The Greedy Trader Weekly Analysis
Sign In Apr 5, 2024
Skip Navigation Links
TA Search
Share
Yearly Pattern:Falling Wedge
Number of records: 10
Symbol:  

• Symbol Lookup
• View Technical Chart
• Add to Watch List
• Candlestick Patterns
• Stock Technical Indicators
• Stock Trends Analysis
• Market Sector Rank
• Stock Trading Signals

Chart Analysis and Chart Pattern Recognition – Falling Wedge Pattern.

A falling wedge pattern is a triangle formation with noticeable slant to the downside. It represents the loss of the downside momentum on each successive low and has a bullish bias. The falling wedges pattern usually marks a reversal in a downtrend. In an uptrend, the falling wedge pattern is considered as a continuation pattern. As with other triangle formations, volume usually diminishes as price rise and then increases during the breakout.
Falling Wedge Screening page presents a list of stocks forming Falling Wedge Pattern.
Tips:
# 1
To confirm the loss of the downside momentum at the reversal point, see bullish divergence on technical indicators.
# 2 For the best results, chart patterns should be considered together with other technical analysis signals and technical trading techniques.

Related Links

Advanced TA Search

Archive
- 3/28/2024 -
Sign In to see current Signals.

ANSYS Inc. (ANSS) Technical Analysis

Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :Williams' Percentage Range is overboughtMACD bearish divergenceTrend support at 343.64
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtStochastic has declined below the signal linePrice is near the Fibonacci 23.6% retracement level
Move cursor over the icon to see details.

It was the negative week for the ANSYS Inc. (ANSS). During the week, the ANSS gave back -2.08 points, or -0.60%, and closed at 347.16 on Thursday, March 28, 2024. Weekly volume was -15% below average.

Long-term trend: [See ANSS long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 194.23 and reached 364.31 on December 29, 2023. ANSS gained -170.08 points, or -87.57%, in 63 weeks. The price is now at the 10.08% retracement level.

Medium-term trend: [See ANSS medium-term trend chart]
A medium-term uptrend had started on November 2, 2023 at 258.01 and reached 364.31 on December 29, 2023. ANSS gained -106.30 points, or -41.20%, in 8 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (343.64) line. The support is usually stronger when technical indicators are oversold. 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 support line in a medium-term trend.

Weekly Technical Indicators: [See ANSS 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. 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 link to access Williams' Percentage Range help.

The weekly MACD line is above its signal line since December 15, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.

Short-term trend: [See ANSS short-term trend chart]
A short-term uptrend had started on March 15, 2024 at 326.20 and reached 354.34 on March 27, 2024. ANSS gained -28.14 points, or -8.63%, in 12 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See ANSS daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since March 18, 2024. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 63.25
Williams' Percentage Range (W%R) 15.50
Overbought
Lane's Stochastic (%D-Slow) 81.42
Overbought
Greed/Fear Indicator (GFI) 76.40
Moving Average Converg./Diverg. (MACD) 2.34
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 45.10
Williams' Percentage Range (W%R) 16.00
Overbought
Lane's Stochastic (%D-Slow) 51.21
Greed/Fear Indicator (GFI) 61.34
Moving Average Converg./Diverg. (MACD) 8.40 Bearish
Trading Signals
Description Value Chart
Upper Bollinger Band 355.42
Daily Stochastic Crossing 350.40
Price 347.16
Monthly Trendline Support 343.64
20 Day Moving Average 339.45
Weekly Stochastic Crossing 338.58
50 Day Moving Average 336.89
Parabolic System 336.37
Lower Bollinger Band 326.84
Sector and Industry
Description Name Rank
Sector Information Technology 7
Industry Application Software 46
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 326.20
Low Date 03/15/2024
High 354.34
High Date 03/27/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 321.45
Low Date 02/21/2024
High 354.34
High Date 03/27/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Test Support
Resistance 496.20
Support 343.64
Low 258.01
Low Date 11/02/2023
High 364.31
High Date 12/29/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 194.23
Low Date 10/13/2022
High 364.31
High Date 12/29/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 413.89
High Date 11/05/2021
Low 194.23
Low Date 10/13/2022
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.