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.

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- 3/15/2024 -
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Genuine Parts (GPC) Technical Analysis

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Summary:
Weekly :Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overboughtTrend resistance at 151.02
Daily :Lane's Stochastic and MACD bearish divergenceThe price has fallen below the Parabolic SAR
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It was a fourth consecutive positive week for the Genuine Parts (GPC). During the week, the GPC gained 2.70 points, or 1.79%, and closed at 153.66 on Friday, March 15, 2024. GPC was trading at average weekly trading volume.

Long-term trend: [See GPC long-term trend chart]
A long-term uptrend had started on March 9, 2009 at 24.93 and reached 187.73 on December 2, 2022. GPC gained -162.80 points, or -653.03%, in 716 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 137.83 and resistance is at 200.39. 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.

Medium-term trend: [See GPC medium-term trend chart]
A medium-term downtrend had started on December 2, 2022 at 187.73 and reached 126.35 on October 30, 2023. GPC lost 61.38 points, or 32.70%, in 47 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (151.02). 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 medium-term trend.

Weekly Technical Indicators: [See GPC weekly technical indicators chart]
Weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index, 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, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since December 15, 2023. The distance between MACD and the signal line is near its high and getting bigger. Use the following link to access a MACD help.

Short-term trend: [See GPC short-term trend chart]
A short-term uptrend had started on February 15, 2024 at 135.00 and reached 154.91 on March 13, 2024. GPC gained -19.91 points, or -14.75%, in 27 days. The price is now at the 6.28% retracement level.

Daily Technical Indicators: [See GPC daily technical indicators chart]
Daily technical indicators are neutral. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.

The daily MACD line is above its signal line since February 16, 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.

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) 67.61
Williams' Percentage Range (W%R) 28.10
Lane's Stochastic (%D-Slow) 79.18
Bearish
Greed/Fear Indicator (GFI) 72.89
Moving Average Converg./Diverg. (MACD) 2.46 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 89.17
Overbought
Williams' Percentage Range (W%R) 13.50
Overbought
Lane's Stochastic (%D-Slow) 88.20
Overbought
Greed/Fear Indicator (GFI) 78.51
Moving Average Converg./Diverg. (MACD) -2.55
Trading Signals
Description Value Chart
Upper Bollinger Band 155.80
Parabolic System 155.06
Price 153.66
Daily Stochastic Crossing 153.55
Weekly Stochastic Crossing 152.79
Quarterly Trendline Resistance 151.02
20 Day Moving Average 149.59
Monthly Trendline Resistance 147.89
Monthly Trendline Support 144.79
50 Day Moving Average 144.49
Lower Bollinger Band 143.48
Yearly Trendline Support 137.83
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 7
Industry Specialty Stores 110
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 135.00
Low Date 02/15/2024
High 154.91
High Date 03/13/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 135.00
Low Date 01/04/2024
High 154.91
High Date 03/13/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 147.89
Support 144.79
Low 126.35
Low Date 10/30/2023
High 154.91
High Date 03/13/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Test Resistance
Resistance 151.02
Support 112.84
High 187.73
High Date 12/02/2022
Low 126.35
Low Date 10/30/2023
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 200.39
Support 137.83
Low 24.93
Low Date 03/09/2009
High 187.73
High Date 12/02/2022
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.