The Greedy Trader Weekly Analysis
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- 3/15/2024 -
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FleetCor T (FLT) Technical Analysis

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is strongly overboughtRelative Strength Index, Lane's Stochastic and MACD bearish divergence
Daily :Lane's Stochastic is overbought
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It was a second consecutive positive week for the FleetCor T (FLT). During the week, the FLT climbed 1.61 points, or 0.55%, and closed at 295.64 on Friday, March 15, 2024. Weekly volume was -19% below average.

FLT is a member of Information Technology Sector. Information Technology is the second 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 FLT long-term trend chart]
A long-term uptrend had started on October 21, 2022 at 161.69 and reached 299.97 on March 14, 2024. FLT gained -138.28 points, or -85.52%, in 72 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 241.66 and resistance is at 321.71. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.

Medium-term trend: [See FLT medium-term trend chart]
A medium-term uptrend had started on October 30, 2023 at 220.39 and reached 299.97 on March 14, 2024. FLT gained -79.58 points, or -36.11%, in 19 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 273.65 and resistance is at 331.43. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See FLT 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. Weekly Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index, 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 December 15, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.

Short-term trend: [See FLT short-term trend chart]
A short-term downtrend had started on March 14, 2024 at 299.97 and reached 291.91 on March 15, 2024. FLT lost 8.06 points, or 2.69%, in 1 days. The price is now at the 46.28% retracement level.

Daily Technical Indicators: [See FLT 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 February 28, 2024.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 72.70
Williams' Percentage Range (W%R) 22.80
Lane's Stochastic (%D-Slow) 85.08
Overbought
Greed/Fear Indicator (GFI) 78.31
Moving Average Converg./Diverg. (MACD) 2.73
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 69.13
Bearish
Williams' Percentage Range (W%R) 9.10
Strong Overbought
Lane's Stochastic (%D-Slow) 58.09
Bearish
Greed/Fear Indicator (GFI) 67.90
Moving Average Converg./Diverg. (MACD) 9.87 Bearish
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 331.43
Yearly Trendline Resistance 321.71
Upper Bollinger Band 304.81
Monthly Trendline Resistance 300.88
Daily Stochastic Crossing 297.28
Price 295.64
Monthly Trendline Support 289.96
Weekly Stochastic Crossing 284.67
50 Day Moving Average 283.91
20 Day Moving Average 283.88
Parabolic System 283.82
Quarterly Trendline Support 273.65
Lower Bollinger Band 269.49
Yearly Trendline Support 241.66
Sector and Industry
Description Name Rank
Sector Information Technology 8
Industry Data Processing & Outsourced Services 73
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 299.97
High Date 03/14/2024
Low 291.91
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 299.97
High Date 03/14/2024
Low 291.91
Low Date 03/15/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 300.88
Support 289.96
Low 259.25
Low Date 02/08/2024
High 299.97
High Date 03/14/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 331.43
Support 273.65
Low 220.39
Low Date 10/30/2023
High 299.97
High Date 03/14/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 321.71
Support 241.66
Low 161.69
Low Date 10/21/2022
High 299.97
High Date 03/14/2024
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.