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Weekly Pattern:Symmetric Triangle
Number of records: 14
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- 11/8/2019 -
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Symbol Weekly GFI Oscillators Trend Analysis Ranking Technical Candle Watch 
PriceChg%DailyWklyDailyWklyDailyWklyMtlyQtlyYrlySectorIndustrySignalsRanksticksList
CNP 28.78-0.83%39.4948.40 1 26 1 11/06/19	Bullish  Ladder Bottom
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FXF 92.57-1.15%27.4531.91 3 Add to Watch List
GLD 137.39-3.63%24.4240.74 3 Add to Watch List
HST 17.172.45%55.8951.63 8 48 1 11/05/19	Bearish  Deliberation
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JNJ 133.001.37%58.7041.49 4 74 Add to Watch List
L 51.002.43%66.6952.21 8 36 1 Add to Watch List
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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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