The Greedy Trader Weekly Analysis
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Yearly Pattern:Symmetric Triangle
Number of records: 10
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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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The India Fund Inc. (IFN) Technical Analysis

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Summary:
Weekly :Broken trend support lineWilliams' Percentage Range and Lane's Stochastic are overbought
Daily :The price has fallen below the Parabolic SARThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the The India Fund Inc. (IFN). During the week, the IFN dropped -0.80 points, or -3.81%, and closed at 20.22 on Friday, March 15, 2024. It was the worst weekly loss since October 27, 2023. Weekly volume was 29% above average.

Long-term trend: [See IFN long-term trend chart]
A long-term uptrend had started on March 28, 2023 at 14.40 and reached 21.23 on March 8, 2024. IFN gained -6.83 points, or -47.43%, in 49 weeks. The price is now at the 14.79% retracement level.

Medium-term trend: [See IFN medium-term trend chart]
A medium-term uptrend had started on October 26, 2023 at 15.56 and reached 21.23 on March 8, 2024. IFN gained -5.67 points, or -36.44%, in 19 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (20.52) 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 IFN 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 December 1, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively 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 IFN short-term trend chart]
A short-term downtrend had started on March 8, 2024 at 21.23 and reached 20.20 on March 15, 2024. IFN lost 1.03 points, or 4.85%, in 7 days. Price is near the trend low.

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

The daily MACD line is below its signal line since February 26, 2024. This is an indication that the short-term trend is down.

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 declined below the moving average in the center of the Bollinger Bands. 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) 47.06
Williams' Percentage Range (W%R) 61.10
Lane's Stochastic (%D-Slow) 29.27
Greed/Fear Indicator (GFI) 38.41
Moving Average Converg./Diverg. (MACD) 0.33
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 73.08
Williams' Percentage Range (W%R) 13.60
Overbought
Lane's Stochastic (%D-Slow) 89.81
Overbought
Greed/Fear Indicator (GFI) 78.39
Moving Average Converg./Diverg. (MACD) 0.78
Trading Signals
Description Value Chart
Parabolic System 21.19
Upper Bollinger Band 20.93
Weekly Stochastic Crossing 20.91
Monthly Trendline Resistance 20.88
20 Day Moving Average 20.55
Monthly Trendline Support 20.52
Daily Stochastic Crossing 20.39
Price 20.22
Lower Bollinger Band 19.91
50 Day Moving Average 19.73
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 21.23
High Date 03/08/2024
Low 20.20
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 21.23
High Date 03/08/2024
Low 20.20
Low Date 03/15/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 20.88
Support 20.52
Low 15.56
Low Date 10/26/2023
High 21.23
High Date 03/08/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 14.40
Low Date 03/28/2023
High 21.23
High Date 03/08/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 40.94
High Date 11/08/2010
Low 11.13
Low Date 03/23/2020
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.