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Weekly Pattern:Symmetric Triangle
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- 5/19/2023 -
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PriceChg%DailyWklyDailyWklyDailyWklyMtlyQtlyYrlySectorIndustrySignalsRanksticksList
ADP 216.181.62%58.7243.56 10 102 2 Add to Watch List
AMP 303.873.59%71.4839.88 3 19 2 Add to Watch List
CB 201.180.45%59.1749.65 3 56 1 Downtrend Broken Resist.Add to Watch List
CCL 10.9411.29%80.8457.26 7 95 1 05/18/23	Bullish  Long White Real Body
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CE 107.386.54%77.7638.38 4 66 3 Add to Watch List
CI 255.13-0.56%49.4127.54 9 54 1 Add to Watch List
CTSH 63.012.19%68.7450.53 10 46 05/19/23	Bearish  Dark Cloud Cover
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DAL 35.597.10%74.4547.12 8 55 2 05/18/23	Bullish  Doji
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DBA 20.78-0.24%54.9268.57 1 Add to Watch List
DLR 90.75-6.54%27.5031.94 2 44 1 05/17/23	Bearish  Thrusting
05/16/23	Bearish  Long Red Real Body
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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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