The Greedy Trader Weekly Analysis
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Comerica Inc.
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Summary:
Weekly :Oversold sectorBroken trend resistance lineTrend support at 84.82
Daily :Broken trend support lineDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARThe price is below the lower Bollinger BandLane's Stochastic bullish divergence
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It was the negative week for the Comerica Inc. (CMA). During the week, the CMA dropped -7.31 points, or -7.94%, and closed at 84.73 on Friday, October 12, 2018. Weekly volume was 13% above average.

CMA is a member of Financial Sector. Financial is the second most oversold 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 CMA long-term trend chart]
A long-term uptrend had started on March 5, 2009 at 11.72 and reached 102.66 on March 12, 2018. CMA gained -90.94 points, or -775.94%, in 470 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (34.94) 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 CMA medium-term trend chart]
A medium-term downtrend had started on March 12, 2018 at 102.66 and reached 82.35 on October 12, 2018. CMA lost 20.31 points, or 19.78%, in 30 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend support (84.82) line. The support is usually stronger when technical indicators are oversold. 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 support line in a medium-term trend.

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

The weekly MACD line is below its signal line since March 23, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term downtrend is strong. Use the following link to access a MACD help.

Short-term trend: [See CMA short-term trend chart]
A short-term downtrend had started on August 21, 2018 at 100.64 and reached 82.35 on October 12, 2018. CMA lost 18.29 points, or 18.17%, in 52 days. The chart has formed a Falling Channel chart pattern. The downtrend support line (87.69) is broken. Usually a broken support is considered to be a long-term bearish 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 support in a short-term trend.

Daily Technical Indicators: [See CMA daily technical indicators chart]
Daily technical indicators are neutral. Daily Lane's Stochastic has bullish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic bullish 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 Lane's Stochastic help.

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

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.

The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 21.56
Williams' Percentage Range (W%R) 65.00
Lane's Stochastic (%D-Slow) 29.24
Bullish
Greed/Fear Indicator (GFI) 28.59
Moving Average Converg./Diverg. (MACD) -1.51
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 41.27
Williams' Percentage Range (W%R) 75.10
Lane's Stochastic (%D-Slow) 24.30
Greed/Fear Indicator (GFI) 30.02
Moving Average Converg./Diverg. (MACD) 1.14 Bullish
Trading Signals
Description Value Chart
Monthly Trendline Resistance 99.79
Upper Bollinger Band 96.46
50 Day Moving Average 95.16
Parabolic System 92.89
Weekly Trendline Resistance 92.22
20 Day Moving Average 91.47
Weekly Trendline Support 87.69
Lower Bollinger Band 86.26
Weekly Stochastic Crossing 85.36
Monthly Trendline Support 84.82
Price 84.73
Daily Stochastic Crossing 84.67
Sector and Industry
Description Name Rank
Sector Financial 2
Industry Regional-Midwest Banks 58
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 93.80
High Date 10/04/2018
Low 82.35
Low Date 10/12/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Support
Resistance 92.22
Support 87.69
High 100.64
High Date 08/21/2018
Low 82.35
Low Date 10/12/2018
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Test Support
Resistance 99.79
Support 84.82
High 102.66
High Date 03/12/2018
Low 82.35
Low Date 10/12/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 30.48
Low Date 02/11/2016
High 102.66
High Date 03/12/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 65.69
Support 34.94
Low 11.72
Low Date 03/05/2009
High 102.66
High Date 03/12/2018
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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