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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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ConocoPhillips
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Summary:
Weekly :Lane's Stochastic is overboughtBroken trend resistance lineBroken trend support line
Daily :Broken trend support lineThe price is below the lower Bollinger BandRelative Strength Index and Lane's Stochastic are oversoldPrice has crossed below the 50 Day Moving Average
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It was the negative week for the ConocoPhillips (COP). During the week, the COP dropped -5.70 points, or -9.88%, and closed at 52.02 on Friday, February 09, 2018. Weekly volume was 42% above average.

Long-term trend: [See COP long-term trend chart]
A long-term downtrend had started on July 24, 2014 at 87.09 and reached 31.05 on February 11, 2016. COP lost 56.04 points, or 64.35%, in 81 weeks. The chart has formed a Falling Pennant chart pattern. The downtrend resistance line (45.75) 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 COP medium-term trend chart]
A medium-term uptrend had started on August 21, 2017 at 42.27 and reached 61.32 on January 24, 2018. COP gained -19.05 points, or -45.07%, in 22 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend support line (53.83) 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. COP 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 medium-term trend.

Weekly Technical Indicators: [See COP weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 weekly MACD line is above its signal line since September 8, 2017. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See COP short-term trend chart]
A short-term downtrend had started on January 24, 2018 at 61.32 and reached 50.18 on February 9, 2018. COP lost 11.14 points, or 18.17%, in 16 days. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend support line (54.56) is broken. Usually a broken support is considered to be a long-term bearish 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 support in a short-term trend.

Daily Technical Indicators: [See COP daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Relative Strength Index and Lane's Stochastic. Use the following link to access Relative Strength Index help.

The daily MACD line is below its signal line since January 24, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.

The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. 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.

During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 14.81
Oversold
Williams' Percentage Range (W%R) 72.50
Lane's Stochastic (%D-Slow) 14.23
Oversold
Greed/Fear Indicator (GFI) 18.84
Oversold
Moving Average Converg./Diverg. (MACD) 0.42
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.02
Williams' Percentage Range (W%R) 56.80
Lane's Stochastic (%D-Slow) 80.79
Overbought
Greed/Fear Indicator (GFI) 57.77
Moving Average Converg./Diverg. (MACD) 2.42
Trading Signals
Description Value Chart
Upper Bollinger Band 61.76
Weekly Stochastic Crossing 58.75
Weekly Trendline Resistance 58.58
20 Day Moving Average 58.33
Parabolic System 56.87
50 Day Moving Average 55.70
Weekly Trendline Support 54.56
Monthly Trendline Support 53.83
Lower Bollinger Band 52.06
Price 52.02
Daily Stochastic Crossing 51.70
Yearly Trendline Support 45.75
Sector and Industry
Description Name Rank
Sector Basic Materials 4
Industry Major Integrated Oil/Gas 64
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 59.97
High Date 02/01/2018
Low 50.18
Low Date 02/09/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Broken Support
Resistance 58.58
Support 54.56
High 61.32
High Date 01/24/2018
Low 50.18
Low Date 02/09/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Support
Resistance 62.99
Support 53.83
Low 42.27
Low Date 08/21/2017
High 61.32
High Date 01/24/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 31.05
Low Date 02/11/2016
High 61.32
High Date 01/24/2018
Description Value
Direction Down
Chart Pattern Falling Pennant
Status Broken Resistance
Resistance 36.80
Support 45.75
High 87.09
High Date 07/24/2014
Low 31.05
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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