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Monthly Pattern:Symmetric Triangle
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- 3/17/2023 -
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PriceChg%DailyWklyDailyWklyDailyWklyMtlyQtlyYrlySectorIndustrySignalsRanksticksList
^DJI 31861.98-0.15%31.0736.13 Add to Watch List
ABBV 154.223.01%72.5046.18 5 63 2 Downtrend Resistance03/15/23	Bearish  Advance Block
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ADBE 358.148.76%70.5149.03 11 119 3 Downtrend Broken Resist.Add to Watch List
ADSK 199.112.62%38.7646.61 11 119 Downtrend Broken Resist.03/13/23	Bullish  Piercing Line
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APTV 107.20-3.49%32.4163.71 8 120 1 03/16/23	Bullish  Long White Real Body
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AVY 166.47-2.50%27.3732.61 4 25 1 Add to Watch List
CPB 53.381.66%72.9848.77 7 60 1 Downtrend Broken Resist.Add to Watch List
EMR 80.84-1.62%33.1721.99 9 91 1 Add to Watch List
EXC 42.144.88%69.7653.95 6 69 1 Downtrend Broken Resist.03/13/23	Bullish  Long White Real Body
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EXPE 93.42-4.95%19.8743.11 8 96 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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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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