The Greedy Trader Weekly Analysis
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Monthly Pattern:Broadening Right-Angled, Ascending Wedge
Number of records: 2
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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 :
Daily :The price has fallen below the Parabolic SARThe price moved above the moving average in the center of the Bollinger BandsThe period of low volatility of the stock price
Move cursor over the icon to see details.

It was the negative week for the Edison Int'l (EIX). During the week, the EIX gave back -0.35 points, or -0.62%, and closed at 55.67 on Friday, July 31, 2020. Weekly volume was -36% below average.

Long-term trend: [See EIX long-term trend chart]
A long-term downtrend had started on February 11, 2020 at 78.93 and reached 43.63 on March 16, 2020. EIX lost 35.30 points, or 44.72%, in 4 weeks. The price is now at the 34.11% retracement level.

Medium-term trend: [See EIX medium-term trend chart]
A medium-term uptrend had started on March 16, 2020 at 43.63 and reached 64.92 on June 8, 2020. EIX gained -21.29 points, or -48.80%, in 12 weeks. The price is now at the 43.45% retracement level.

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

The weekly MACD line is above its signal line since June 5, 2020. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See EIX short-term trend chart]
A short-term downtrend had started on July 15, 2020 at 57.59 and reached 52.90 on July 27, 2020. EIX lost 4.69 points, or 8.14%, in 12 days. The chart has formed a Broadening Descending Wedge chart pattern.

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

The daily MACD line is above its signal line since July 30, 2020. The distance between MACD and the signal line is low and getting smaller.

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 moved above the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 7.19% on Friday. It is 53.39% 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.98
Williams' Percentage Range (W%R) 62.00
Lane's Stochastic (%D-Slow) 37.11
Greed/Fear Indicator (GFI) 41.35
Moving Average Converg./Diverg. (MACD) -0.44
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 40.90
Williams' Percentage Range (W%R) 49.10
Lane's Stochastic (%D-Slow) 21.52
Greed/Fear Indicator (GFI) 41.24
Moving Average Converg./Diverg. (MACD) -3.11
Trading Signals
Description Value Chart
Upper Bollinger Band 57.50
Parabolic System 57.28
50 Day Moving Average 56.82
Price 55.67
20 Day Moving Average 55.37
Weekly Stochastic Crossing 55.33
Daily Stochastic Crossing 54.86
Lower Bollinger Band 53.50
Sector and Industry
Description Name Rank
Sector Utilities 5
Industry Electric Utilities 45
Daily Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
High 57.59
High Date 07/15/2020
Low 52.90
Low Date 07/27/2020
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 64.92
High Date 06/08/2020
Low 52.56
Low Date 07/09/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 43.63
Low Date 03/16/2020
High 64.92
High Date 06/08/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 78.93
High Date 02/11/2020
Low 43.63
Low Date 03/16/2020
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 83.38
High Date 11/15/2017
Low 43.63
Low Date 03/16/2020
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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