The Greedy Trader Weekly Analysis
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Yearly Pattern:Broadening Ascending Wedge
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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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- 3/15/2024 -
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American Water Works Company Inc (AWK) Technical Analysis

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Summary:
Weekly :Oversold sectorOversold industryRelative Strength Index, Williams' Percentage Range and Lane's Stochastic are oversold
Daily :The price has fallen below the Parabolic SARWilliams' Percentage Range is oversoldThe price touches the lower Bollinger Band
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It was the negative week for the American Water Works Company Inc (AWK). During the week, the AWK dropped -1.30 points, or -1.10%, and closed at 117.14 on Friday, March 15, 2024. Weekly volume was 52% above average.

AWK is a member of Utilities Sector. Utilities is the most oversold sector. AWK is a member of Water Utilities Industry. Water Utilities is the second most oversold industry. 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 AWK long-term trend chart]
A long-term downtrend had started on December 31, 2021 at 189.65 and reached 114.25 on October 23, 2023. AWK lost 75.40 points, or 39.76%, in 94 weeks. The chart has formed a Falling Wedge chart pattern. The trend support level is at 109.64 and resistance is at 130.55. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a long-term trend.

Medium-term trend: [See AWK medium-term trend chart]
A medium-term downtrend had started on December 14, 2023 at 137.43 and reached 116.65 on March 15, 2024. AWK lost 20.78 points, or 15.12%, in 13 weeks. Price is near the trend low.

Weekly Technical Indicators: [See AWK weekly technical indicators chart]
Weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. 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 below its signal line since February 2, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See AWK short-term trend chart]
A short-term downtrend had started on March 5, 2024 at 122.41 and reached 116.65 on March 15, 2024. AWK lost 5.76 points, or 4.71%, in 10 days. The price is now at the 8.51% retracement level.

Daily Technical Indicators: [See AWK daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range.

The daily MACD line is above its signal line since February 29, 2024. The distance between MACD and the signal line is low and getting smaller.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 touches the lower Bollinger Band. 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) 49.18
Williams' Percentage Range (W%R) 94.40
Strong Oversold
Lane's Stochastic (%D-Slow) 40.00
Greed/Fear Indicator (GFI) 31.60
Moving Average Converg./Diverg. (MACD) -1.36
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 13.73
Oversold
Williams' Percentage Range (W%R) 88.00
Oversold
Lane's Stochastic (%D-Slow) 13.24
Oversold
Greed/Fear Indicator (GFI) 22.14
Moving Average Converg./Diverg. (MACD) -3.52
Trading Signals
Description Value Chart
Yearly Trendline Resistance 130.55
50 Day Moving Average 123.40
Upper Bollinger Band 122.94
Parabolic System 122.30
20 Day Moving Average 119.50
Daily Stochastic Crossing 118.34
Weekly Stochastic Crossing 118.14
Price 117.14
Lower Bollinger Band 116.95
Yearly Trendline Support 109.64
Sector and Industry
Description Name Rank
Sector Utilities 1
Industry Water Utilities 2
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 117.46
High Date 03/14/2024
Low 116.65
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 122.41
High Date 03/05/2024
Low 116.65
Low Date 03/15/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 137.43
High Date 12/14/2023
Low 116.65
Low Date 03/15/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 162.59
High Date 02/02/2023
Low 114.25
Low Date 10/23/2023
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Valid
Resistance 130.55
Support 109.64
High 189.65
High Date 12/31/2021
Low 114.25
Low Date 10/23/2023
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.