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 :Broken trend resistance lineBroken trend resistance lineStochastic signal line moved above oversold area
Daily :Stochastic has declined below the signal lineBroken trend resistance linePrice has crossed above the 50 Day Moving Average
Move cursor over the icon to see details.

It was a fourth consecutive positive week for the McKesson Corp. (New) (MCK). During the week, the MCK gained 1.73 points, or 1.20%, and closed at 146.39 on Friday, December 01, 2017. Weekly volume was 60% above average.

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 (77.93) 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 downtrend had started on June 27, 2017 at 169.29 and reached 134.25 on October 30, 2017. MCK lost 35.04 points, or 20.70%, in 17 weeks. The chart has formed a Falling Pennant chart pattern. The downtrend resistance line (136.69) 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 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 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.

The weekly MACD line is below its signal line since August 11, 2017. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. 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 October 30, 2017 at 134.25 and reached 152.39 on November 29, 2017. MCK gained -18.14 points, or -13.51%, in 30 days. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (136.75) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 short-term trend.

Daily Technical Indicators: [See MCK 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.

The daily MACD line is above its signal line since November 9, 2017. This is an indication that the short-term trend is up.

During the last week, the price 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) 66.14
Williams' Percentage Range (W%R) 30.40
Lane's Stochastic (%D-Slow) 77.61
Greed/Fear Indicator (GFI) 71.12
Moving Average Converg./Diverg. (MACD) -0.28
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.95
Williams' Percentage Range (W%R) 63.10
Lane's Stochastic (%D-Slow) 22.71
Greed/Fear Indicator (GFI) 35.18
Moving Average Converg./Diverg. (MACD) -2.12
Trading Signals
Description Value Chart
Upper Bollinger Band 152.03
Daily Stochastic Crossing 149.00
Price 146.39
50 Day Moving Average 145.80
Weekly Trendline Resistance 143.68
Weekly Stochastic Crossing 141.61
20 Day Moving Average 141.61
Parabolic System 140.53
Yearly Trendline Resistance 138.46
Weekly Trendline Support 136.75
Quarterly Trendline Support 136.69
Monthly Trendline Support 136.69
Lower Bollinger Band 135.51
Sector and Industry
Description Name Rank
Sector Services 4
Industry Drugs Wholesale 15
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 134.78
Low Date 11/06/2017
High 152.39
High Date 11/29/2017
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 143.68
Support 136.75
Low 134.25
Low Date 10/30/2017
High 152.39
High Date 11/29/2017
Description Value
Direction Down
Chart Pattern Ascending Triangle
Status Broken Resistance
Resistance 116.15
Support 136.69
High 143.63
High Date 10/27/2017
Low 134.25
Low Date 10/30/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Pennant
Status Broken Resistance
Resistance 116.15
Support 136.69
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 138.46
Support 77.93
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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