The Greedy Trader Weekly Analysis
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Weekly Pattern:Falling Channel
Number of records: 5
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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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- 3/15/2024 -
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Citizens Financial Group (CFG) Technical Analysis

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is overboughtMACD bearish divergence
Daily :Stochastic has declined below the signal lineThe price has fallen below the Parabolic SAR
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It was the negative week for the Citizens Financial Group (CFG). During the week, the CFG dropped -0.83 points, or -2.42%, and closed at 33.49 on Friday, March 15, 2024. Weekly volume was -23% below average.

CFG is a member of Financials Sector. Financials 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 CFG long-term trend chart]
A long-term downtrend had started on January 18, 2022 at 57.00 and reached 22.77 on October 27, 2023. CFG lost 34.23 points, or 60.05%, in 92 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 19.31 and resistance is at 36.04. A Falling 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 Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a long-term trend.

Medium-term trend: [See CFG medium-term trend chart]
A medium-term uptrend had started on February 13, 2024 at 30.24 and reached 34.78 on March 8, 2024. CFG gained -4.54 points, or -15.01%, in 3 weeks. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The trend support level is at 30.40 and resistance is at 35.63. 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 CFG weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 10, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.

Short-term trend: [See CFG short-term trend chart]
A short-term downtrend had started on March 8, 2024 at 34.78 and reached 32.93 on March 14, 2024. CFG lost 1.85 points, or 5.32%, in 6 days. The price is now at the 30.27% retracement level.

Daily Technical Indicators: [See CFG daily technical indicators chart]
Daily technical indicators are neutral. 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. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since February 29, 2024.

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) 73.68
Williams' Percentage Range (W%R) 41.10
Lane's Stochastic (%D-Slow) 72.71
Greed/Fear Indicator (GFI) 68.44
Moving Average Converg./Diverg. (MACD) 0.40
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.93
Williams' Percentage Range (W%R) 15.30
Overbought
Lane's Stochastic (%D-Slow) 48.89
Greed/Fear Indicator (GFI) 61.50
Moving Average Converg./Diverg. (MACD) 0.77 Bearish
Trading Signals
Description Value Chart
Yearly Trendline Resistance 36.04
Monthly Trendline Resistance 35.63
Upper Bollinger Band 35.57
Parabolic System 34.78
Daily Stochastic Crossing 34.19
Price 33.49
Weekly Stochastic Crossing 32.52
50 Day Moving Average 32.41
20 Day Moving Average 32.40
Monthly Trendline Support 30.40
Lower Bollinger Band 30.12
Sector and Industry
Description Name Rank
Sector Financials 11
Industry Regional Banks 46
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 34.78
High Date 03/08/2024
Low 32.93
Low Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 34.78
High Date 03/08/2024
Low 32.93
Low Date 03/14/2024
Description Value
Direction Up
Chart Pattern Broadening Right-Angled, Ascending Wedge
Status Valid
Resistance 35.63
Support 30.40
Low 30.24
Low Date 02/13/2024
High 34.78
High Date 03/08/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 22.77
Low Date 10/27/2023
High 34.78
High Date 03/08/2024
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 36.04
Support 19.31
High 57.00
High Date 01/18/2022
Low 22.77
Low Date 10/27/2023
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.