The Greedy Trader Weekly Analysis
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Quarterly 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
- 5/11/2018
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S&P 500
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Summary:
Weekly :Broken trend support lineBroken trend resistance line
Daily :Williams' Percentage Range and Lane's Stochastic are strongly overboughtDaily  MACD line has moved above its signal linePrice has crossed above the 50 Day Moving AverageBroken trend resistance lineThe price touches the upper Bollinger Band
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It was a first positive week for the S&P 500 (^GSPC). During the week, the ^GSPC gained 64.30 points, or 2.41%, and closed at 2727.72 on Friday, May 11, 2018. It was the best weekly gain since March 9, 2018. ^GSPC was trading at average weekly trading volume.

Long-term trend: [See ^GSPC long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 666.79 and reached 2872.87 on January 26, 2018. ^GSPC gained -2206.08 points, or -330.85%, in 464 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (2257.95) 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 2872.87 on January 26, 2018. ^GSPC gained -1062.77 points, or -58.71%, in 102 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (2753.03) 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 ^GSPC weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since February 9, 2018. 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 April 18, 2018 at 2717.49 and reached 2594.62 on May 3, 2018. ^GSPC lost 122.87 points, or 4.52%, in 15 days. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (2565.36) 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. ^GSPC 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 ^GSPC 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.

The price touches the upper Bollinger Band. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

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) 62.81
Williams' Percentage Range (W%R) 7.30
Strong Overbought
Lane's Stochastic (%D-Slow) 93.15
Strong Overbought
Greed/Fear Indicator (GFI) 82.87
Overbought
Moving Average Converg./Diverg. (MACD) -0.23
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 47.97
Williams' Percentage Range (W%R) 44.10
Lane's Stochastic (%D-Slow) 47.05
Greed/Fear Indicator (GFI) 51.33
Moving Average Converg./Diverg. (MACD) 36.52
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 2898.60
Monthly Trendline Resistance 2799.42
Quarterly Trendline Support 2753.03
Upper Bollinger Band 2730.90
Price 2727.72
Daily Stochastic Crossing 2725.20
50 Day Moving Average 2677.67
20 Day Moving Average 2673.10
Weekly Trendline Resistance 2655.14
Weekly Stochastic Crossing 2654.25
Parabolic System 2632.81
Lower Bollinger Band 2618.08
Yearly Trendline Resistance 2594.78
Weekly Trendline Support 2565.36
Monthly Trendline Support 2448.57
Yearly Trendline Support 2257.95
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 2594.62
Low Date 05/03/2018
High 2732.86
High Date 05/11/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 2655.14
Support 2565.36
High 2717.49
High Date 04/18/2018
Low 2594.62
Low Date 05/03/2018
Description Value
Direction Down
Chart Pattern Rectangle
Status Valid
Resistance 2799.42
Support 2448.57
High 2872.87
High Date 01/26/2018
Low 2532.69
Low Date 02/09/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 2898.60
Support 2753.03
Low 1810.10
Low Date 02/11/2016
High 2872.87
High Date 01/26/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 2594.78
Support 2257.95
Low 666.79
Low Date 03/06/2009
High 2872.87
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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