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| 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. |
Falling Wedge Pattern,Falling Wedge,Falling Wedge Chart Pattern,Charting technique, chart pattern, chart, pattern, technical analysis, signals, chart analysis, pattern recognition, screening, technical trading |
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Advanced TA SearchArchive
- 3/17/2023 -
Sign In to see current Signals. |
ANSYS Inc. (ANSS) |
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| Summary:
| | Weekly :  | | Daily :
Move cursor over the icon to see details.
| | It was a first positive week for the ANSYS Inc. (ANSS). During the week, the ANSS gained 15.06 points, or 5.09%, and closed at 311.09 on Friday, March 17, 2023. Weekly volume was 54% above average.
ANSS is a member of Information Technology Sector. Information Technology 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 ANSS long-term trend chart]
A long-term downtrend had started on November 5, 2021 at 413.89 and reached 194.23 on October 13, 2022. ANSS lost 219.66 points, or 53.07%, in 48 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (153.26) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. ANSS may retest the broken resistance line. It is considered to be a support line now. 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 long-term trend.
 Medium-term trend: [See ANSS medium-term trend chart]
A medium-term uptrend had started on October 13, 2022 at 194.23 and reached 316.48 on March 17, 2023. ANSS gained -122.25 points, or -62.94%, in 22 weeks. Price is near the trend high.
 Weekly Technical Indicators: [See ANSS weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 and Williams' Percentage Range help.
The weekly MACD line is above its signal line since November 4, 2022. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. 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 13, 2023 at 290.93 and reached 316.48 on March 17, 2023. ANSS gained -25.55 points, or -8.78%, in 4 days. The price is now at the 21.10% retracement level.
 Daily Technical Indicators: [See ANSS daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range. Daily Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.
The daily MACD line is below its signal line since March 16, 2023. The distance between MACD and the signal line is low and getting smaller.
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