The Greedy Trader Weekly Analysis
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Monthly Pattern:Falling Pennant
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Chart Analysis and Chart Pattern Recognition – Bear Flag, Bull Flag, Bearish Pennant and Bullish Pennant.


Bear flag, bull flag, bearish pennant and bullish pennant chart patterns represent brief pauses after sharp moves in a dynamic market. They are considered as most reliable continuation patterns. Flags are characterized as short-term channels slanting against the main trend. Pennants represent short-term triangle formations. Volume is heavy during the sharp move preceding the formation.
Trading technique:
# 1 Flags and pennants present an additional opportunity to enter the dynamic market.
Tips:
# 1
Usually flags and pennants represent short-term pauses technically required to reset overbought/oversold technical indicators and allow further movement. They likely to appear at earlier stages of the larger patterns, when short-term technical indicators are grossly overbought/oversold, but long-term indicators are in the middle range. In a situation when both long and short-term indicators are overbought (oversold), flags and pennants have more chances to become the beginning of a larger formation. Flags and pennants are considered invalid as soon as they break the parent's formation trend line.
# 2 As a continuation pattern, rectangle usually appears within a young trend characterized by neutral long-term indicators and overbought/oversold short-term indicators. Rectangle resets daily CTI to neutral and then continues the movement in parent's direction.
# 3 For the best results, chart patterns should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: projected support/resistance level of larger trend.

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- 3/28/2024 -
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Masco Corp. (MAS) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken uptrend resistance line - uptrend exhaustionLane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtRelative Strength Index and MACD bearish divergence
Daily :Williams' Percentage Range is overboughtDaily  MACD line has moved above its signal lineThe price is above the upper Bollinger Band
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It was a second consecutive positive week for the Masco Corp. (MAS). During the week, the MAS gained 1.78 points, or 2.31%, and closed at 78.88 on Thursday, March 28, 2024. MAS was trading at average weekly trading volume.

MAS is a member of Industrials Sector. Industrials 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 MAS long-term trend chart]
A long-term uptrend had started on October 26, 2022 at 42.33 and reached 78.94 on March 28, 2024. MAS gained -36.61 points, or -86.49%, in 74 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (50.44) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 MAS medium-term trend chart]
A medium-term uptrend had started on October 25, 2023 at 47.66 and reached 78.94 on March 28, 2024. MAS gained -31.28 points, or -65.63%, in 22 weeks. Price is near the trend high.

Weekly Technical Indicators: [See MAS weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Weekly Relative Strength Index and MACD have bearish divergence. Use the following links to access the Relative Strength Index and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index and 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. 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 November 17, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See MAS short-term trend chart]
A short-term uptrend had started on March 26, 2024 at 75.96 and reached 78.94 on March 28, 2024. MAS gained -2.98 points, or -3.92%, in 2 days. Price is near the trend high.

Daily Technical Indicators: [See MAS daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range.

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

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.34
Williams' Percentage Range (W%R) 16.70
Overbought
Lane's Stochastic (%D-Slow) 74.61
Greed/Fear Indicator (GFI) 71.74
Moving Average Converg./Diverg. (MACD) 1.04
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 73.76
Bearish
Williams' Percentage Range (W%R) 4.30
Strong Overbought
Lane's Stochastic (%D-Slow) 86.21
Overbought
Greed/Fear Indicator (GFI) 81.34
Overbought
Moving Average Converg./Diverg. (MACD) 4.43 Bearish
Trading Signals
Description Value Chart
Price 78.88
Upper Bollinger Band 78.82
Daily Stochastic Crossing 77.69
Weekly Stochastic Crossing 77.08
20 Day Moving Average 76.32
Parabolic System 74.41
Yearly Trendline Resistance 73.34
Lower Bollinger Band 73.24
50 Day Moving Average 73.24
Sector and Industry
Description Name Rank
Sector Industrials 10
Industry Building Products 92
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 75.96
Low Date 03/26/2024
High 78.94
High Date 03/28/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 75.96
Low Date 03/26/2024
High 78.94
High Date 03/28/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 72.61
Low Date 03/15/2024
High 78.94
High Date 03/28/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 47.66
Low Date 10/25/2023
High 78.94
High Date 03/28/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 73.34
Support 50.44
Low 42.33
Low Date 10/26/2022
High 78.94
High Date 03/28/2024
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.