The Greedy Trader Weekly Analysis
Sign In May 17, 2024
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Weekly Pattern:Falling Channel
Number of records: 8
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Channeling Stock - rising channel and falling channel.

Stock channeling technique is one of the most efficient and widely used trading technique. Price channel represents price movement bound by parallel lower (support) and upper (resistance) trend lines. Channels with rising trend lines (rising channel) are considered bullish and the falling channel is considered as bearish . Channels are continuation formations as far as support and resistance are not broken.
Trading technique:
# 1
Buy channeling stock on support and sell on resistance.
# 2 For bullish channel: sell channeling stock when price breakes the stock channeling support line. For bearish channel: buy channeling stock when price breaks the resistance line.
Tips:
# 1 For the best results, stock channeling 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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- 5/10/2024 -
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Estee Lauder (EL) Technical Analysis

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Summary:
Weekly :Broken trend support line
Daily :
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It was the negative week for the Estee Lauder (EL). During the week, the EL gave back -0.94 points, or -0.71%, and closed at 132.00 on Friday, May 10, 2024. EL was trading at average weekly trading volume.

Long-term trend: [See EL long-term trend chart]
A long-term downtrend had started on February 2, 2023 at 283.62 and reached 102.22 on November 1, 2023. EL lost 181.40 points, or 63.96%, in 38 weeks. The price is now at the 16.42% retracement level.

Medium-term trend: [See EL medium-term trend chart]
A medium-term uptrend had started on November 1, 2023 at 102.22 and reached 159.75 on February 5, 2024. EL gained -57.53 points, or -56.28%, in 13 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (158.52) is broken. A broken support is considered to be a long-term bearish 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 support in a medium-term trend.

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

The weekly MACD line is above its signal line since December 1, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See EL short-term trend chart]
A short-term downtrend had started on April 23, 2024 at 149.91 and reached 124.03 on May 1, 2024. EL lost 25.88 points, or 17.26%, in 8 days. The price is now at the 30.80% retracement level.

Daily Technical Indicators: [See EL daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since April 30, 2024. This is an indication that the short-term trend is down.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 32.32
Williams' Percentage Range (W%R) 70.30
Lane's Stochastic (%D-Slow) 26.15
Greed/Fear Indicator (GFI) 29.38
Moving Average Converg./Diverg. (MACD) -2.85
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.59
Williams' Percentage Range (W%R) 78.50
Lane's Stochastic (%D-Slow) 31.23
Greed/Fear Indicator (GFI) 33.12
Moving Average Converg./Diverg. (MACD) -3.82
Trading Signals
Description Value Chart
Upper Bollinger Band 152.53
Parabolic System 144.41
50 Day Moving Average 144.07
20 Day Moving Average 138.96
Weekly Stochastic Crossing 133.71
Price 132.00
Daily Stochastic Crossing 128.55
Lower Bollinger Band 123.00
Sector and Industry
Description Name Rank
Sector Consumer Staples 7
Industry Personal Products 67
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 149.91
High Date 04/23/2024
Low 124.03
Low Date 05/01/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 159.75
High Date 02/05/2024
Low 124.03
Low Date 05/01/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 178.25
Support 158.52
Low 102.22
Low Date 11/01/2023
High 159.75
High Date 02/05/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 283.62
High Date 02/02/2023
Low 102.22
Low Date 11/01/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 374.20
High Date 01/03/2022
Low 102.22
Low Date 11/01/2023
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.