The Greedy Trader Weekly Analysis
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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.

Downtrend Broken Resist.

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- 3/15/2024 -
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Cincinnati Financial (CINF) Technical Analysis

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Summary:
Weekly :Overbought sectorRelative Strength Index and Lane's Stochastic are overboughtWilliams' Percentage Range is strongly overboughtBroken trend resistance line
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtLane's Stochastic bearish divergence
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It was a fifth consecutive positive week for the Cincinnati Financial (CINF). During the week, the CINF gained 2.61 points, or 2.23%, and closed at 119.90 on Friday, March 15, 2024. Weekly volume was 177% above average.

CINF is a member of Financials Sector. Financials 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 CINF long-term trend chart]
A long-term downtrend had started on April 21, 2022 at 143.22 and reached 88.66 on September 26, 2022. CINF lost 54.56 points, or 38.10%, in 22 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (101.06) 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. CINF 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 CINF medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 96.86 and reached 121.38 on March 15, 2024. CINF gained -24.52 points, or -25.31%, in 20 weeks. The price is now at the 6.04% retracement level.

Weekly Technical Indicators: [See CINF weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Lane's Stochastic or strongly overbought weekly 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 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 1, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See CINF short-term trend chart]
A short-term uptrend had started on March 5, 2024 at 111.50 and reached 121.38 on March 15, 2024. CINF gained -9.88 points, or -8.86%, in 10 days. The price is now at the 14.98% retracement level.

Daily Technical Indicators: [See CINF daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. Daily 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 daily Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.

The daily MACD line is above its signal line since March 5, 2024. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 79.78
Williams' Percentage Range (W%R) 14.50
Overbought
Lane's Stochastic (%D-Slow) 86.32
Overbought Bearish
Greed/Fear Indicator (GFI) 83.86
Overbought
Moving Average Converg./Diverg. (MACD) 1.89
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 83.32
Overbought
Williams' Percentage Range (W%R) 6.40
Strong Overbought
Lane's Stochastic (%D-Slow) 86.19
Overbought
Greed/Fear Indicator (GFI) 82.21
Overbought
Moving Average Converg./Diverg. (MACD) 1.61
Trading Signals
Description Value Chart
Upper Bollinger Band 121.42
Daily Stochastic Crossing 120.80
Price 119.90
Weekly Stochastic Crossing 119.54
20 Day Moving Average 114.84
Parabolic System 113.86
Yearly Trendline Resistance 113.56
50 Day Moving Average 111.83
Lower Bollinger Band 109.37
Yearly Trendline Support 101.06
Sector and Industry
Description Name Rank
Sector Financials 11
Industry Property & Casualty Insurance 121
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 111.50
Low Date 03/05/2024
High 121.38
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 104.78
Low Date 02/07/2024
High 121.38
High Date 03/15/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 96.86
Low Date 10/27/2023
High 121.38
High Date 03/15/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 95.01
Low Date 06/28/2023
High 121.38
High Date 03/15/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 113.56
Support 101.06
High 143.22
High Date 04/21/2022
Low 88.66
Low Date 09/26/2022
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.