The Greedy Trader Weekly Analysis
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Ameriprise Financial (AMP)

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Summary:
Weekly :Trend resistance at 246.39Trend support at 250.94
Daily :The price moved above the moving average in the center of the Bollinger BandsThe Bollinger Bands are historically close together
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It was a first positive week for the Ameriprise Financial (AMP). During the week, the AMP climbed 2.11 points, or 0.86%, and closed at 248.89 on Friday, July 23, 2021. Weekly volume was -26% below average.

Long-term trend: [See AMP long-term trend chart]
A long-term uptrend had started on November 21, 2008 at 11.74 and reached 269.29 on May 10, 2021. AMP gained -257.55 points, or -2193.78%, in 650 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (246.39). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.

Medium-term trend: [See AMP medium-term trend chart]
A medium-term uptrend had started on March 18, 2020 at 80.01 and reached 269.29 on May 10, 2021. AMP gained -189.28 points, or -236.57%, in 59 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend support (250.94) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.

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

The weekly MACD line is below its signal line since June 11, 2021. The distance between MACD and the signal line is relatively high and getting bigger. Use the following link to access a MACD help.

Short-term trend: [See AMP short-term trend chart]
A short-term downtrend had started on July 1, 2021 at 252.20 and reached 236.55 on July 19, 2021. AMP lost 15.65 points, or 6.21%, in 18 days. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 234.34 and resistance is at 252.12. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a short-term trend.

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

The daily MACD line is above its signal line since July 20, 2021. The distance between MACD and the signal line is low, but getting bigger.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (5.08%) is close to one year low (5.24%). It is 51.69% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.31
Williams' Percentage Range (W%R) 28.20
Lane's Stochastic (%D-Slow) 59.76
Greed/Fear Indicator (GFI) 59.95
Moving Average Converg./Diverg. (MACD) -1.40
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 50.07
Williams' Percentage Range (W%R) 37.70
Lane's Stochastic (%D-Slow) 31.89
Greed/Fear Indicator (GFI) 47.30
Moving Average Converg./Diverg. (MACD) 15.91
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 292.12
Upper Bollinger Band 254.36
Weekly Trendline Resistance 252.12
50 Day Moving Average 251.96
Quarterly Trendline Support 250.94
Price 248.89
Daily Stochastic Crossing 248.27
20 Day Moving Average 247.76
Weekly Stochastic Crossing 247.21
Yearly Trendline Resistance 246.39
Lower Bollinger Band 241.70
Parabolic System 236.97
Weekly Trendline Support 234.34
Sector and Industry
Description Name Rank
Sector Financials 6
Industry Asset Management & Custody Banks 68
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 236.55
Low Date 07/19/2021
High 252.78
High Date 07/21/2021
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Right-Angled, Descending Wedge
Status Valid
Resistance 252.12
Support 234.34
High 252.20
High Date 07/01/2021
Low 236.55
Low Date 07/19/2021
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 269.29
High Date 05/10/2021
Low 236.35
Low Date 06/18/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Support
Resistance 292.12
Support 250.94
Low 80.01
Low Date 03/18/2020
High 269.29
High Date 05/10/2021
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Test Resistance
Resistance 246.39
Support 124.28
Low 11.74
Low Date 11/21/2008
High 269.29
High Date 05/10/2021
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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