The Greedy Trader Weekly Analysis
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Weekly Pattern:Ascending Triangle
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Chart Analysis and Chart Pattern Recognition – Ascending Triangle Pattern

The ascending triangle pattern is a variation of symmetrical triangle formation that has a flat resistance line and a rising support line. The higher lows indicate the increasing demand and give the ascending triangle definitive bullish bias. The ascending triangle usually represents an accumulation stage in bullish market. The ascending triangle is considered as a continuation pattern, especially in an uptrend, but it may also mark a reversal in a downtrend. Volume usually increases on a breakout move. After breakout (similar to rectangle), resistance may turn into potential support and vice versa.
Ascending Triangle Screening page presents a list of stocks forming an Ascending Triangle Pattern.
Tips:
# 1As a continuation pattern, an ascending triangle usually appears within a young trend, characterized by neutral long-term indicators and overbought short-term indicators. An ascending triangle resets short-term indicators to neutral and then continues the movement in parent's direction.
# 2 As a reversal formation, an ascending triangle appears in a mature downtrend, characterized by oversold short-term and long-term indicators. This situation usually generates bullish divergence on long-term indicators.
# 3 For the best results, chart patterns should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance line.

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- 5/10/2024 -
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Exelon Corp. (EXC) Technical Analysis

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is strongly overboughtStochastic signal line moved below overbought areaLane's Stochastic and MACD bearish divergencePrice is near the Fibonacci 38.2% retracement level
Daily :Williams' Percentage Range is overboughtThe price has risen above the Parabolic SAR
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It was a second consecutive positive week for the Exelon Corp. (EXC). During the week, the EXC climbed 0.26 points, or 0.69%, and closed at 37.67 on Friday, May 10, 2024. Weekly volume was 16% above average.

EXC is a member of Utilities Sector. Utilities 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 EXC long-term trend chart]
A long-term downtrend had started on January 9, 2023 at 44.37 and reached 33.35 on February 9, 2024. EXC lost 11.02 points, or 24.84%, in 56 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Medium-term trend: [See EXC medium-term trend chart]
A medium-term uptrend had started on February 9, 2024 at 33.35 and reached 38.45 on May 2, 2024. EXC gained -5.10 points, or -15.29%, in 11 weeks. The price is now at the 15.29% retracement level.

Weekly Technical Indicators: [See EXC weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Weekly 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 weekly Lane's Stochastic and 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 March 1, 2024. 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 EXC short-term trend chart]
A short-term uptrend had started on April 16, 2024 at 35.75 and reached 38.45 on May 2, 2024. EXC gained -2.70 points, or -7.55%, in 16 days. The price is now at the 28.89% retracement level.

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

The daily MACD line is above its signal line since May 6, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 50.00
Williams' Percentage Range (W%R) 18.50
Overbought
Lane's Stochastic (%D-Slow) 61.31
Greed/Fear Indicator (GFI) 64.26
Moving Average Converg./Diverg. (MACD) 0.25
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 68.00
Williams' Percentage Range (W%R) 9.80
Strong Overbought
Lane's Stochastic (%D-Slow) 79.81
Bearish
Greed/Fear Indicator (GFI) 76.37
Moving Average Converg./Diverg. (MACD) -0.64 Bearish
Trading Signals
Description Value Chart
Upper Bollinger Band 38.78
Daily Stochastic Crossing 37.93
Weekly Stochastic Crossing 37.88
Price 37.67
20 Day Moving Average 37.42
50 Day Moving Average 37.11
Parabolic System 37.07
Lower Bollinger Band 36.29
Sector and Industry
Description Name Rank
Sector Utilities 12
Industry Multi-Utilities 116
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 35.75
Low Date 04/16/2024
High 38.45
High Date 05/02/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 33.35
Low Date 02/09/2024
High 38.45
High Date 05/02/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 44.37
High Date 01/09/2023
Low 33.35
Low Date 02/09/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 58.01
High Date 12/31/2021
Low 33.35
Low Date 02/09/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 51.18
High Date 06/07/2019
Low 33.35
Low Date 02/09/2024
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.