The Greedy Trader Weekly Analysis
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Monthly Pattern:Falling Pennant
Number of records: 0
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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 sectorLane's Stochastic bullish divergencePrice is near the Fibonacci 23.6% retracement levelPrice is near the Fibonacci 61.8% retracement level
Daily :Lane's Stochastic is overboughtPrice has crossed above the 50 Day Moving AverageDaily  MACD line has moved above its signal linePrice is near the Fibonacci 23.6% retracement levelThe price moved above the moving average in the center of the Bollinger Bands
Move cursor over the icon to see details.

It was a second consecutive positive week for the McKesson Corp. (New) (MCK). During the week, the MCK gained 5.40 points, or 4.31%, and closed at 130.81 on Friday, November 09, 2018. Weekly volume was -26% below average.

MCK is a member of Services Sector. Services is the second 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 January 29, 2018 at 178.86 and reached 117.19 on October 26, 2018. MCK lost 61.67 points, or 34.48%, in 38 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Medium-term trend: [See MCK medium-term trend chart]
A medium-term downtrend had started on October 10, 2018 at 138.94 and reached 117.19 on October 26, 2018. MCK lost 21.75 points, or 15.65%, in 2 weeks. Price is near the Fibonacci 61.8% retracement level.

Weekly Technical Indicators: [See MCK weekly technical indicators chart]
Weekly technical indicators are neutral. Weekly Lane's Stochastic has bullish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bullish 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 link to access Lane's Stochastic help.

The weekly MACD line is above its signal line since September 14, 2018. The distance between MACD and the signal line is low, but getting bigger. 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 26, 2018 at 117.19 and reached 135.12 on November 8, 2018. MCK gained -17.93 points, or -15.30%, in 13 days. Price is near the Fibonacci 23.6% retracement level.

Daily Technical Indicators: [See MCK daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic.

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 moved above 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.

During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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) 56.02
Williams' Percentage Range (W%R) 22.80
Lane's Stochastic (%D-Slow) 84.11
Overbought
Greed/Fear Indicator (GFI) 72.45
Moving Average Converg./Diverg. (MACD) -1.04
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 54.25
Williams' Percentage Range (W%R) 52.30
Lane's Stochastic (%D-Slow) 49.67
Bullish
Greed/Fear Indicator (GFI) 49.76
Moving Average Converg./Diverg. (MACD) -4.50
Trading Signals
Description Value Chart
Upper Bollinger Band 138.02
Daily Stochastic Crossing 133.48
Price 130.81
50 Day Moving Average 129.96
20 Day Moving Average 127.84
Weekly Stochastic Crossing 126.75
Parabolic System 124.48
Lower Bollinger Band 119.23
Sector and Industry
Description Name Rank
Sector Services 8
Industry Drugs Wholesale 129
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 117.19
Low Date 10/26/2018
High 135.12
High Date 11/08/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 117.19
Low Date 10/26/2018
High 135.12
High Date 11/08/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 138.94
High Date 10/10/2018
Low 117.19
Low Date 10/26/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 178.86
High Date 01/29/2018
Low 117.19
Low Date 10/26/2018
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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