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- 1/15/2021 -
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Molson Coors Brewing Company (TAP)

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Summary:
Weekly :Relative Strength Index and Lane's Stochastic are overboughtWilliams' Percentage Range is strongly overboughtLane's Stochastic and MACD bearish divergenceBroken trend resistance line
Daily :Relative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overboughtStochastic has declined below the signal linePrice is near the Fibonacci 23.6% retracement level
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It was a second positive week after 4 consecutive negative weeks for the Molson Coors Brewing Company (TAP). During the week, the TAP gained 3.04 points, or 6.14%, and closed at 52.54 on Friday, January 15, 2021. TAP was trading at average weekly trading volume.

Long-term trend: [See TAP long-term trend chart]
A long-term downtrend had started on October 14, 2016 at 112.19 and reached 32.11 on September 24, 2020. TAP lost 80.08 points, or 71.38%, in 205 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (27.35) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. TAP may retest the broken resistance line. It is considered to be a support line now. 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 TAP medium-term trend chart]
A medium-term uptrend had started on September 24, 2020 at 32.11 and reached 53.72 on January 14, 2021. TAP gained -21.61 points, or -67.30%, in 16 weeks. The price is now at the 5.46% retracement level.

Weekly Technical Indicators: [See TAP weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD bearish 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since July 24, 2020. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See TAP short-term trend chart]
A short-term uptrend had started on January 7, 2021 at 48.68 and reached 53.72 on January 14, 2021. TAP gained -5.04 points, or -10.35%, in 7 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See TAP daily technical indicators chart]
Daily Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index or strongly overbought daily Williams' Percentage Range and Lane's Stochastic. 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 January 5, 2021. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 85.74
Overbought
Williams' Percentage Range (W%R) 4.90
Strong Overbought
Lane's Stochastic (%D-Slow) 91.65
Strong Overbought
Greed/Fear Indicator (GFI) 90.83
Strong Overbought
Moving Average Converg./Diverg. (MACD) 1.40
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 83.46
Overbought
Williams' Percentage Range (W%R) 2.20
Strong Overbought
Lane's Stochastic (%D-Slow) 86.55
Overbought Bearish
Greed/Fear Indicator (GFI) 84.39
Overbought
Moving Average Converg./Diverg. (MACD) 0.87 Bearish
Trading Signals
Description Value Chart
Upper Bollinger Band 54.49
Daily Stochastic Crossing 53.21
Price 52.54
Weekly Stochastic Crossing 52.27
Parabolic System 50.53
20 Day Moving Average 47.66
50 Day Moving Average 45.89
Lower Bollinger Band 42.75
Sector and Industry
Description Name Rank
Sector Consumer Staples 3
Industry Brewers 122
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 48.68
Low Date 01/07/2021
High 53.72
High Date 01/14/2021
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 48.68
Low Date 01/07/2021
High 53.72
High Date 01/14/2021
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 43.91
Low Date 12/22/2020
High 53.72
High Date 01/14/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 32.11
Low Date 09/24/2020
High 53.72
High Date 01/14/2021
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 15.31
Support 27.35
High 112.19
High Date 10/14/2016
Low 32.11
Low Date 09/24/2020
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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