The Greedy Trader Weekly Analysis
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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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Humana Inc. (HUM) Technical Analysis

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Summary:
Weekly :Relative Strength Index and Lane's Stochastic oversoldWilliams' Percentage Range is strongly oversoldTrend support at 346.60
Daily :Stochastic signal line moved above oversold areaThe price has risen above the Parabolic SAR
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It was a first positive week after 5 consecutive negative weeks for the Humana Inc. (HUM). During the week, the HUM gained 8.80 points, or 2.59%, and closed at 348.15 on Friday, March 15, 2024. Weekly volume was -19% below average.

Long-term trend: [See HUM long-term trend chart]
A long-term uptrend had started on March 5, 2009 at 18.57 and reached 571.30 on November 3, 2022. HUM gained -552.73 points, or -2976.47%, in 713 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 279.04 and resistance is at 531.27. 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 HUM medium-term trend chart]
A medium-term downtrend had started on November 3, 2022 at 571.30 and reached 334.54 on March 7, 2024. HUM lost 236.76 points, or 41.44%, in 70 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend support (346.60) 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 HUM weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Relative Strength Index and Lane's Stochastic or strongly oversold weekly Williams' Percentage Range. 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 below its signal line since December 8, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.

Short-term trend: [See HUM short-term trend chart]
A short-term downtrend had started on November 27, 2023 at 527.18 and reached 334.54 on March 7, 2024. HUM lost 192.64 points, or 36.54%, in 101 days. The chart has formed a Falling Channel chart pattern. The trend support level is at 324.68 and resistance is at 360.29. 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 short-term trend.

Daily Technical Indicators: [See HUM daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal.

The daily MACD line is above its signal line since February 7, 2024. The distance between MACD and the signal line is low, but getting bigger.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 37.98
Williams' Percentage Range (W%R) 65.00
Lane's Stochastic (%D-Slow) 63.66
Greed/Fear Indicator (GFI) 45.55
Moving Average Converg./Diverg. (MACD) -12.21
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 16.04
Oversold
Williams' Percentage Range (W%R) 93.60
Strong Oversold
Lane's Stochastic (%D-Slow) 10.99
Oversold
Greed/Fear Indicator (GFI) 16.70
Oversold
Moving Average Converg./Diverg. (MACD) -25.56
Trading Signals
Description Value Chart
50 Day Moving Average 381.01
Upper Bollinger Band 374.08
Weekly Trendline Resistance 360.29
20 Day Moving Average 352.36
Price 348.15
Quarterly Trendline Support 346.60
Daily Stochastic Crossing 345.97
Weekly Stochastic Crossing 342.16
Parabolic System 334.88
Lower Bollinger Band 333.36
Weekly Trendline Support 324.68
Yearly Trendline Support 279.04
Sector and Industry
Description Name Rank
Sector Health Care 6
Industry Managed Health Care 26
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 334.54
Low Date 03/07/2024
High 351.36
High Date 03/13/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 360.29
Support 324.68
High 527.18
High Date 11/27/2023
Low 334.54
Low Date 03/07/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 530.54
High Date 10/17/2023
Low 334.54
Low Date 03/07/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Test Support
Resistance 509.78
Support 346.60
High 571.30
High Date 11/03/2022
Low 334.54
Low Date 03/07/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 531.27
Support 279.04
Low 18.57
Low Date 03/05/2009
High 571.30
High 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.