 on March 4, 2024. DRI gained -65.88 points, or -59.37%, in 89 weeks. The price is now at the 7.41% retracement level.

Medium-term trend: [See DRI medium-term trend chart]
A medium-term uptrend had started on October 13, 2023 at 133.36 and reached 176.84 on March 4, 2024. DRI gained -43.48 points, or -32.60%, in 20 weeks. The price is now at the 11.22% retracement level.

Weekly Technical Indicators: [See DRI 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 November 17, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See DRI short-term trend chart]
A short-term uptrend had started on January 16, 2024 at 154.74 and reached 176.84 on March 4, 2024. DRI gained -22.10 points, or -14.28%, in 48 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 165.26 and resistance is at 181.25. 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 short-term trend.

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

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

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) 57.25
Williams' Percentage Range (W%R) 39.30
Lane's Stochastic (%D-Slow) 40.12
Greed/Fear Indicator (GFI) 52.71
Moving Average Converg./Diverg. (MACD) 2.32
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.66
Williams' Percentage Range (W%R) 15.80
Overbought
Lane's Stochastic (%D-Slow) 82.01
Overbought
Greed/Fear Indicator (GFI) 73.09
Moving Average Converg./Diverg. (MACD) 3.18
Trading Signals
Description Value Chart
Weekly Trendline Resistance 181.25
Upper Bollinger Band 177.02
Parabolic System 176.50
Weekly Stochastic Crossing 174.15
Daily Stochastic Crossing 172.71
Price 171.96
20 Day Moving Average 170.76
50 Day Moving Average 165.83
Weekly Trendline Support 165.26
Lower Bollinger Band 164.21
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 7
Industry Restaurants 54
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 176.84
High Date 03/04/2024
Low 170.36
Low Date 03/11/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 181.25
Support 165.26
Low 154.74
Low Date 01/16/2024
High 176.84
High Date 03/04/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 133.36
Low Date 10/13/2023
High 176.84
High Date 03/04/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 110.96
Low Date 06/16/2022
High 176.84
High Date 03/04/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 13.21
Low Date 11/21/2008
High 176.84
High Date 03/04/2024
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.