The Greedy Trader Weekly Analysis
Sign In Mar 22, 2024
Skip Navigation Links
TA Search
Weekly Pattern:Broadening Ascending Wedge
Number of records: 10
Share
Symbol:  

• Symbol Lookup
• View Technical Chart
• Add to Watch List
• Candlestick Patterns - N/A
• Stock Technical Indicators
• Stock Trends Analysis
• Market Sector Rank
• Stock Trading Signals

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.

Advanced TA Search

Archive
- 3/15/2024 -
Sign In to see current Signals.

Gartner Inc (IT) Technical Analysis

Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :Overbought sectorWilliams' Percentage Range is strongly overboughtRelative Strength Index and Lane's Stochastic bearish divergenceBroken trend resistance line
Daily :
Move cursor over the icon to see details.

It was a first positive week for the Gartner Inc (IT). During the week, the IT gained 7.41 points, or 1.60%, and closed at 470.97 on Friday, March 15, 2024. Weekly volume was -34% below average.

IT is a member of Information Technology Sector. Information Technology is the second most overbought 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 IT long-term trend chart]
A long-term uptrend had started on June 24, 2020 at 114.83 and reached 479.00 on March 14, 2024. IT gained -364.17 points, or -317.14%, in 194 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (338.91) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 IT medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 323.61 and reached 479.00 on March 14, 2024. IT gained -155.39 points, or -48.02%, in 19 weeks. The price is now at the 5.17% retracement level.

Weekly Technical Indicators: [See IT weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Weekly Relative Strength Index and Lane's Stochastic have bearish divergence. Use the following links to access the Relative Strength Index and Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index and Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is below its signal line since March 1, 2024. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.

Short-term trend: [See IT short-term trend chart]
A short-term uptrend had started on February 6, 2024 at 431.00 and reached 479.00 on March 14, 2024. IT gained -48.00 points, or -11.14%, in 37 days. The chart has formed a Rising Wedge chart pattern.

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

The daily MACD line is above its signal line since February 26, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 58.18
Williams' Percentage Range (W%R) 31.60
Lane's Stochastic (%D-Slow) 71.63
Greed/Fear Indicator (GFI) 66.07
Moving Average Converg./Diverg. (MACD) 3.83
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 56.24
Bearish
Williams' Percentage Range (W%R) 8.50
Strong Overbought
Lane's Stochastic (%D-Slow) 73.85
Bearish
Greed/Fear Indicator (GFI) 73.08
Moving Average Converg./Diverg. (MACD) 27.53
Trading Signals
Description Value Chart
Upper Bollinger Band 484.29
Daily Stochastic Crossing 475.21
Price 470.97
Weekly Stochastic Crossing 468.10
20 Day Moving Average 463.17
Parabolic System 462.39
50 Day Moving Average 458.18
Lower Bollinger Band 446.16
Sector and Industry
Description Name Rank
Sector Information Technology 8
Industry IT Consulting & Other Services 77
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Low 431.00
Low Date 02/06/2024
High 479.00
High Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 323.61
Low Date 10/27/2023
High 479.00
High Date 03/14/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 292.60
Low Date 04/26/2023
High 479.00
High Date 03/14/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 221.39
Low Date 06/16/2022
High 479.00
High Date 03/14/2024
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 346.19
Support 338.91
Low 114.83
Low Date 06/24/2020
High 479.00
High Date 03/14/2024
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.