The Greedy Trader Weekly Analysis
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Quarterly Pattern:Symmetric Triangle
Number of records: 10
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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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- 6/7/2024 -
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International Flav/Frag (IFF) Technical Analysis

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Summary:
Weekly :Overbought sectorRelative Strength Index and Lane's Stochastic are overboughtWilliams' Percentage Range is strongly overboughtPrice is near the Fibonacci 38.2% retracement level
Daily :The price has risen above the Parabolic SARThe price is above the upper Bollinger BandThe period of low volatility of the stock price
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It was a second consecutive positive week for the International Flav/Frag (IFF). During the week, the IFF gained 2.30 points, or 2.39%, and closed at 98.48 on Friday, June 7, 2024. Weekly volume was -38% below average.

IFF is a member of Materials Sector. Materials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See IFF long-term trend chart]
A long-term downtrend had started on August 11, 2021 at 157.08 and reached 62.11 on August 18, 2023. IFF lost 94.97 points, or 60.46%, in 105 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Medium-term trend: [See IFF medium-term trend chart]
A medium-term uptrend had started on August 18, 2023 at 62.11 and reached 99.91 on May 20, 2024. IFF gained -37.80 points, or -60.86%, in 39 weeks. Price is near the trend high.

Weekly Technical Indicators: [See IFF weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since October 13, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See IFF short-term trend chart]
A short-term uptrend had started on February 28, 2024 at 72.94 and reached 99.91 on May 20, 2024. IFF gained -26.97 points, or -36.98%, in 82 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 92.21 and resistance is at 105.84. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.

Daily Technical Indicators: [See IFF daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since May 22, 2024. The distance between MACD and the signal line is low and getting smaller.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. The distance between the Bollinger Bands is falling, and it was 5.52% on Friday. It is 57.85% lower than one year average. It indicates the period of low volatility of the stock price. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 45.18
Williams' Percentage Range (W%R) 33.40
Lane's Stochastic (%D-Slow) 78.88
Greed/Fear Indicator (GFI) 63.56
Moving Average Converg./Diverg. (MACD) 2.21
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 82.29
Overbought
Williams' Percentage Range (W%R) 7.90
Strong Overbought
Lane's Stochastic (%D-Slow) 87.78
Overbought
Greed/Fear Indicator (GFI) 80.83
Overbought
Moving Average Converg./Diverg. (MACD) 3.17
Trading Signals
Description Value Chart
Weekly Trendline Resistance 105.84
Price 98.48
Daily Stochastic Crossing 98.24
Upper Bollinger Band 98.22
Weekly Stochastic Crossing 97.29
20 Day Moving Average 96.80
Parabolic System 93.98
Lower Bollinger Band 92.77
Weekly Trendline Support 92.21
50 Day Moving Average 90.37
Sector and Industry
Description Name Rank
Sector Materials 10
Industry Specialty Chemicals 55
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 99.91
High Date 05/20/2024
Low 93.56
Low Date 05/29/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 105.84
Support 92.21
Low 72.94
Low Date 02/28/2024
High 99.91
High Date 05/20/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 62.11
Low Date 08/18/2023
High 99.91
High Date 05/20/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 157.08
High Date 08/11/2021
Low 62.11
Low Date 08/18/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 157.40
High Date 01/17/2018
Low 62.11
Low Date 08/18/2023
Warning: TheGreedyTrader.com 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.