The Greedy Trader Weekly Analysis
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Quarterly Pattern:Symmetric Triangle
Number of records: 10
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Symmetric Triangle Chart Pattern Analysis - Symmetric Triangle Pattern.

A symmetric triangle pattern represents the area of indecision where the movement direction is questioned. Chart Pattern Analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of a larger trend, but it may also mark the trend reversal. Volume diminishes during the formation and explodes at the breakout. After breakout (similar to rectangle), support may turn into potential resistance and vice versa.
Tips:
# 1 As a continuation pattern, the symmetric triangle usually appears within a young trend characterized by neutral long-term indicators and overbought/oversold short-term indicators. The symmetric triangle resets short-term indicators to neutral and then continues movement in parent's direction.
# 2 As a reversal formation, the symmetric triangle chart 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. For the best results, the symmetric triangle pattern should be considered together with other chart pattern analysis, technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance line.

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- 5/17/2024 -
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International Flav/Frag (IFF) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken uptrend resistance line - uptrend exhaustionLane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtPrice is near the Fibonacci 38.2% retracement level
Daily :Relative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overboughtLane's Stochastic and MACD bearish divergence
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It was a sixth consecutive positive week for the International Flav/Frag (IFF). During the week, the IFF gained 2.51 points, or 2.58%, and closed at 99.69 on Friday, May 17, 2024. Weekly volume was -26% below average.

IFF is a member of Materials Sector. Materials 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 IFF long-term trend chart]
A long-term downtrend had started on August 11, 2021 at 157.08 and reached 62.11 on August 18, 2023. IFF lost 94.97 points, or 60.46%, in 105 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Medium-term trend: [See IFF medium-term trend chart]
A medium-term uptrend had started on August 18, 2023 at 62.11 and reached 99.83 on May 17, 2024. IFF gained -37.72 points, or -60.73%, in 39 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (78.49) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 medium-term trend.

Weekly Technical Indicators: [See IFF 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 October 13, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See IFF short-term trend chart]
A short-term uptrend had started on April 15, 2024 at 81.75 and reached 99.83 on May 17, 2024. IFF gained -18.08 points, or -22.12%, in 32 days. Price is near the trend high.

Daily Technical Indicators: [See IFF daily technical indicators chart]
Daily Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index or strongly overbought daily Williams' Percentage Range and Lane's Stochastic. Daily 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 daily 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. Use the following link to access Relative Strength Index help.

The daily MACD line is above its signal line since May 2, 2024. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 85.34
Overbought
Williams' Percentage Range (W%R) 9.80
Strong Overbought
Lane's Stochastic (%D-Slow) 91.26
Strong Overbought Bearish
Greed/Fear Indicator (GFI) 88.93
Overbought
Moving Average Converg./Diverg. (MACD) 3.03 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 77.68
Williams' Percentage Range (W%R) 6.20
Strong Overbought
Lane's Stochastic (%D-Slow) 85.66
Overbought
Greed/Fear Indicator (GFI) 81.42
Overbought
Moving Average Converg./Diverg. (MACD) 2.06
Trading Signals
Description Value Chart
Upper Bollinger Band 103.77
Price 99.69
Daily Stochastic Crossing 99.40
Weekly Stochastic Crossing 97.86
Parabolic System 96.22
20 Day Moving Average 90.69
Monthly Trendline Resistance 90.43
50 Day Moving Average 86.43
Lower Bollinger Band 80.37
Sector and Industry
Description Name Rank
Sector Materials 10
Industry Specialty Chemicals 63
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 95.66
Low Date 05/15/2024
High 99.83
High Date 05/17/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 81.75
Low Date 04/15/2024
High 99.83
High Date 05/17/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 90.43
Support 78.49
Low 62.11
Low Date 08/18/2023
High 99.83
High Date 05/17/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 157.08
High Date 08/11/2021
Low 62.11
Low Date 08/18/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 157.40
High Date 01/17/2018
Low 62.11
Low Date 08/18/2023
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.