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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CurrencyShares Swiss Franc Trust (FXF) Technical Analysis

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Summary:
Weekly :Lane's Stochastic is oversoldTrend support at 100.59
Daily :A Parabolic SAR indicator is above and near the priceThe price touches the lower Bollinger BandThe Bollinger Bands are historically close together
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It was the negative week for the CurrencyShares Swiss Franc Trust (FXF). During the week, the FXF gave back -0.69 points, or -0.68%, and closed at 100.72 on Friday, March 15, 2024. Weekly volume was -25% below average.

Long-term trend: [See FXF long-term trend chart]
A long-term uptrend had started on October 3, 2023 at 96.27 and reached 106.75 on December 28, 2023. FXF gained -10.48 points, or -10.89%, in 12 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (100.59) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a long-term trend.

Medium-term trend: [See FXF medium-term trend chart]
A medium-term downtrend had started on December 28, 2023 at 106.75 and reached 100.17 on March 1, 2024. FXF lost 6.58 points, or 6.16%, in 9 weeks. The price is now at the 8.36% retracement level.

Weekly Technical Indicators: [See FXF weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 link to access Lane's Stochastic help.

The weekly MACD line is below its signal line since February 9, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.

Short-term trend: [See FXF short-term trend chart]
A short-term downtrend had started on March 8, 2024 at 101.67 and reached 100.61 on March 15, 2024. FXF lost 1.06 points, or 1.04%, in 7 days. The price is now at the 10.38% retracement level.

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

The daily MACD line is above its signal line since February 26, 2024. The distance between MACD and the signal line is low and getting smaller.

A Parabolic SAR (stop and reversal) indicator (100.54) comes close to the price (100.72). It indicates that the trend is getting weaker. 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.

The price touches the lower Bollinger Band. The distance between the Bollinger Bands (1.11%) is close to one year low (1.42%). It is 67.18% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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) 43.31
Williams' Percentage Range (W%R) 60.00
Lane's Stochastic (%D-Slow) 55.62
Greed/Fear Indicator (GFI) 46.31
Moving Average Converg./Diverg. (MACD) -0.30
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.26
Williams' Percentage Range (W%R) 65.30
Lane's Stochastic (%D-Slow) 13.71
Oversold
Greed/Fear Indicator (GFI) 31.22
Moving Average Converg./Diverg. (MACD) 0.75
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 114.64
50 Day Moving Average 102.13
Upper Bollinger Band 101.76
Daily Stochastic Crossing 101.11
20 Day Moving Average 101.04
Weekly Stochastic Crossing 100.73
Price 100.72
Lower Bollinger Band 100.65
Quarterly Trendline Support 100.59
Parabolic System 100.54
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 101.67
High Date 03/08/2024
Low 100.61
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 100.17
Low Date 03/01/2024
High 101.67
High Date 03/08/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 106.75
High Date 12/28/2023
Low 100.17
Low Date 03/01/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Test Support
Resistance 114.64
Support 100.59
Low 96.27
Low Date 10/03/2023
High 106.75
High Date 12/28/2023
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 88.08
Low Date 11/03/2022
High 106.75
High Date 12/28/2023
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.