The Greedy Trader Weekly Analysis
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- 3/15/2024 -
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Sealed Air Corp.(New) (SEE) Technical Analysis

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Summary:
Weekly :Overbought sectorPrice is near the Fibonacci 23.6% retracement level
Daily :The price has risen above the Parabolic SARPrice is close to the 50 Day Moving Average
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It was the negative week for the Sealed Air Corp.(New) (SEE). During the week, the SEE gave back -0.34 points, or -0.93%, and closed at 36.12 on Friday, March 15, 2024. Weekly volume was -27% below average.

SEE is a member of Materials Sector. Materials 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 SEE long-term trend chart]
A long-term downtrend had started on March 29, 2022 at 70.72 and reached 28.50 on October 23, 2023. SEE lost 42.22 points, or 59.70%, in 81 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 21.17 and resistance is at 39.47. A Falling 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 Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a long-term trend.

Medium-term trend: [See SEE medium-term trend chart]
A medium-term uptrend had started on October 23, 2023 at 28.50 and reached 38.45 on February 27, 2024. SEE gained -9.95 points, or -34.91%, in 18 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

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

The weekly MACD line is above its signal line since November 10, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See SEE short-term trend chart]
A short-term uptrend had started on February 28, 2024 at 33.64 and reached 38.05 on March 12, 2024. SEE gained -4.41 points, or -13.11%, in 13 days. The price is now at the 43.76% retracement level.

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

The daily MACD line is above its signal line since March 7, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.

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.

Price is close to the 50 Day Moving Average. 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) 50.26
Williams' Percentage Range (W%R) 58.80
Lane's Stochastic (%D-Slow) 67.78
Greed/Fear Indicator (GFI) 53.07
Moving Average Converg./Diverg. (MACD) 0.11
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 58.38
Williams' Percentage Range (W%R) 28.40
Lane's Stochastic (%D-Slow) 51.33
Greed/Fear Indicator (GFI) 57.69
Moving Average Converg./Diverg. (MACD) -0.84
Trading Signals
Description Value Chart
Yearly Trendline Resistance 39.47
Upper Bollinger Band 37.57
Daily Stochastic Crossing 36.88
Price 36.12
Weekly Stochastic Crossing 35.92
20 Day Moving Average 35.81
50 Day Moving Average 35.81
Parabolic System 34.28
Lower Bollinger Band 34.27
Sector and Industry
Description Name Rank
Sector Materials 10
Industry Paper Packaging 70
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 38.05
High Date 03/12/2024
Low 35.53
Low Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 33.64
Low Date 02/28/2024
High 38.05
High Date 03/12/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 38.45
High Date 02/27/2024
Low 33.64
Low Date 02/28/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 28.50
Low Date 10/23/2023
High 38.45
High Date 02/27/2024
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 39.47
Support 21.17
High 70.72
High Date 03/29/2022
Low 28.50
Low Date 10/23/2023
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.