The Greedy Trader Weekly Analysis
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LyondellBasell
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Summary:
Weekly :Oversold sector
Daily :Lane's Stochastic is overboughtBullish Doji Candlestick
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It was a fourth positive week after 5 consecutive negative weeks for the LyondellBasell (LYB). During the week, the LYB climbed 0.42 points, or 0.37%, and closed at 112.57 on Friday, August 10, 2018. Weekly volume was -33% below average.

LYB is a member of Basic Materials Sector. Basic Materials is the second most oversold 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 LYB long-term trend chart]
A long-term uptrend had started on June 6, 2017 at 78.01 and reached 121.95 on January 29, 2018. LYB gained -43.94 points, or -56.33%, in 33 weeks. The chart has formed a Rising Pennant chart pattern. The trend support level is at 104.06 and resistance is at 117.68. A Rising Pennant chart pattern represents a brief pause after a sharp move in a dynamic market. It is considered one of the most reliable continuation patterns.Use the following link to access a Rising Pennant chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Pennant pattern in a long-term trend.

Medium-term trend: [See LYB medium-term trend chart]
A medium-term downtrend had started on May 24, 2018 at 119.39 and reached 105.41 on July 11, 2018. LYB lost 13.98 points, or 11.71%, in 6 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 101.33 and resistance is at 116.15. 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 medium-term trend.

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

The weekly MACD line is below its signal line since June 22, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See LYB short-term trend chart]
A short-term uptrend had started on July 11, 2018 at 105.41 and reached 114.45 on August 9, 2018. LYB gained -9.04 points, or -8.58%, in 29 days. The chart has formed a Broadening Ascending Wedge chart pattern.

Daily Technical Indicators: [See LYB 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. 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 Lane's Stochastic help.

The daily MACD line is above its signal line since July 17, 2018. This is an indication that the short-term trend is up.

Candlestick pattern: [See LYB candlestick chart pattern]
On Friday the chart has formed a Bullish Doji Candlestick pattern. Use the Technical Stock Screener to see the list of stocks that had a Bullish Doji Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.00
Williams' Percentage Range (W%R) 22.00
Lane's Stochastic (%D-Slow) 82.68
Overbought
Greed/Fear Indicator (GFI) 75.56
Moving Average Converg./Diverg. (MACD) 0.40
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 60.99
Williams' Percentage Range (W%R) 29.50
Lane's Stochastic (%D-Slow) 32.76
Greed/Fear Indicator (GFI) 50.48
Moving Average Converg./Diverg. (MACD) 1.55
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 117.68
Weekly Trendline Resistance 116.15
Upper Bollinger Band 115.15
Daily Stochastic Crossing 113.13
Price 112.57
Parabolic System 111.24
50 Day Moving Average 110.99
20 Day Moving Average 110.07
Weekly Stochastic Crossing 109.67
Lower Bollinger Band 106.55
Quarterly Trendline Support 104.06
Weekly Trendline Support 101.33
Sector and Industry
Description Name Rank
Sector Basic Materials 2
Industry Specialty Chemicals 108
Daily Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Low 105.41
Low Date 07/11/2018
High 114.45
High Date 08/09/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 116.15
Support 101.33
High 119.39
High Date 05/24/2018
Low 105.41
Low Date 07/11/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 96.19
Low Date 04/04/2018
High 119.39
High Date 05/24/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Pennant
Status Valid
Resistance 117.68
Support 104.06
Low 78.01
Low Date 06/06/2017
High 121.95
High Date 01/29/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 69.10
Low Date 01/20/2016
High 121.95
High Date 01/29/2018
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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