The Greedy Trader Weekly Analysis
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CBS Corp. (CBS)

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Summary:
Weekly :Oversold industryWilliams' Percentage Range and Lane's Stochastic are oversold
Daily :Lane's Stochastic is overboughtThe price moved above the moving average in the center of the Bollinger Bands
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It was a second positive week after 6 consecutive negative weeks for the CBS Corp. (CBS). During the week, the CBS gained 1.37 points, or 3.73%, and closed at 38.11 on Friday, November 8, 2019. It was the best weekly gain since September 6, 2019. Weekly volume was -34% below average.

CBS is a member of Broadcasting - TV Industry. Broadcasting - TV is the third most oversold industry. 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 CBS long-term trend chart]
A long-term downtrend had started on April 5, 2017 at 70.10 and reached 35.02 on October 31, 2019. CBS lost 35.08 points, or 50.04%, in 134 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 30.78 and resistance is at 51.22. 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.

Medium-term trend: [See CBS medium-term trend chart]
A medium-term downtrend had started on July 16, 2019 at 53.71 and reached 35.02 on October 31, 2019. CBS lost 18.69 points, or 34.80%, in 15 weeks. The price is now at the 16.53% retracement level.

Weekly Technical Indicators: [See CBS weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range and Lane's Stochastic. 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 and Williams' Percentage Range help.

The weekly MACD line is below its signal line since August 9, 2019. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.

Short-term trend: [See CBS short-term trend chart]
A short-term uptrend had started on October 31, 2019 at 35.02 and reached 38.30 on November 7, 2019. CBS gained -3.28 points, or -9.37%, in 7 days. The price is now at the 5.79% retracement level.

Daily Technical Indicators: [See CBS 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.

The daily MACD line is above its signal line since October 25, 2019. This is an indication that the short-term trend is up.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 64.19
Williams' Percentage Range (W%R) 20.60
Lane's Stochastic (%D-Slow) 85.28
Overbought
Greed/Fear Indicator (GFI) 76.29
Moving Average Converg./Diverg. (MACD) -0.98
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 21.08
Williams' Percentage Range (W%R) 84.70
Oversold
Lane's Stochastic (%D-Slow) 11.19
Oversold
Greed/Fear Indicator (GFI) 22.53
Moving Average Converg./Diverg. (MACD) -2.59
Trading Signals
Description Value Chart
50 Day Moving Average 39.51
Upper Bollinger Band 39.07
Price 38.11
Daily Stochastic Crossing 37.73
20 Day Moving Average 36.87
Parabolic System 36.42
Weekly Stochastic Crossing 36.17
Lower Bollinger Band 35.69
Yearly Trendline Support 30.78
Sector and Industry
Description Name Rank
Sector Services 7
Industry Broadcasting - TV 3
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 35.02
Low Date 10/31/2019
High 38.30
High Date 11/07/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 44.94
High Date 09/10/2019
Low 35.02
Low Date 10/31/2019
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 53.71
High Date 07/16/2019
Low 35.02
Low Date 10/31/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 59.59
High Date 07/11/2018
Low 35.02
Low Date 10/31/2019
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 51.22
Support 30.78
High 70.10
High Date 04/05/2017
Low 35.02
Low Date 10/31/2019
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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