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| Chart Analysis and Chart Pattern Recognition – Broadening Formations |
Broadening Formations, including Broadening Ascending Wedge, present inverted triangle patterns. They start with narrow
fluctuations, and then widen out between diverging boundary lines. The pattern, where
one of the boundary lines is horizontal, is referred to as a right-angled formation.
Broadening formations usually mark the reversal when confirmed by other technical
indicators.
Broadening formations Screening page presents a list of stocks forming Broadening formation Pattern.
Tips:
# 1 As a reversal formation, Broadening formation 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.
# 2 For the best results, chart patterns and trend resistance support should be considered together with other technical analysis signals and technical trading techniques.
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Broadening Ascending Wedge Pattern,Broadening Ascending Wedge,Broadening formation,Broadening Ascending Wedge Chart Pattern,Trend Resistance, chart pattern, chart, pattern, technical analysis, signals, chart analysis, pattern recognition, screening, technical trading,Broadening Right-Angled Ascending Wedge,Broadening Right-Angled Descending Wedge |
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Advanced TA SearchArchive
- 5/26/2023 -
Sign In to see current Signals. |
Amazon.com (AMZN) |
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| Summary:
| | Weekly :  | | Daily :
Move cursor over the icon to see details.
| | It was a fourth consecutive positive week for the Amazon.com (AMZN). During the week, the AMZN gained 3.86 points, or 3.32%, and closed at 120.11 on Friday, May 26, 2023. Weekly volume was 10% above average.
 Long-term trend: [See AMZN long-term trend chart]
A long-term downtrend had started on July 13, 2021 at 3773.08 and reached 81.43 on January 6, 2023. AMZN lost 3691.65 points, or 97.84%, in 77 weeks. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. A Broadening Descending 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 Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a long-term trend.
 Medium-term trend: [See AMZN medium-term trend chart]
A medium-term uptrend had started on March 13, 2023 at 88.12 and reached 121.50 on May 26, 2023. AMZN gained -33.38 points, or -37.88%, in 10 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (119.60). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.
 Weekly Technical Indicators: [See AMZN weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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 and Williams' Percentage Range help.
The weekly MACD line is above its signal line since September 2, 2022. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See AMZN short-term trend chart]
A short-term uptrend had started on May 2, 2023 at 101.15 and reached 121.50 on May 26, 2023. AMZN gained -20.35 points, or -20.12%, in 24 days. The price is now at the 6.83% retracement level.
 Daily Technical Indicators: [See AMZN daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence.
The daily MACD line is above its signal line since May 9, 2023. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
The distance between the Bollinger Bands is falling, and it was 17.98% on Friday. It is 93.24% 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.
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