Sentences with phrase «uptrend line»

An uptrend line refers to a line on a graph that shows the upward movement or growth of something over time. It indicates that the value or quantity of something is consistently increasing over a period of time. Full definition
Notice how support of last week's low in $ QQQ neatly converges with both the 50 - day moving average (teal line) AND the intermediate - term uptrend line from the November 2012 low (red line).
The bullish features include the placement of a new uptrend line starting from the low near 71 in December 2016.
Although it is bearish that SPY now has a plethora of overhead supply and technical resistance levels to contend with, one potential ray of sunshine in the storm clouds is that SPY is coming into major support of a year - long uptrend line.
At this time the index tested the long term uptrend line as a support level.
The future pattern of rally, retreat and rebound rally will set the first anchor point for a new uptrend line.
As you can see on the chart below, $ SPY is currently trading well above the dominant uptrend line of the current rally:
If you want to know when to expect a major change in market sentiment, I recommend you watch this 5 - year uptrend line closely, as a breakdown below that level could lead to a new bear market in the NASDAQ.
Specifically, the main stock market indexes are not only at key support of major moving averages, but also testing support of important uptrend lines.
Several weeks ago, the spot gold commodity broke down below major support of a multi-year uptrend line.
In addition to key resistance of its 50 - day moving average and prior uptrend line around that price level, there is also resistance from a prior swing low that formed in mid-January (around $ 40).
Since it exhibited relative weakness to the S&P 500 throughout much of 2015, the Russell 2000 is already trading much closer to pivotal support of its long - term uptrend line on the monthly chart.
WTI Crude oil, meanwhile, has slipped down to near key make - or - break territory after Thursday's bearish DOE stats, and will need to rally quickly to avoid undercutting this six - month uptrend line which has been in place since January.
Yet the long - term primary uptrend line that currently sits at 2,570, as of last Friday, continues to be a rising mark of technical support.
As $ P began climbing higher, our plan was to hold the swing trade as long as the price held above the steep uptrend line that formed on the hourly chart (similar to the way we recently trailed a stop to maximize gains on our swing trade of $ SMH).
The pin bar formed right on a very obvious uptrend line that had existed for sometime in the market previously.
This is confirmed with the gap - down behavior and the clear close below the potential uptrend line A (see chart below).
Upon doing so, we see there remains a clear uptrend line, with multiple anchor points along the way, that should also provide support around $ 90 (or slightly higher).
The market moved above the main uptrend line from the daily time frame.
This was an area that held support previously, and of course was just below the major uptrend line.
Depending on how long such a pullback would take to play out, the rising 40 - week moving average (orange line) may also end up converging with support of the weekly uptrend line.
Litecoin try to break above the previous uptrend line that we now see as resistance.
The weekly chart of the NASDAQ below also shows a key uptrend line and an important resistance level.
By comparison, the daily chart of the iShares Russell 2000 Index ETF ($ IWM) shows the recent weakness that has led to a breakdown below three different levels of technical price support: the low of the multi-week trading range (around $ 93), the 20 - day exponential moving average (beige line), AND the dominant uptrend line (which began with the November 2012 low):
As for the weekly chart pattern, QQQ is now trading just below its one - year uptrend line (similar to the one shown on the weekly chart of SPY).
Further, the price of $ SPY must break below support of a multi-year uptrend line, as well as the 10 - month / 200 - day MA, just to pullback to the February swing low:
On our internal watchlist as a potential short sale if it bounces into new resistance of its prior uptrend line, SPDR Gold Trust ($ GLD) could -LSB-...]
For the sake of brevity, we will skip analysis of the Dow Jones SPDR ETF ($ DIA) because both its daily and weekly chart patterns are quite similar to SPY above (broke down firmly below its 50 - day moving average yesterday, and is also coming into support of its year - long uptrend line).
Based on a new swing low we can draw a new uptrend line.
Considering the NASDAQ has recently broken a 17 - month uptrend line and its 10 - week moving average (blue line above) is rolling over, negative price momentum is certainly building.
Since selling off to «undercut» support of its 50 - day moving average two weeks ago, the inversely correlated ProShares UltraShort Euro ($ EUO) has been trading in a tightening, sideways range, holding above support of its primary uptrend line and 50 - day moving average.
As annotated on the chart above, $ UNG is holding support of a steep uptrend line (black dotted line), while the 10 - week MA (teal line) is beginning to pull away from the 40 - week MA (orange line) after the bullish crossover a few weeks ago.
The pin bar formed right on a very obvious uptrend line that had existed for sometime in the market previously.
The third factor is the uptrend line that starts from the anchor point near $ 43 in June 2017.
This trend change is further confirmed with the uptrend line.
This starts from the low of December 2016, but the second anchor point for the uptrend line does not appear until January 2017.
The second feature that contributes to the weakness of the trend behavior is the placement of the uptrend line.
The current value of the uptrend line is near $ 1,305 and that is also near to the value of the lower edge of the long - term trend line.
The third resistance feature is the long term uptrend line that defines the development of the trend in the Shanghai index.
The uptrend rally can continue to move upwards using the uptrend line as a resistance feature.
This support level is created by the uptrend line starting from the low near $ 0.92 in May 2016.
The second resistance feature is the value of the long - term uptrend line.
The uptrend line started in May 2017 and acted as a support feature until November last year.
In August of 2015, the Dow moved below the uptrend line and then in February 2017 it again moved above the trend line.
The first feature on the Dow chart is a long - term uptrend line.
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