The Greedy Trader Weekly Analysis
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Stocks Screener

Yearly Pattern:Rising Wedge
Number of records: 14
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Trend Analysis and Technical Indicators Scanner

- 5/31/2024 -
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BIIB 224.943.27%38.6856.29 2 55 1 Add to Watch List
CAH 99.272.99%47.1822.25 2 30 2 Add to Watch List
FANG 199.263.00%50.9361.57 5 45 1 05/30/24	Bullish  Piercing Line
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FXF 98.531.33%63.3231.62 2 05/31/24	Bullish  Doji
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HIG 103.452.14%54.4569.28 9 90 1 Add to Watch List
HPE 17.65-4.13%55.4553.05 4 100 2 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.

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.