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Downtrend Broken Resistance
Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.
Technical analysis of stock trend chart following long term trend analysis and trend following indicator for broken resistance trend trading. Stock trend analysis and broken resistance trend following indicators.
trend trading,trend following,stock trend chart,technical analysis of stock trend,trend following indicator,following long term trend,Broken Resistance
Archive
- 12/1/2017
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Affiliated Managers Group Inc
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Summary:
Weekly :Overbought sectorBroken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is strongly overboughtBroken trend resistance line
Daily :Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overboughtStochastic has declined below the signal lineThe price has fallen below the Parabolic SAR
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It was a third positive week after 3 consecutive negative weeks for the Affiliated Managers Group Inc (AMG). During the week, the AMG gained 7.48 points, or 3.93%, and closed at 197.85 on Friday, December 01, 2017. Weekly volume was -14% below average.

AMG is a member of Financial Sector. Financial is the 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 AMG long-term trend chart]
A long-term downtrend had started on April 29, 2015 at 230.63 and reached 115.97 on February 11, 2016. AMG lost 114.66 points, or 49.72%, in 41 weeks. The chart has formed a Falling Pennant chart pattern. The downtrend resistance line (151.16) 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. AMG 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 AMG medium-term trend chart]
A medium-term uptrend had started on February 11, 2016 at 115.97 and reached 202.09 on November 30, 2017. AMG gained -86.12 points, or -74.26%, in 94 weeks. The chart has formed a Rising Pennant chart pattern. The uptrend resistance line (160.79) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 medium-term trend.

Weekly Technical Indicators: [See AMG 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 below its signal line since November 10, 2017. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.

Short-term trend: [See AMG short-term trend chart]
A short-term uptrend had started on May 18, 2017 at 148.81 and reached 202.09 on November 30, 2017. AMG gained -53.28 points, or -35.80%, in 196 days. The chart has formed a Rising Channel chart pattern. The trend support level is at 179.38 and resistance is at 207.04. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a short-term trend.

Daily Technical Indicators: [See AMG daily technical indicators chart]
Daily Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index, 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. Use the following links to access Lane's Stochastic and Relative Strength Index help.

The daily MACD line is above its signal line since November 20, 2017. This is an indication that the short-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term uptrend is strong.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 85.86
Overbought
Williams' Percentage Range (W%R) 12.00
Overbought
Lane's Stochastic (%D-Slow) 87.84
Overbought
Greed/Fear Indicator (GFI) 87.23
Overbought
Moving Average Converg./Diverg. (MACD) 0.89
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 69.44
Williams' Percentage Range (W%R) 8.60
Strong Overbought
Lane's Stochastic (%D-Slow) 56.89
Greed/Fear Indicator (GFI) 71.40
Moving Average Converg./Diverg. (MACD) 6.94
Trading Signals
Description Value Chart
Weekly Trendline Resistance 207.04
Monthly Trendline Resistance 206.24
Parabolic System 202.29
Upper Bollinger Band 201.56
Daily Stochastic Crossing 199.90
Price 197.85
Weekly Stochastic Crossing 191.92
50 Day Moving Average 190.54
20 Day Moving Average 188.83
Lower Bollinger Band 180.85
Weekly Trendline Support 179.38
Monthly Trendline Support 176.43
Quarterly Trendline Resistance 164.22
Quarterly Trendline Support 160.79
Sector and Industry
Description Name Rank
Sector Financial 9
Industry Asset Management 114
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 178.87
Low Date 11/15/2017
High 202.09
High Date 11/30/2017
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 207.04
Support 179.38
Low 148.81
Low Date 05/18/2017
High 202.09
High Date 11/30/2017
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 206.24
Support 176.43
Low 130.48
Low Date 11/08/2016
High 202.09
High Date 11/30/2017
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Pennant
Status Broken Resistance
Resistance 164.22
Support 160.79
Low 115.97
Low Date 02/11/2016
High 202.09
High Date 11/30/2017
Description Value
Direction Down
Chart Pattern Falling Pennant
Status Broken Resistance
Resistance 98.12
Support 151.16
High 230.63
High Date 04/29/2015
Low 115.97
Low Date 02/11/2016
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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