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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
- 2/9/2018
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Affiliated Managers Group Inc
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Summary:
Weekly :Lane's Stochastic bearish divergenceWeekly  MACD line has moved below its signal lineOversold sectorBroken trend resistance lineBroken trend resistance lineWilliams' Percentage Range is oversold
Daily :Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are oversoldStochastic has raised above the signal lineBullish Homing Pigeon CandlestickBroken trend support lineThe period of high volatility of the stock price
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It was the negative week for the Affiliated Managers Group Inc (AMG). During the week, the AMG dropped -16.87 points, or -8.56%, and closed at 180.24 on Friday, February 09, 2018. Weekly volume was 73% above average.

AMG is a member of Financial Sector. Financial 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 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 (154.79) is broken. A broken support is considered to be a long-term bullish signal. 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 216.99 on January 26, 2018. AMG gained -101.02 points, or -87.11%, in 102 weeks. The chart has formed a Rising Pennant chart pattern. The uptrend resistance line (165.54) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range. Weekly Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic 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 and Williams' Percentage Range help.

During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. 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 216.99 on January 26, 2018. AMG gained -68.18 points, or -45.82%, in 253 days. The chart has formed a Rising Channel chart pattern. The uptrend support line (189.65) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. AMG may retest the broken support line. It is considered to be a resistance 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 support 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 oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Use the following link to access Relative Strength Index help.

The daily MACD line is below its signal line since January 29, 2018. The distance between MACD and the signal line is near its high and getting bigger.

The distance between the Bollinger Bands is 180.08% higher then one year average. It indicates the period of high volatility of the stock price. 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.

Candlestick pattern: [See AMG candlestick chart pattern]
On Friday the chart has formed a Bullish Homing Pigeon Candlestick pattern. A Bullish Homing Pigeon pattern occurs in a downtrend. Market usually has a tendency to enter into a congestion phase following a Homing Pigeon pattern.The reliability of the Bullish Homing Pigeon is medium. Use the Technical Stock Screener to see the list of stocks that had a Bullish Homing Pigeon Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 18.87
Oversold
Williams' Percentage Range (W%R) 81.30
Oversold
Lane's Stochastic (%D-Slow) 14.14
Oversold
Greed/Fear Indicator (GFI) 17.22
Oversold
Moving Average Converg./Diverg. (MACD) -1.46
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 46.92
Williams' Percentage Range (W%R) 81.30
Oversold
Lane's Stochastic (%D-Slow) 62.84
Bearish
Greed/Fear Indicator (GFI) 43.49
Moving Average Converg./Diverg. (MACD) 7.88
Trading Signals
Description Value Chart
Upper Bollinger Band 218.85
Monthly Trendline Resistance 214.50
20 Day Moving Average 201.66
50 Day Moving Average 200.77
Weekly Stochastic Crossing 199.90
Parabolic System 192.02
Weekly Trendline Support 189.65
Monthly Trendline Support 184.69
Price 180.24
Daily Stochastic Crossing 178.75
Lower Bollinger Band 175.45
Quarterly Trendline Support 165.54
Quarterly Trendline Resistance 162.41
Yearly Trendline Support 154.79
Sector and Industry
Description Name Rank
Sector Financial 2
Industry Asset Management 51
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 178.87
Low Date 11/15/2017
High 216.99
High Date 01/26/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 217.31
Support 189.65
Low 148.81
Low Date 05/18/2017
High 216.99
High Date 01/26/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 214.50
Support 184.69
Low 130.48
Low Date 11/08/2016
High 216.99
High Date 01/26/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Pennant
Status Broken Resistance
Resistance 162.41
Support 165.54
Low 115.97
Low Date 02/11/2016
High 216.99
High Date 01/26/2018
Description Value
Direction Down
Chart Pattern Falling Pennant
Status Broken Resistance
Resistance 88.61
Support 154.79
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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