The Greedy Trader Weekly Analysis
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Weekly Pattern:Broadening Descending Wedge
Number of records: 37
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- 3/17/2023 -
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^GSPC 3916.641.43%45.6152.03 2 Downtrend Broken Resist.Add to Watch List
ABC 152.021.62%30.4426.53 5 17 2 Add to Watch List
ADM 74.26-3.13%27.8217.52 7 1 2 03/17/23	Bearish  Long Red Real Body
03/13/23	Bullish  Piercing Line
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AME 134.99-0.54%31.5151.11 9 91 1 Add to Watch List
BAC 27.82-8.09%13.5329.29 3 51 2 Add to Watch List
BBY 76.73-2.39%25.7541.37 8 59 1 03/16/23	Bullish  Long White Real Body
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BIIB 263.162.57%41.6228.81 5 50 2 Add to Watch List
CAH 69.62-2.21%15.6128.99 5 17 Add to Watch List
CBOE 125.766.07%51.9956.38 3 101 1 03/13/23	Bullish  Piercing Line
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CMS 61.345.61%70.8946.92 6 69 2 Add to Watch List
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.
# 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.
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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.
Pattern screener - chart analysis and stock chart pattern recognition with chart patterns screening.
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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.

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