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- 5/29/2020 -
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Omnicom Group (OMC)

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Summary:
Weekly :Overbought sectorPrice is near the Fibonacci 23.6% retracement levelPrice is near the Fibonacci 23.6% retracement level
Daily :The price has risen above the Parabolic SARPrice has crossed above the 50 Day Moving AverageThe price moved above the moving average in the center of the Bollinger Bands
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It was a second consecutive positive week for the Omnicom Group (OMC). During the week, the OMC gained 3.01 points, or 5.81%, and closed at 54.79 on Friday, May 29, 2020. Weekly volume was 24% above average.

OMC is a member of Communication Services Sector. Communication 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 OMC long-term trend chart]
A long-term downtrend had started on July 16, 2019 at 85.05 and reached 46.37 on March 23, 2020. OMC lost 38.68 points, or 45.48%, in 35 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Medium-term trend: [See OMC medium-term trend chart]
A medium-term downtrend had started on December 13, 2019 at 82.73 and reached 46.37 on March 23, 2020. OMC lost 36.36 points, or 43.95%, in 14 weeks. Price is near the Fibonacci 23.6% retracement level.

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

The weekly MACD line is below its signal line since January 24, 2020. 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 OMC short-term trend chart]
A short-term uptrend had started on May 14, 2020 at 46.63 and reached 58.05 on May 27, 2020. OMC gained -11.42 points, or -24.49%, in 13 days. The price is now at the 28.55% retracement level.

Daily Technical Indicators: [See OMC daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since May 20, 2020. This is an indication that the short-term trend is up.

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.

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. 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) 49.23
Williams' Percentage Range (W%R) 31.00
Lane's Stochastic (%D-Slow) 76.14
Greed/Fear Indicator (GFI) 64.79
Moving Average Converg./Diverg. (MACD) -0.56
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 29.88
Williams' Percentage Range (W%R) 76.50
Lane's Stochastic (%D-Slow) 36.80
Greed/Fear Indicator (GFI) 34.67
Moving Average Converg./Diverg. (MACD) -5.86
Trading Signals
Description Value Chart
Upper Bollinger Band 57.78
Daily Stochastic Crossing 56.55
Price 54.79
50 Day Moving Average 53.47
20 Day Moving Average 53.33
Weekly Stochastic Crossing 52.60
Lower Bollinger Band 49.73
Parabolic System 47.91
Sector and Industry
Description Name Rank
Sector Communication Services 9
Industry Advertising 15
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 51.19
Low Date 05/22/2020
High 58.05
High Date 05/27/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 46.63
Low Date 05/14/2020
High 58.05
High Date 05/27/2020
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 82.73
High Date 12/13/2019
Low 46.37
Low Date 03/23/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 85.05
High Date 07/16/2019
Low 46.37
Low Date 03/23/2020
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 89.66
High Date 12/13/2016
Low 46.37
Low Date 03/23/2020
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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