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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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Charter Communications (CHTR) |
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| Summary:
| | Weekly : | | Daily :
Move cursor over the icon to see details.
| | It was a first positive week after 5 consecutive negative weeks for the Charter Communications (CHTR). During the week, the CHTR gained 20.52 points, or 6.23%, and closed at 350.01 on Friday, March 17, 2023. It was the best weekly gain since January 13, 2023. Weekly volume was 17% above average.
CHTR is a member of Communication Services Sector. Communication Services 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 CHTR long-term trend chart]
A long-term downtrend had started on September 2, 2021 at 825.62 and reached 297.66 on October 13, 2022. CHTR lost 527.96 points, or 63.95%, in 58 weeks. The price is now at the 9.92% retracement level.
 Medium-term trend: [See CHTR medium-term trend chart]
A medium-term uptrend had started on October 13, 2022 at 297.66 and reached 415.29 on February 2, 2023. CHTR gained -117.63 points, or -39.52%, in 16 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 313.28 and resistance is at 418.55. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.
 Weekly Technical Indicators: [See CHTR weekly technical indicators chart]
Weekly technical indicators are neutral.
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 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 CHTR short-term trend chart]
A short-term uptrend had started on March 13, 2023 at 322.88 and reached 352.98 on March 17, 2023. CHTR gained -30.10 points, or -9.32%, in 4 days. The price is now at the 9.87% retracement level.
Daily Technical Indicators: [See CHTR daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish 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 Lane's Stochastic help.
The daily MACD line is below its signal line since February 7, 2023. The distance between MACD and the signal line is low and getting smaller.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.
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