The Greedy Trader Weekly Analysis
Sign In Mar 22, 2024
Skip Navigation Links
TA Search
Weekly Pattern:Falling Channel
Number of records: 5
Share
Symbol:  

• Symbol Lookup
• View Technical Chart
• Add to Watch List
• Candlestick Patterns
• Stock Technical Indicators
• Stock Trends Analysis
• Market Sector Rank
• Stock Trading Signals

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.

Advanced TA Search

Archive
- 3/15/2024 -
Sign In to see current Signals.

CurrencyShares Australian Dollar Trust (FXA) Technical Analysis

Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :
Daily :A Parabolic SAR indicator is above and near the pricePrice has crossed below the 50 Day Moving AveragePrice is near the Fibonacci 38.2% retracement levelThe price has declined below the moving average in the center of the Bollinger Bands
Move cursor over the icon to see details.

It was the negative week for the CurrencyShares Australian Dollar Trust (FXA). During the week, the FXA gave back -0.56 points, or -0.85%, and closed at 64.98 on Friday, March 15, 2024. Weekly volume was -68% below average.

Long-term trend: [See FXA long-term trend chart]
A long-term downtrend had started on February 25, 2021 at 79.54 and reached 61.39 on October 14, 2022. FXA lost 18.15 points, or 22.82%, in 85 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 62.70 and resistance is at 65.54. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend.

Medium-term trend: [See FXA medium-term trend chart]
A medium-term downtrend had started on December 28, 2023 at 67.93 and reached 63.80 on February 13, 2024. FXA lost 4.13 points, or 6.08%, in 6 weeks. The price is now at the 28.57% retracement level.

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

The weekly MACD line is below its signal line since February 9, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See FXA short-term trend chart]
A short-term uptrend had started on February 13, 2024 at 63.80 and reached 65.78 on March 8, 2024. FXA gained -1.98 points, or -3.10%, in 24 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See FXA daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since February 15, 2024. 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.

A Parabolic SAR (stop and reversal) indicator (64.67) comes close to the price (64.98). It indicates that the trend is getting weaker. 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.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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 crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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) 53.09
Williams' Percentage Range (W%R) 55.00
Lane's Stochastic (%D-Slow) 69.55
Greed/Fear Indicator (GFI) 55.89
Moving Average Converg./Diverg. (MACD) 0.02
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 49.03
Williams' Percentage Range (W%R) 54.80
Lane's Stochastic (%D-Slow) 30.31
Greed/Fear Indicator (GFI) 40.26
Moving Average Converg./Diverg. (MACD) 0.02
Trading Signals
Description Value Chart
Upper Bollinger Band 65.81
Quarterly Trendline Resistance 65.54
Daily Stochastic Crossing 65.51
50 Day Moving Average 65.10
Price 64.98
20 Day Moving Average 64.94
Parabolic System 64.67
Weekly Stochastic Crossing 64.49
Lower Bollinger Band 64.25
Quarterly Trendline Support 62.70
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 63.80
Low Date 02/13/2024
High 65.78
High Date 03/08/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 67.93
High Date 12/28/2023
Low 63.80
Low Date 02/13/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 62.28
Low Date 10/03/2023
High 67.93
High Date 12/28/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Valid
Resistance 65.54
Support 62.70
High 79.54
High Date 02/25/2021
Low 61.39
Low Date 10/14/2022
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 110.99
High Date 07/27/2011
Low 57.50
Low Date 03/18/2020
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.