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| Yearly Pattern: | Broadening Right-Angled, Descending Wedge |
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| Number of records: 2 |
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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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Advanced TA SearchArchive
- 5/26/2023 -
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Hanesbrands (HBI) |
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| Summary:
| | Weekly : | | Daily :
Move cursor over the icon to see details.
| | It was a first positive week after 3 consecutive negative weeks for the Hanesbrands (HBI). During the week, the HBI gained 0.06 points, or 1.49%, and closed at 4.09 on Friday, May 26, 2023. Weekly volume was -20% below average.
 Long-term trend: [See HBI long-term trend chart]
A long-term downtrend had started on March 2, 2015 at 129.46 and reached 3.85 on May 16, 2023. HBI lost 125.61 points, or 97.03%, in 428 weeks. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a long-term trend.
 Medium-term trend: [See HBI medium-term trend chart]
A medium-term downtrend had started on May 10, 2021 at 22.82 and reached 3.85 on May 16, 2023. HBI lost 18.97 points, or 83.13%, in 105 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 2.07 and resistance is at 6.32. A Falling 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 Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a medium-term trend.
 Weekly Technical Indicators: [See HBI weekly technical indicators chart]
Weekly Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Lane's Stochastic or strongly oversold weekly Williams' Percentage Range. During the last week, weekly 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since March 31, 2023. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.
Short-term trend: [See HBI short-term trend chart]
A short-term downtrend had started on April 3, 2023 at 5.30 and reached 3.85 on May 16, 2023. HBI lost 1.45 points, or 27.36%, in 43 days. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 3.51 and resistance is at 5.28. Use the following link to access a Broadening Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See HBI 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.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
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.
 Candlestick pattern: [See HBI candlestick chart pattern]
On Friday the chart has formed a Bearish Downside Tasuki Gap Candlestick pattern. This is a rare continuation formation that appears in a strongly downward moving market. The reliability of the Bearish Downside Tasuki Gap pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Downside Tasuki Gap Candlestick pattern during the last week.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Consumer Discretionary |
7 |
| Industry |
Apparel, Accessories & Luxury Goods |
31 |
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| Daily Trend |
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Channel |
| Low |
3.85 |
| Low Date |
05/16/2023 |
| High |
4.39 |
| High Date |
05/23/2023 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Broadening Right-Angled, Descending Wedge |
| Status |
Valid |
| Resistance |
5.28 |
| Support |
3.51 |
| High |
5.30 |
| High Date |
04/03/2023 |
| Low |
3.85 |
| Low Date |
05/16/2023 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Falling Channel |
| Status |
Valid |
| Resistance |
4.61 |
| Support |
3.73 |
| High |
8.80 |
| High Date |
02/01/2023 |
| Low |
3.85 |
| Low Date |
05/16/2023 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Falling Channel |
| Status |
Valid |
| Resistance |
6.32 |
| Support |
2.07 |
| High |
22.82 |
| High Date |
05/10/2021 |
| Low |
3.85 |
| Low Date |
05/16/2023 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Broadening Right-Angled, Descending Wedge |
| Status |
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| Resistance |
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| Support |
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| High |
129.46 |
| High Date |
03/02/2015 |
| Low |
3.85 |
| Low Date |
05/16/2023 |
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