The Greedy Trader Weekly Analysis
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Monthly Pattern:Rising Channel
Number of records: 15
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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.
channeling stock,stock channeling,rising channel,falling channel,Price Channel
Dow Jones
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Summary:
Weekly :Broken trend resistance line
Daily :Williams' Percentage Range and Lane's Stochastic are strongly overboughtDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARPrice has crossed above the 50 Day Moving AverageBroken trend resistance line
Move cursor over the icon to see details.

It was a first positive week for the Dow Jones (^DJI). During the week, the ^DJI gained 568.66 points, or 2.34%, and closed at 24831.17 on Friday, May 11, 2018. It was the best weekly gain since March 29, 2018. Weekly volume was -8% below average.

Long-term trend: [See ^DJI long-term trend chart]
A long-term uptrend had started on March 9, 2009 at 6440.08 and reached 26616.71 on January 26, 2018. ^DJI gained -20176.63 points, or -313.30%, in 463 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (19044.48) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 ^DJI medium-term trend chart]
A medium-term uptrend had started on August 24, 2015 at 15370.33 and reached 26616.71 on January 26, 2018. ^DJI gained -11246.38 points, or -73.17%, in 126 weeks. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The trend support level is at 15908.34 and resistance is at 27740.84. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Ascending Wedge pattern in a medium-term trend.

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

The weekly MACD line is below its signal line since February 9, 2018. The distance between MACD and the signal line is relatively high, but getting smaller. Use the following link to access a MACD help.

Short-term trend: [See ^DJI short-term trend chart]
A short-term downtrend had started on April 17, 2018 at 24858.97 and reached 23531.31 on May 3, 2018. ^DJI lost 1327.66 points, or 5.34%, in 16 days. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (23316.45) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. ^DJI may retest the broken resistance line. It is considered to be a support 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 resistance line in a short-term trend.

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

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 59.44
Williams' Percentage Range (W%R) 8.20
Strong Overbought
Lane's Stochastic (%D-Slow) 91.96
Strong Overbought
Greed/Fear Indicator (GFI) 81.06
Overbought
Moving Average Converg./Diverg. (MACD) -33.38
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 45.61
Williams' Percentage Range (W%R) 56.80
Lane's Stochastic (%D-Slow) 43.51
Greed/Fear Indicator (GFI) 45.50
Moving Average Converg./Diverg. (MACD) 431.89
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 27740.84
Upper Bollinger Band 24942.65
Price 24831.17
Daily Stochastic Crossing 24782.96
50 Day Moving Average 24421.05
20 Day Moving Average 24381.82
Monthly Trendline Resistance 24254.77
Weekly Stochastic Crossing 24102.47
Weekly Trendline Resistance 24060.58
Lower Bollinger Band 23824.61
Parabolic System 23741.15
Monthly Trendline Support 23331.07
Weekly Trendline Support 23316.45
Yearly Trendline Resistance 22505.58
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 23531.31
Low Date 05/03/2018
High 24868.65
High Date 05/11/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 24060.58
Support 23316.45
High 24858.97
High Date 04/17/2018
Low 23531.31
Low Date 05/03/2018
Description Value
Direction Down
Chart Pattern Ascending Triangle
Status Broken Resistance
Resistance 24254.77
Support 23331.07
High 26616.71
High Date 01/26/2018
Low 23344.52
Low Date 04/02/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Right-Angled, Ascending Wedge
Status Valid
Resistance 27740.84
Support 15908.34
Low 15370.33
Low Date 08/24/2015
High 26616.71
High Date 01/26/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 22505.58
Support 19044.48
Low 6440.08
Low Date 03/09/2009
High 26616.71
High Date 01/26/2018
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.

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