The Greedy Trader Weekly Analysis
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Monthly Pattern:Broadening Right-Angled, Ascending Wedge
Number of records: 1
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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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Edison Int'l (EIX)

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Summary:
Weekly :Broken trend support lineOversold sectorBroken trend resistance line
Daily :Daily  MACD line has moved above its signal line
Move cursor over the icon to see details.

It was a first positive week after 5 consecutive negative weeks for the Edison Int'l (EIX). During the week, the EIX gained 0.72 points, or 1.10%, and closed at 66.30 on Friday, November 8, 2019. It was the best weekly gain since September 27, 2019. Weekly volume was -33% below average.

EIX is a member of Utilities Sector. Utilities is the most oversold 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 EIX long-term trend chart]
A long-term downtrend had started on November 15, 2017 at 83.38 and reached 45.50 on November 12, 2018. EIX lost 37.88 points, or 45.43%, in 51 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (31.80) 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 EIX medium-term trend chart]
A medium-term uptrend had started on November 12, 2018 at 45.50 and reached 76.45 on September 26, 2019. EIX gained -30.95 points, or -68.02%, in 45 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (68.92) 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 medium-term trend.

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

The weekly MACD line is below its signal line since October 11, 2019. Use the following link to access a MACD help.

Short-term trend: [See EIX short-term trend chart]
A short-term uptrend had started on October 30, 2019 at 60.31 and reached 67.26 on November 5, 2019. EIX gained -6.95 points, or -11.52%, in 6 days. The price is now at the 13.81% retracement level.

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

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

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 38.99
Williams' Percentage Range (W%R) 59.50
Lane's Stochastic (%D-Slow) 62.01
Greed/Fear Indicator (GFI) 47.18
Moving Average Converg./Diverg. (MACD) -1.87
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 31.62
Williams' Percentage Range (W%R) 69.40
Lane's Stochastic (%D-Slow) 33.10
Greed/Fear Indicator (GFI) 35.95
Moving Average Converg./Diverg. (MACD) 2.28
Trading Signals
Description Value Chart
Upper Bollinger Band 73.86
50 Day Moving Average 71.14
Quarterly Trendline Support 68.92
20 Day Moving Average 67.71
Parabolic System 67.19
Price 66.30
Daily Stochastic Crossing 64.86
Weekly Stochastic Crossing 64.62
Lower Bollinger Band 61.63
Yearly Trendline Resistance 53.87
Sector and Industry
Description Name Rank
Sector Utilities 1
Industry Electric Utilities 63
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 60.31
Low Date 10/30/2019
High 67.26
High Date 11/05/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 60.31
Low Date 10/30/2019
High 67.26
High Date 11/05/2019
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 76.45
High Date 09/26/2019
Low 60.31
Low Date 10/30/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 82.77
Support 68.92
Low 45.50
Low Date 11/12/2018
High 76.45
High Date 09/26/2019
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 53.87
Support 31.80
High 83.38
High Date 11/15/2017
Low 45.50
Low Date 11/12/2018
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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