The Greedy Trader Weekly Analysis
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Monthly Pattern:Falling Pennant
Number of records: 2
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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.

McKesson Corp. (New)
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Summary:
Weekly :Overbought sectorStochastic signal line moved below overbought areaBroken trend resistance lineBroken trend support line
Daily :Relative Strength Index and Lane's Stochastic are oversoldThe period of high volatility of the stock price
Move cursor over the icon to see details.

It was the negative week for the McKesson Corp. (New) (MCK). During the week, the MCK dropped -10.28 points, or -6.46%, and closed at 148.93 on Friday, February 09, 2018. Weekly volume was 38% above average.

MCK is a member of Services Sector. Services 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 MCK long-term trend chart]
A long-term downtrend had started on May 19, 2015 at 243.61 and reached 114.53 on October 28, 2016. MCK lost 129.08 points, or 52.99%, in 75 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (70.30) 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 MCK medium-term trend chart]
A medium-term uptrend had started on October 30, 2017 at 134.25 and reached 178.86 on January 29, 2018. MCK gained -44.61 points, or -33.23%, in 13 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend support line (162.91) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. MCK may retest the broken support line. It is considered to be a resistance line now. 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 support in a medium-term trend.

Weekly Technical Indicators: [See MCK weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. 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.

The weekly MACD line is above its signal line since December 8, 2017. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See MCK short-term trend chart]
A short-term downtrend had started on January 29, 2018 at 178.86 and reached 144.85 on February 9, 2018. MCK lost 34.01 points, or 19.01%, in 11 days. The price is now at the 12.00% retracement level.

Daily Technical Indicators: [See MCK daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Relative Strength Index and Lane's Stochastic. Use the following link to access Relative Strength Index help.

The daily MACD line is below its signal line since January 30, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.

The distance between the Bollinger Bands is 136.36% higher then one year average. It indicates the period of high 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 17.66
Oversold
Williams' Percentage Range (W%R) 78.50
Lane's Stochastic (%D-Slow) 10.20
Oversold
Greed/Fear Indicator (GFI) 16.44
Oversold
Moving Average Converg./Diverg. (MACD) 0.53
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.06
Williams' Percentage Range (W%R) 59.90
Lane's Stochastic (%D-Slow) 72.96
Greed/Fear Indicator (GFI) 55.81
Moving Average Converg./Diverg. (MACD) 1.49
Trading Signals
Description Value Chart
Upper Bollinger Band 179.77
Weekly Stochastic Crossing 168.61
20 Day Moving Average 166.06
Parabolic System 163.07
Monthly Trendline Support 162.91
50 Day Moving Average 160.08
Price 148.93
Daily Stochastic Crossing 148.57
Lower Bollinger Band 142.48
Yearly Trendline Resistance 130.82
Sector and Industry
Description Name Rank
Sector Services 9
Industry Drugs Wholesale 128
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 178.86
High Date 01/29/2018
Low 144.85
Low Date 02/09/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 178.86
High Date 01/29/2018
Low 144.85
Low Date 02/09/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Support
Resistance 185.22
Support 162.91
Low 134.25
Low Date 10/30/2017
High 178.86
High Date 01/29/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 169.29
High Date 06/27/2017
Low 134.25
Low Date 10/30/2017
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 130.82
Support 70.30
High 243.61
High Date 05/19/2015
Low 114.53
Low Date 10/28/2016
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.

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