The Greedy Trader Weekly Analysis
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CBS Corp. (CBS)

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Summary:
Weekly :Williams' Percentage Range is strongly overboughtBroken trend resistance linePrice is near the trend high
Daily :Williams' Percentage Range and Lane's Stochastic are strongly overboughtStochastic has declined below the signal lineMACD bearish divergenceTrend resistance at 52.94
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It was a second consecutive positive week for the CBS Corp. (CBS). During the week, the CBS gained 1.17 points, or 2.25%, and closed at 53.18 on Friday, July 12, 2019. Weekly volume was -30% below average.

Long-term trend: [See CBS long-term trend chart]
A long-term downtrend had started on April 5, 2017 at 70.10 and reached 41.38 on December 26, 2018. CBS lost 28.72 points, or 40.97%, in 90 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (37.70) 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. CBS 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 CBS medium-term trend chart]
A medium-term downtrend had started on April 17, 2019 at 52.89 and reached 46.43 on May 29, 2019. CBS lost 6.46 points, or 12.21%, in 6 weeks. Price is near the highest trend level.

Weekly Technical Indicators: [See CBS weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. 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 link to access Williams' Percentage Range help.

The weekly MACD line is above its signal line since March 29, 2019. 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 May 29, 2019 at 46.43 and reached 53.47 on July 12, 2019. CBS gained -7.04 points, or -15.16%, in 44 days. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (52.94). 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 short-term trend.

Daily Technical Indicators: [See CBS daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought 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. Daily MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since May 31, 2019. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 70.44
Williams' Percentage Range (W%R) 5.80
Strong Overbought
Lane's Stochastic (%D-Slow) 96.71
Strong Overbought
Greed/Fear Indicator (GFI) 87.12
Overbought
Moving Average Converg./Diverg. (MACD) 0.75 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 60.20
Williams' Percentage Range (W%R) 3.60
Strong Overbought
Lane's Stochastic (%D-Slow) 62.63
Greed/Fear Indicator (GFI) 70.25
Moving Average Converg./Diverg. (MACD) -0.62
Trading Signals
Description Value Chart
Upper Bollinger Band 53.90
Daily Stochastic Crossing 53.35
Price 53.18
Weekly Trendline Resistance 52.94
Weekly Stochastic Crossing 51.40
Parabolic System 51.29
20 Day Moving Average 50.71
50 Day Moving Average 49.33
Weekly Trendline Support 49.18
Lower Bollinger Band 48.05
Yearly Trendline Resistance 47.46
Sector and Industry
Description Name Rank
Sector Services 5
Industry Broadcasting - TV 124
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 48.29
Low Date 06/27/2019
High 53.47
High Date 07/12/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Test Resistance
Resistance 52.94
Support 49.18
Low 46.43
Low Date 05/29/2019
High 53.47
High Date 07/12/2019
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 52.89
High Date 04/17/2019
Low 46.43
Low Date 05/29/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 59.59
High Date 07/11/2018
Low 41.38
Low Date 12/26/2018
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 47.46
Support 37.70
High 70.10
High Date 04/05/2017
Low 41.38
Low Date 12/26/2018
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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