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Daily Pattern:Broadening Descending Wedge
Number of records: 26
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- 5/31/2024 -
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PriceChg%DailyWklyDailyWklyDailyWklyMtlyQtlyYrlySectorIndustrySignalsRanksticksList
APD 266.700.79%73.3375.22 11 87 1 Add to Watch List
BAX 34.090.56%18.0713.60 2 43 3 Downtrend Exhaustion05/31/24	Bullish  Long White Real Body
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COO 94.31-0.61%46.3427.00 2 9 3 Add to Watch List
CPRI 34.55-0.23%25.2414.85 1 27 3 Add to Watch List
ECL 232.20-0.90%36.7071.18 11 66 05/28/24	Bearish  Long Red Real Body
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EFA 81.180.16%55.6374.65 1 Downtrend Broken Resist.Add to Watch List
EWQ 41.70-0.64%41.8769.25 Add to Watch List
EZU 52.02-0.29%52.0772.89 Add to Watch List
GD 299.770.05%56.2377.50 7 82 1 05/30/24	Bearish  Downside Tasuki Gap
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HOG 35.881.90%52.5831.90 1 21 2 Downtrend Broken Resist.05/30/24	Bullish  Long White Real Body
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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.

Stock Chart Patterns.

The price chart is the result of the activity of all market participants. It reflects periods of high expectations, greed and fear. As with most emotional human activities, it presents different patterns. Chart analysis and pattern recognition provide useful information for technical analysis, trend analysis, and market timing signals for technical trading. Trendlines and chart patterns can be analyzed in different time frames: from intraday, daily and weekly frames, up to multi-year patterns. It is the best practice to analyze patterns in conjunction with other technical indicators. Each price pattern is formed by several smaller sub waves. At least 3 – 4 subwaves are required to perform a reliable pattern screening. We use a minimal required number of sub waves for an earlier pattern recognition screener. On the other hand, a pattern formed with more subwaves is more reliable.
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