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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- 4/19/2024 -
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Invesco Ltd. (IVZ) Technical Analysis

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Summary:
Weekly :Overbought sectorWeekly  MACD line has moved below its signal lineBroken trend resistance lineBroken trend support line
Daily :Williams' Percentage Range and Lane's Stochastic are oversoldTrend support at 15.50
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It was a first positive week for the Invesco Ltd. (IVZ). During the week, the IVZ climbed 0.03 points, or 0.20%, and closed at 15.37 on Friday, April 19, 2024. Weekly volume was -34% below average.

IVZ is a member of Financials Sector. Financials 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 IVZ long-term trend chart]
A long-term downtrend had started on June 7, 2021 at 29.71 and reached 12.48 on October 25, 2023. IVZ lost 17.23 points, or 57.99%, in 124 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (12.14) is broken. A broken support is considered to be a long-term bullish signal. 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 long-term trend.

Medium-term trend: [See IVZ medium-term trend chart]
A medium-term uptrend had started on October 25, 2023 at 12.48 and reached 18.28 on January 8, 2024. IVZ gained -5.80 points, or -46.47%, in 10 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (16.40) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. IVZ may retest the broken support line. It is considered to be a resistance line now. 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 support in a medium-term trend.

Weekly Technical Indicators: [See IVZ weekly technical indicators chart]
Weekly technical indicators are neutral.

During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.

Short-term trend: [See IVZ short-term trend chart]
A short-term uptrend had started on February 13, 2024 at 14.91 and reached 17.12 on April 4, 2024. IVZ gained -2.21 points, or -14.82%, in 51 days. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (15.50) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a short-term trend.

Daily Technical Indicators: [See IVZ daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold 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 and Williams' Percentage Range help.

The daily MACD line is below its signal line since April 10, 2024.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 29.41
Williams' Percentage Range (W%R) 84.30
Oversold
Lane's Stochastic (%D-Slow) 13.19
Oversold
Greed/Fear Indicator (GFI) 19.42
Oversold
Moving Average Converg./Diverg. (MACD) -0.03
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 33.04
Williams' Percentage Range (W%R) 62.90
Lane's Stochastic (%D-Slow) 48.83
Greed/Fear Indicator (GFI) 44.67
Moving Average Converg./Diverg. (MACD) 0.11
Trading Signals
Description Value Chart
Weekly Trendline Resistance 17.77
Upper Bollinger Band 17.00
Quarterly Trendline Resistance 16.91
Quarterly Trendline Support 16.40
Weekly Stochastic Crossing 16.14
Parabolic System 16.05
20 Day Moving Average 16.03
50 Day Moving Average 15.77
Weekly Trendline Support 15.50
Price 15.37
Daily Stochastic Crossing 15.18
Lower Bollinger Band 14.58
Yearly Trendline Resistance 13.91
Sector and Industry
Description Name Rank
Sector Financials 9
Industry Asset Management & Custody Banks 58
Daily Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
High 17.12
High Date 04/04/2024
Low 14.95
Low Date 04/16/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Test Support
Resistance 17.77
Support 15.50
Low 14.91
Low Date 02/13/2024
High 17.12
High Date 04/04/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 18.28
High Date 01/08/2024
Low 14.91
Low Date 02/13/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 16.91
Support 16.40
Low 12.48
Low Date 10/25/2023
High 18.28
High Date 01/08/2024
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 13.91
Support 12.14
High 29.71
High Date 06/07/2021
Low 12.48
Low Date 10/25/2023
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.