The Greedy Trader Weekly Analysis
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Stocks Screener - Symmetric Triangle

Weekly Pattern:Symmetric Triangle
Number of records: 26
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- 5/17/2024 -
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^DJI 40003.591.24%87.9264.63 1 Add to Watch List
ACN 303.59-0.89%52.0318.25 4 25 1 Add to Watch List
ADI 214.083.33%84.3173.78 4 74 3 Add to Watch List
BDX 236.300.27%51.8237.17 3 46 2 05/16/24	Bullish  Doji
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BF.B 48.47-1.32%60.7619.70 8 19 05/13/24	Bullish  Doji
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CBRE 91.271.16%72.6742.93 6 30 Downtrend Resistance05/13/24	Bearish  Dark Cloud Cover
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CCL 15.003.95%67.2930.70 1 40 3 Add to Watch List
CHD 106.39-0.86%59.0875.83 8 76 2 Add to Watch List
DIA 399.951.21%87.2764.06 3 Add to Watch List
DVA 139.821.67%52.0067.43 3 95 2 Add to Watch List

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.
# 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.

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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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.