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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Masco Corp. (MAS) Technical Analysis

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range and Lane's Stochastic are overboughtStochastic has declined below the signal lineTrend resistance at 72.83
Daily :Williams' Percentage Range and Lane's Stochastic are oversoldThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Masco Corp. (MAS). During the week, the MAS dropped -2.72 points, or -3.54%, and closed at 74.16 on Friday, March 15, 2024. Weekly volume was 42% above average.

MAS is a member of Industrials Sector. Industrials 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 MAS long-term trend chart]
A long-term uptrend had started on October 26, 2022 at 42.33 and reached 78.29 on March 4, 2024. MAS gained -35.96 points, or -84.95%, in 70 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (72.83). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.

Medium-term trend: [See MAS medium-term trend chart]
A medium-term uptrend had started on January 4, 2024 at 63.60 and reached 78.29 on March 4, 2024. MAS gained -14.69 points, or -23.10%, in 8 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 70.38 and resistance is at 81.03. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See MAS weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish 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.

The weekly MACD line is above its signal line since November 17, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See MAS short-term trend chart]
A short-term downtrend had started on March 4, 2024 at 78.29 and reached 72.61 on March 15, 2024. MAS lost 5.68 points, or 7.26%, in 11 days. The price is now at the 27.29% retracement level.

Daily Technical Indicators: [See MAS daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic.

The daily MACD line is below its signal line since March 6, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.62
Williams' Percentage Range (W%R) 88.20
Oversold
Lane's Stochastic (%D-Slow) 15.30
Oversold
Greed/Fear Indicator (GFI) 23.56
Moving Average Converg./Diverg. (MACD) 1.56
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 69.63
Williams' Percentage Range (W%R) 17.40
Overbought
Lane's Stochastic (%D-Slow) 83.23
Overbought
Greed/Fear Indicator (GFI) 74.33
Moving Average Converg./Diverg. (MACD) 4.09
Trading Signals
Description Value Chart
Monthly Trendline Resistance 81.03
Upper Bollinger Band 77.57
Parabolic System 77.12
Weekly Stochastic Crossing 76.41
20 Day Moving Average 75.59
Price 74.16
Daily Stochastic Crossing 73.60
Yearly Trendline Resistance 72.83
Lower Bollinger Band 72.01
50 Day Moving Average 71.47
Monthly Trendline Support 70.38
Sector and Industry
Description Name Rank
Sector Industrials 12
Industry Building Products 104
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 78.27
High Date 03/08/2024
Low 72.61
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 78.29
High Date 03/04/2024
Low 72.61
Low Date 03/15/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 81.03
Support 70.38
Low 63.60
Low Date 01/04/2024
High 78.29
High Date 03/04/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 47.66
Low Date 10/25/2023
High 78.29
High Date 03/04/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Test Resistance
Resistance 72.83
Support 50.26
Low 42.33
Low Date 10/26/2022
High 78.29
High Date 03/04/2024
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.