The Greedy Trader Weekly Analysis
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Weekly RSI:> 80
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Relative Strength Index (RSI Indicator)

The Relative Strength Index is a popular momentum oscillator, developed by Welles Wilder, Jr. It is one of the most widely used technical indicators. Relative Strength Index compares upward vs. downward movements in closing over a selected period. The RSI Indicator fluctuates from 0% to 100%. A stock with RSI Indicator higher than 70% is considered overbought and lower than 30% - oversold. A good rule is to adjust overbought/oversold index range to 80% in bull and to 20% in bear markets. Relative Strength Index can provide an early warning, but not the final signal. It should be used in conjunction with other stock picking techniques. The divergence between RSI Indicator and underlying stock price is the most important signal provided by RSI, and it can be an indication of an impending reversal. Using the RSI divergence (bullish and bearish), chart patterns, trendlines, support, and resistance lines along with the RSI Indicator chart can be very useful.

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- 3/15/2024 -
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Google Inc. (GOOG) Technical Analysis

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Summary:
Weekly :Trend support at 141.28Trend support at 141.28
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtPrice is close to the 50 Day Moving AverageDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week for the Google Inc. (GOOG). During the week, the GOOG gained 5.88 points, or 4.31%, and closed at 142.17 on Friday, March 15, 2024. Weekly volume was 17% above average.

Long-term trend: [See GOOG long-term trend chart]
A long-term downtrend had started on February 2, 2022 at 3042.00 and reached 83.45 on November 3, 2022. GOOG lost 2958.55 points, or 97.26%, in 39 weeks. The chart has formed a Rectangle chart pattern. The price is near the trend support (141.28) 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 long-term trend.

Medium-term trend: [See GOOG medium-term trend chart]
A medium-term uptrend had started on November 3, 2022 at 83.45 and reached 155.20 on January 29, 2024. GOOG gained -71.75 points, or -85.98%, in 64 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend support (141.28) 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 GOOG weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since October 14, 2022. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See GOOG short-term trend chart]
A short-term uptrend had started on March 5, 2024 at 131.55 and reached 144.73 on March 14, 2024. GOOG gained -13.18 points, or -10.02%, in 9 days. The price is now at the 19.42% retracement level.

Daily Technical Indicators: [See GOOG daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily 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.

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

During the last week, the price has moved above 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.

Price is close to the 50 Day Moving Average. While daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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) 56.21
Williams' Percentage Range (W%R) 19.00
Overbought
Lane's Stochastic (%D-Slow) 88.83
Overbought
Greed/Fear Indicator (GFI) 75.33
Moving Average Converg./Diverg. (MACD) -1.68
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.58
Williams' Percentage Range (W%R) 34.90
Lane's Stochastic (%D-Slow) 35.66
Greed/Fear Indicator (GFI) 51.05
Moving Average Converg./Diverg. (MACD) -1.01
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 161.41
Yearly Trendline Resistance 161.35
Upper Bollinger Band 147.78
50 Day Moving Average 143.43
Daily Stochastic Crossing 143.35
Price 142.17
Quarterly Trendline Support 141.28
Yearly Trendline Support 141.28
20 Day Moving Average 139.52
Monthly Trendline Resistance 138.70
Weekly Stochastic Crossing 138.12
Parabolic System 134.29
Lower Bollinger Band 132.92
Monthly Trendline Support 129.03
Sector and Industry
Description Name Rank
Sector Communication Services 5
Industry Interactive Media & Services 52
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 131.55
Low Date 03/05/2024
High 144.73
High Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 131.55
Low Date 03/05/2024
High 144.73
High Date 03/14/2024
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 138.70
Support 129.03
High 155.20
High Date 01/29/2024
Low 131.55
Low Date 03/05/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Support
Resistance 161.41
Support 141.28
Low 83.45
Low Date 11/03/2022
High 155.20
High Date 01/29/2024
Description Value
Direction Down
Chart Pattern Rectangle
Status Test Support
Resistance 161.35
Support 141.28
High 3042.00
High Date 02/02/2022
Low 83.45
Low Date 11/03/2022
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.