The Greedy Trader Weekly Analysis
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Number of records: 15
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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
Discovery Communications
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Summary:
Weekly :Williams' Percentage Range is strongly overboughtRelative Strength Index and MACD bearish divergenceBroken trend resistance lineBroken trend resistance line
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtLane's Stochastic bearish divergenceBearish Deliberation CandlestickStochastic signal line moved above oversold areaDaily  MACD line has moved above its signal lineThe price is above the upper Bollinger Band
Move cursor over the icon to see details.

It was a second consecutive positive week for the Discovery Communications (DISCK). During the week, the DISCK gained 3.80 points, or 14.76%, and closed at 29.55 on Friday, September 14, 2018. Weekly volume was -11% below average.

Long-term trend: [See DISCK long-term trend chart]
A long-term downtrend had started on July 17, 2014 at 85.32 and reached 14.99 on November 15, 2017. DISCK lost 70.33 points, or 82.43%, in 173 weeks. The chart has formed a Rising Pennant chart pattern. The downtrend resistance line (24.34) 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. DISCK 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 DISCK medium-term trend chart]
A medium-term downtrend had started on April 24, 2017 at 29.18 and reached 14.99 on November 15, 2017. DISCK lost 14.19 points, or 48.63%, in 29 weeks. The chart has formed a Rising Pennant chart pattern. The downtrend resistance line (24.34) 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. DISCK 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 medium-term trend.

Weekly Technical Indicators: [See DISCK 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. Weekly Relative Strength Index and MACD have bearish divergence. Use the following links to access the Relative Strength Index and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index and MACD 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 Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since June 8, 2018. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.

Short-term trend: [See DISCK short-term trend chart]
A short-term uptrend had started on March 29, 2018 at 19.08 and reached 29.96 on September 14, 2018. DISCK gained -10.88 points, or -57.02%, in 169 days. The chart has formed a Falling Wedge chart pattern. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a short-term trend.

Daily Technical Indicators: [See DISCK 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. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. 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. Use the following link to access Lane's Stochastic help.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish 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.

Candlestick pattern: [See DISCK candlestick chart pattern]
On Friday the chart has formed a Bearish Deliberation Candlestick pattern. This pattern occurs in an uptrend;it appears after a sustained upward move and suggests that the rally is losing strength and a reversal is possible. The reliability of the Bearish Deliberation pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Deliberation Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 77.80
Williams' Percentage Range (W%R) 11.40
Overbought
Lane's Stochastic (%D-Slow) 86.76
Overbought Bearish
Greed/Fear Indicator (GFI) 84.37
Overbought
Moving Average Converg./Diverg. (MACD) 0.49
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 75.58
Bearish
Williams' Percentage Range (W%R) 5.90
Strong Overbought
Lane's Stochastic (%D-Slow) 68.52
Greed/Fear Indicator (GFI) 73.64
Moving Average Converg./Diverg. (MACD) 0.91 Bearish
Trading Signals
Description Value Chart
Weekly Trendline Resistance 32.58
Weekly Trendline Support 32.58
Price 29.55
Daily Stochastic Crossing 29.50
Upper Bollinger Band 28.96
Weekly Stochastic Crossing 28.12
Monthly Trendline Resistance 27.62
20 Day Moving Average 26.50
Parabolic System 26.14
50 Day Moving Average 25.42
Quarterly Trendline Support 24.34
Yearly Trendline Support 24.34
Lower Bollinger Band 24.10
Monthly Trendline Support 24.09
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 22.87
Low Date 08/07/2018
High 29.96
High Date 09/14/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Falling Wedge
Status
Resistance 32.58
Support 32.58
Low 19.08
Low Date 03/29/2018
High 29.96
High Date 09/14/2018
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 27.62
Support 24.09
Low 14.99
Low Date 11/15/2017
High 29.96
High Date 09/14/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Rising Pennant
Status Broken Resistance
Resistance 22.72
Support 24.34
High 29.18
High Date 04/24/2017
Low 14.99
Low Date 11/15/2017
Description Value
Direction Down
Chart Pattern Rising Pennant
Status Broken Resistance
Resistance 22.72
Support 24.34
High 85.32
High Date 07/17/2014
Low 14.99
Low Date 11/15/2017
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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