The Greedy Trader Weekly Analysis
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Monthly Pattern:Falling Pennant
Number of records: 3
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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 sector
Daily :Stochastic signal line moved above oversold areaDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price is close to the moving average in the center of the Bollinger Bands
Move cursor over the icon to see details.

It was the negative week for the McKesson Corp. (New) (MCK). During the week, the MCK gave back -0.29 points, or -0.19%, and closed at 148.92 on Friday, May 18, 2018. Weekly volume was -44% below 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 uptrend had started on October 28, 2016 at 114.53 and reached 178.86 on January 29, 2018. MCK gained -64.33 points, or -56.17%, in 65 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 142.63 and resistance is at 183.17. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.

Medium-term trend: [See MCK medium-term trend chart]
A medium-term uptrend had started on March 26, 2018 at 137.10 and reached 160.84 on April 30, 2018. MCK gained -23.74 points, or -17.32%, in 5 weeks. The price is now at the 50.21% retracement level.

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

The weekly MACD line is below its signal line since February 16, 2018. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.

Short-term trend: [See MCK short-term trend chart]
A short-term uptrend had started on May 8, 2018 at 142.57 and reached 151.86 on May 17, 2018. MCK gained -9.29 points, or -6.52%, in 9 days. The price is now at the 31.65% retracement level.

Daily Technical Indicators: [See MCK daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish 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 above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 35.66
Williams' Percentage Range (W%R) 53.40
Lane's Stochastic (%D-Slow) 74.37
Greed/Fear Indicator (GFI) 52.20
Moving Average Converg./Diverg. (MACD) 0.49
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 49.99
Williams' Percentage Range (W%R) 66.50
Lane's Stochastic (%D-Slow) 52.55
Greed/Fear Indicator (GFI) 45.16
Moving Average Converg./Diverg. (MACD) -1.27
Trading Signals
Description Value Chart
Upper Bollinger Band 156.53
Daily Stochastic Crossing 150.16
20 Day Moving Average 149.99
Weekly Stochastic Crossing 149.97
Price 148.92
50 Day Moving Average 147.25
Parabolic System 143.34
Quarterly Trendline Support 142.63
Lower Bollinger Band 141.16
Sector and Industry
Description Name Rank
Sector Services 9
Industry Drugs Wholesale 27
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 142.57
Low Date 05/08/2018
High 151.86
High Date 05/17/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 160.84
High Date 04/30/2018
Low 142.57
Low Date 05/08/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 137.10
Low Date 03/26/2018
High 160.84
High Date 04/30/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 183.17
Support 142.63
Low 114.53
Low Date 10/28/2016
High 178.86
High Date 01/29/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
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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