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Rectangle Chart Pattern - Rectangle Pattern and Chart analysis |
A rectangle chart pattern is characterized
as a short-term horizontal channel, and it represents a trading range and
indecision area that usually resolves in the direction of the main trend. Chart analysis usually considers the rectangle pattern as a continuation formation, but it can also mark
significant top and bottom. The rectangle pattern within a younger parent trend has more
chances to mark a continuation. To estimate the maturity of the parent trend,
consult technical indicators. Volume should increase during breakout, but in
contrast with other continuation patterns, the rectangle does not inherit standard
volume behavior. After breakout, the rectangle pattern resistance may turn into potential support and
vice versa.
Tips:
# 1 As a continuation pattern, the rectangle pattern usually appears within a young
trend characterized by neutral long-term indicators and overbought/oversold
daily indicators. The pattern resets short-term indicators to neutral and then
continues movement in the parent's direction.
# 2 As a reversal formation, the pattern appears in a mature trend
characterized by overbought/oversold indicators on long and short time frames.
This situation usually generates divergence on weekly indicators.
# 3 For the best results, the rectangle chart pattern should be considered together with other technical analysis signals, chart analysis, and technical trading techniques.
Estimated target: the higher level parent's support/resistance line.
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Advanced TA SearchArchive
- 6/7/2024 -
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Kimberly-Clark (KMB) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
Move cursor over the icon to see details.
| | It was a second consecutive positive week for the Kimberly-Clark (KMB). During the week, the KMB climbed 1.18 points, or 0.89%, and closed at 134.48 on Friday, June 7, 2024. Weekly volume was 19% above average.
 Long-term trend: [See KMB long-term trend chart]
A long-term downtrend had started on August 12, 2020 at 160.16 and reached 108.74 on October 10, 2022. KMB lost 51.42 points, or 32.11%, in 112 weeks. The price is now at the 50.06% retracement level.
 Medium-term trend: [See KMB medium-term trend chart]
A medium-term uptrend had started on October 6, 2023 at 116.32 and reached 139.75 on April 23, 2024. KMB gained -23.43 points, or -20.14%, in 28 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (119.41) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See KMB weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with 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 link to access Williams' Percentage Range help.
The weekly MACD line is above its signal line since December 1, 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 KMB short-term trend chart]
A short-term uptrend had started on May 29, 2024 at 127.95 and reached 138.64 on June 4, 2024. KMB gained -10.69 points, or -8.35%, in 6 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See KMB daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic. Use the following link to access Lane's Stochastic help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
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