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
Archive
- 10/12/2018
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S&P 500
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Summary:
Weekly :Stochastic signal line moved below overbought areaWeekly  MACD line has moved below its signal lineBroken trend resistance lineBroken trend support line
Daily :Lane's Stochastic is oversoldPrice has crossed below the 50 Day Moving AveragePrice is near the Fibonacci 23.6% retracement level
Move cursor over the icon to see details.

It was the negative week for the S&P 500 (^GSPC). During the week, the ^GSPC dropped -118.44 points, or -4.10%, and closed at 2767.13 on Friday, October 12, 2018. Weekly volume was 18% above average.

Long-term trend: [See ^GSPC long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 666.79 and reached 2940.91 on September 21, 2018. ^GSPC gained -2274.12 points, or -341.05%, in 498 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (2331.94) 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 ^GSPC medium-term trend chart]
A medium-term uptrend had started on February 11, 2016 at 1810.10 and reached 2940.91 on September 21, 2018. ^GSPC gained -1130.81 points, or -62.47%, in 136 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (2921.47) 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. ^GSPC 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 ^GSPC weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. 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 link to access Lane's Stochastic help.

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 ^GSPC short-term trend chart]
A short-term downtrend had started on September 21, 2018 at 2940.91 and reached 2710.51 on October 11, 2018. ^GSPC lost 230.40 points, or 7.83%, in 20 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See ^GSPC daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic.

The daily MACD line is below its signal line since September 25, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.

During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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) 21.93
Williams' Percentage Range (W%R) 73.90
Lane's Stochastic (%D-Slow) 17.04
Oversold
Greed/Fear Indicator (GFI) 21.68
Moving Average Converg./Diverg. (MACD) -2.86
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 50.90
Williams' Percentage Range (W%R) 64.50
Lane's Stochastic (%D-Slow) 72.83
Greed/Fear Indicator (GFI) 51.94
Moving Average Converg./Diverg. (MACD) 52.85
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 3064.38
Monthly Trendline Resistance 2987.20
Upper Bollinger Band 2977.17
Quarterly Trendline Support 2921.47
20 Day Moving Average 2886.85
50 Day Moving Average 2876.49
Weekly Stochastic Crossing 2872.29
Parabolic System 2867.79
Monthly Trendline Support 2839.72
Price 2767.13
Lower Bollinger Band 2753.67
Daily Stochastic Crossing 2742.89
Yearly Trendline Resistance 2668.76
Yearly Trendline Support 2331.94
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 2939.86
High Date 10/03/2018
Low 2710.51
Low Date 10/11/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 2940.91
High Date 09/21/2018
Low 2710.51
Low Date 10/11/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 2987.20
Support 2839.72
Low 2532.69
Low Date 02/09/2018
High 2940.91
High Date 09/21/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 3064.38
Support 2921.47
Low 1810.10
Low Date 02/11/2016
High 2940.91
High Date 09/21/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 2668.76
Support 2331.94
Low 666.79
Low Date 03/06/2009
High 2940.91
High Date 09/21/2018
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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