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Weekly Pattern:Rising Wedge
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Rising Wedge Pattern (Ascending Wedge)

Rising Wedge Chart PatternA Rising Wedge pattern also known as Ascending Wedge pattern is one of the most reliable, low-risk, and high-reward chart pattern. A Rising Wedge (Ascending Wedge) pattern is a triangle formation with noticeable slant to the upside. The line that connects the bottoms of the formation represents a support trend line. The resistance trend line connects the formation's tops. The Rising Wedge pattern is valid when the price touched both the support and resistance lines alternatively at least tree times. Unlike the Rising Channel formation, where support and resistance lines are parallel, in a Rising Wedge formation the support line is noticeably steeper than the resistance line. A Rising Wedge represents the loss of the upside momentum and has a bearish bias.

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- 3/15/2024 -
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KeyCorp (KEY) Technical Analysis

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is overbought
Daily :Stochastic signal line moved below overbought areaDaily  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 AverageBullish Meeting Lines CandlestickTrend support at 14.53The price has declined below the moving average in the center of the Bollinger BandsThe period of low volatility of the stock price
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It was the negative week for the KeyCorp (KEY). During the week, the KEY dropped -0.44 points, or -2.95%, and closed at 14.48 on Friday, March 15, 2024. Weekly volume was -32% below average.

KEY is a member of Financials Sector. Financials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See KEY long-term trend chart]
A long-term downtrend had started on January 18, 2022 at 27.17 and reached 8.54 on May 4, 2023. KEY lost 18.63 points, or 68.57%, in 67 weeks. The price is now at the 31.88% retracement level.

Medium-term trend: [See KEY medium-term trend chart]
A medium-term uptrend had started on May 4, 2023 at 8.54 and reached 15.29 on March 7, 2024. KEY gained -6.75 points, or -79.04%, in 44 weeks. The price is now at the 12% retracement level.

Weekly Technical Indicators: [See KEY weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought 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 link to access Williams' Percentage Range help.

The weekly MACD line is above its signal line since July 7, 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 KEY short-term trend chart]
A short-term uptrend had started on February 13, 2024 at 13.25 and reached 15.29 on March 7, 2024. KEY gained -2.04 points, or -15.40%, in 23 days. The chart has formed a Rising Channel chart pattern. The price is near the trend support (14.53) 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 short-term trend.

Daily Technical Indicators: [See KEY daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. 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 distance between the Bollinger Bands is falling, and it was 10.77% on Friday. It is 52.44% lower than one year average. It indicates the period of low volatility of the stock price. 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.

Candlestick pattern: [See KEY candlestick chart pattern]
On Friday the chart has formed a Bullish Meeting Lines Candlestick pattern. This pattern appears during a decline, and it is a sign that a potential bullish reversal is in play. The reliability of the Bullish Meeting Lines Candlestick pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bullish Meeting Lines Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 64.08
Williams' Percentage Range (W%R) 66.00
Lane's Stochastic (%D-Slow) 50.30
Greed/Fear Indicator (GFI) 49.44
Moving Average Converg./Diverg. (MACD) 0.16
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 61.60
Williams' Percentage Range (W%R) 18.50
Overbought
Lane's Stochastic (%D-Slow) 64.94
Greed/Fear Indicator (GFI) 65.98
Moving Average Converg./Diverg. (MACD) 0.62
Trading Signals
Description Value Chart
Weekly Trendline Resistance 15.64
Upper Bollinger Band 15.30
Parabolic System 15.26
Daily Stochastic Crossing 14.69
Weekly Stochastic Crossing 14.63
Weekly Trendline Support 14.53
Price 14.48
20 Day Moving Average 14.47
50 Day Moving Average 14.33
Lower Bollinger Band 13.74
Sector and Industry
Description Name Rank
Sector Financials 11
Industry Regional Banks 46
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 15.29
High Date 03/07/2024
Low 14.22
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Support
Resistance 15.64
Support 14.53
Low 13.25
Low Date 02/13/2024
High 15.29
High Date 03/07/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 9.50
Low Date 10/25/2023
High 15.29
High Date 03/07/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 8.54
Low Date 05/04/2023
High 15.29
High Date 03/07/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 27.17
High Date 01/18/2022
Low 8.54
Low Date 05/04/2023
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.