The Greedy Trader Weekly Analysis
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Stocks Screener - Rising Wedge

Weekly Pattern:Rising Wedge
Number of records: 22
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- 9/22/2023 -
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Symbol View HelpWeekly View HelpGFI View HelpOscillators View HelpTrend Analysis View HelpRanking View HelpTechnical View HelpCandle View HelpWatch View Help
ABBV 152.740.41%79.4879.71 6 83 1 Uptrend Broken SupportAdd to Watch List
AJG 233.081.28%63.7177.82 11 118 4 Add to Watch List
AKAM 107.552.92%77.6182.67 10 95 4 09/18/23	Bullish  Piercing Line
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AVY 180.860.17%26.1563.31 8 84 1 Add to Watch List
CVX 166.28-0.13%62.7074.03 12 117 1 Add to Watch List
DJP 32.69-1.18%53.3876.49 2 Add to Watch List
EWC 33.95-3.69%40.5939.66 3 Add to Watch List
FOXA 31.35-1.66%49.9132.72 9 36 1 09/22/23	Bearish  Long Red Real Body
09/20/23	Bearish  Long Red Real Body
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GCC 18.18-1.46%53.9076.61 3 Downtrend Broken Resist.Add to Watch List

Rising Wedge Pattern (Ascending Wedge)

Rising Wedge Chart PatternA Rising Wedge pattern also known as Ascending Wedge pattern is one of the most reliable, low-risk, and high-reward chart pattern. A Rising Wedge (Ascending Wedge) pattern is a triangle formation with noticeable slant to the upside. The line that connects the bottoms of the formation represents a support trend line. The resistance trend line connects the formation's tops. The Rising Wedge pattern is valid when the price touched both the support and resistance lines alternatively at least tree times. Unlike the Rising Channel formation, where support and resistance lines are parallel, in a Rising Wedge formation the support line is noticeably steeper than the resistance line. A Rising Wedge represents the loss of the upside momentum and has a bearish bias.

Stock Chart Patterns.

Price chart is the result of activity of all market participants. It reflects periods of high expectations, greed and fear. As 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 sub waves are required to perform a reliable pattern screening. We use minimal required number of sub waves for an earlier pattern recognition screener. On the other hand, pattern formed with more sub waves is more reliable.
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Warning: 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.