The Greedy Trader Weekly Analysis
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Weekly Pattern:Rising Channel
Number of records: 10
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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

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- 6/26/2020 -
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Adobe Systems (ADBE)

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Summary:
Weekly :Overbought sectorRelative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly overboughtStochastic has declined below the signal lineTrend resistance at 431.03
Daily :Williams' Percentage Range is overboughtStochastic has declined below the signal lineThe price has fallen below the Parabolic SAR
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It was the negative week for the Adobe Systems (ADBE). During the week, the ADBE gave back -1.09 points, or -0.25%, and closed at 426.92 on Friday, June 26, 2020. Weekly volume was -25% below average.

ADBE is a member of Information Technology Sector. Information Technology is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See ADBE long-term trend chart]
A long-term uptrend had started on December 24, 2018 at 204.95 and reached 446.15 on June 23, 2020. ADBE gained -241.20 points, or -117.69%, in 78 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (431.03). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.

Medium-term trend: [See ADBE medium-term trend chart]
A medium-term uptrend had started on March 18, 2020 at 255.13 and reached 446.15 on June 23, 2020. ADBE gained -191.02 points, or -74.87%, in 13 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 404.35 and resistance is at 431.56. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See ADBE weekly technical indicators chart]
Weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since May 8, 2020. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See ADBE short-term trend chart]
A short-term uptrend had started on April 3, 2020 at 289.73 and reached 446.15 on June 23, 2020. ADBE gained -156.42 points, or -53.99%, in 81 days. The chart has formed a Rising Channel chart pattern.

Daily Technical Indicators: [See ADBE daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal.

The daily MACD line is above its signal line since June 11, 2020. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.47
Williams' Percentage Range (W%R) 15.80
Overbought
Lane's Stochastic (%D-Slow) 79.07
Greed/Fear Indicator (GFI) 75.24
Moving Average Converg./Diverg. (MACD) 15.30
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 90.32
Strong Overbought
Williams' Percentage Range (W%R) 5.30
Strong Overbought
Lane's Stochastic (%D-Slow) 93.55
Strong Overbought
Greed/Fear Indicator (GFI) 84.40
Overbought
Moving Average Converg./Diverg. (MACD) 16.32
Trading Signals
Description Value Chart
Upper Bollinger Band 447.58
Parabolic System 446.60
Weekly Stochastic Crossing 440.09
Daily Stochastic Crossing 437.10
Weekly Trendline Resistance 431.56
Monthly Trendline Resistance 431.03
Price 426.92
20 Day Moving Average 409.72
Weekly Trendline Support 404.35
50 Day Moving Average 379.69
Lower Bollinger Band 374.53
Sector and Industry
Description Name Rank
Sector Information Technology 12
Industry Application Software 121
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Low 289.73
Low Date 04/03/2020
High 446.15
High Date 06/23/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 431.56
Support 404.35
Low 255.13
Low Date 03/18/2020
High 446.15
High Date 06/23/2020
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Test Resistance
Resistance 431.03
Support 276.51
Low 204.95
Low Date 12/24/2018
High 446.15
High Date 06/23/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 22.67
Low Date 08/11/2011
High 446.15
High Date 06/23/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 15.70
Low Date 02/27/2009
High 446.15
High Date 06/23/2020
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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