The Greedy Trader Weekly Analysis
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Daily RSI:> 90
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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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iShares Dow Jones US Real Estate (IYR) Technical Analysis

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Summary:
Weekly :Broken trend resistance line
Daily :Stochastic has declined below the signal lineDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SAR20 Day Moving Average has crossed above the 50 Day Moving AverageThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the iShares Dow Jones US Real Estate (IYR). During the week, the IYR dropped -2.61 points, or -2.87%, and closed at 88.24 on Friday, March 15, 2024. It was the worst weekly loss since October 20, 2023. Weekly volume was -17% below average.

Long-term trend: [See IYR long-term trend chart]
A long-term downtrend had started on December 31, 2021 at 116.89 and reached 72.88 on October 30, 2023. IYR lost 44.01 points, or 37.65%, in 95 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (71.88) 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 long-term trend.

Medium-term trend: [See IYR medium-term trend chart]
A medium-term uptrend had started on October 30, 2023 at 72.88 and reached 92.85 on December 14, 2023. IYR gained -19.97 points, or -27.40%, in 6 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 87.71 and resistance is at 91.09. 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 medium-term trend.

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

The weekly MACD line is above its signal line since November 17, 2023. 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 IYR short-term trend chart]
A short-term downtrend had started on March 11, 2024 at 91.20 and reached 87.53 on March 15, 2024. IYR lost 3.67 points, or 4.02%, in 4 days. The price is now at the 19.35% retracement level.

Daily Technical Indicators: [See IYR daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish 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. Use the following link to access Lane's Stochastic help.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

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.

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 20 Day Moving Average 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) 58.31
Williams' Percentage Range (W%R) 72.20
Lane's Stochastic (%D-Slow) 51.55
Greed/Fear Indicator (GFI) 45.89
Moving Average Converg./Diverg. (MACD) 0.50
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.52
Williams' Percentage Range (W%R) 26.10
Lane's Stochastic (%D-Slow) 51.79
Greed/Fear Indicator (GFI) 57.57
Moving Average Converg./Diverg. (MACD) 1.16
Trading Signals
Description Value Chart
Monthly Trendline Resistance 91.80
Monthly Trendline Support 91.60
Upper Bollinger Band 91.44
Quarterly Trendline Resistance 91.09
Parabolic System 90.89
Daily Stochastic Crossing 89.12
20 Day Moving Average 88.69
50 Day Moving Average 88.30
Weekly Stochastic Crossing 88.29
Price 88.24
Quarterly Trendline Support 87.71
Lower Bollinger Band 86.22
Yearly Trendline Resistance 74.61
Yearly Trendline Support 71.88
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 91.20
High Date 03/11/2024
Low 87.53
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 91.20
High Date 03/11/2024
Low 87.53
Low Date 03/15/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 91.80
Support 91.60
Low 84.24
Low Date 02/13/2024
High 91.20
High Date 03/11/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Valid
Resistance 91.09
Support 87.71
Low 72.88
Low Date 10/30/2023
High 92.85
High Date 12/14/2023
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 74.61
Support 71.88
High 116.89
High Date 12/31/2021
Low 72.88
Low Date 10/30/2023
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.