The Greedy Trader Weekly Analysis
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- 3/15/2024 -
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Interpublic Group (IPG) Technical Analysis

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Summary:
Weekly :MACD bearish divergenceBroken trend resistance lineTrend support at 32.98
Daily :A Parabolic SAR indicator is above and near the pricePrice has crossed above the 50 Day Moving AverageThe price is close to the moving average in the center of the Bollinger Bands
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It was a second consecutive positive week for the Interpublic Group (IPG). During the week, the IPG climbed 0.13 points, or 0.40%, and closed at 32.39 on Friday, March 15, 2024. Weekly volume was 65% above average.

Long-term trend: [See IPG long-term trend chart]
A long-term uptrend had started on March 23, 2020 at 11.63 and reached 40.95 on June 14, 2023. IPG gained -29.32 points, or -252.11%, in 168 weeks. The chart has formed a Rising Wedge chart pattern. The price is near the trend support (32.98) 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 IPG medium-term trend chart]
A medium-term downtrend had started on June 14, 2023 at 40.95 and reached 27.20 on October 20, 2023. IPG lost 13.75 points, or 33.58%, in 18 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (31.67) is broken. A broken support is considered to be a long-term bullish signal. 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 medium-term trend.

Weekly Technical Indicators: [See IPG weekly technical indicators chart]
Weekly technical indicators are neutral. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly MACD bearish 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.

The weekly MACD line is above its signal line since November 24, 2023. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.

Short-term trend: [See IPG short-term trend chart]
A short-term uptrend had started on March 1, 2024 at 30.86 and reached 35.17 on March 14, 2024. IPG gained -4.31 points, or -13.97%, in 13 days. The price is now at the 64.50% retracement level.

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

The daily MACD line is above its signal line since March 6, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.

A Parabolic SAR (stop and reversal) indicator (32.15) comes close to the price (32.39). 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.

The price is close to 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 advanced above the 50 Day Moving Average. Such crossover is considered a bullish 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) 51.01
Williams' Percentage Range (W%R) 62.90
Lane's Stochastic (%D-Slow) 60.04
Greed/Fear Indicator (GFI) 49.39
Moving Average Converg./Diverg. (MACD) 0.02
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.69
Williams' Percentage Range (W%R) 35.50
Lane's Stochastic (%D-Slow) 50.52
Greed/Fear Indicator (GFI) 54.76
Moving Average Converg./Diverg. (MACD) -0.23 Bearish
Trading Signals
Description Value Chart
Daily Stochastic Crossing 33.31
Upper Bollinger Band 33.25
Weekly Stochastic Crossing 33.05
Yearly Trendline Support 32.98
Price 32.39
50 Day Moving Average 32.34
20 Day Moving Average 32.26
Parabolic System 32.15
Quarterly Trendline Resistance 32.07
Quarterly Trendline Support 31.67
Lower Bollinger Band 31.41
Sector and Industry
Description Name Rank
Sector Communication Services 5
Industry Advertising 48
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 30.86
Low Date 03/01/2024
High 35.17
High Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 30.60
Low Date 02/09/2024
High 35.17
High Date 03/14/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 27.20
Low Date 10/20/2023
High 35.17
High Date 03/14/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 32.07
Support 31.67
High 40.95
High Date 06/14/2023
Low 27.20
Low Date 10/20/2023
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Test Support
Resistance 41.49
Support 32.98
Low 11.63
Low Date 03/23/2020
High 40.95
High Date 06/14/2023
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.