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
McKesson Corp. (New)
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Summary:
Weekly :Overbought sectorBroken trend resistance lineTrend support at 143.62
Daily :20 Day Moving Average has crossed below the 50 Day Moving AverageDaily  MACD line has moved above its signal lineThe price is close to the moving average in the center of the Bollinger Bands
Move cursor over the icon to see details.

It was a first positive week after 3 consecutive negative weeks for the McKesson Corp. (New) (MCK). During the week, the MCK gained 3.13 points, or 2.20%, and closed at 145.37 on Friday, June 08, 2018. It was the best weekly gain since April 27, 2018. MCK was trading at average weekly trading volume.

MCK is a member of Services Sector. Services is the second 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 MCK long-term trend chart]
A long-term uptrend had started on October 28, 2016 at 114.53 and reached 178.86 on January 29, 2018. MCK gained -64.33 points, or -56.17%, in 65 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend support (143.62) line. The support is usually stronger when technical indicators are oversold. 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 support line in a long-term trend.

Medium-term trend: [See MCK medium-term trend chart]
A medium-term downtrend had started on April 30, 2018 at 160.84 and reached 138.76 on May 24, 2018. MCK lost 22.08 points, or 13.73%, in 3 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (135.58) 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 medium-term trend.

Weekly Technical Indicators: [See MCK weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since February 16, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See MCK short-term trend chart]
A short-term uptrend had started on May 24, 2018 at 138.76 and reached 146.68 on May 25, 2018. MCK gained -7.92 points, or -5.71%, in 1 days. The price is now at the 16.54% retracement level.

Daily Technical Indicators: [See MCK daily technical indicators chart]
Daily technical indicators are neutral.

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

The price is close to 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.

During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. 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) 41.82
Williams' Percentage Range (W%R) 44.70
Lane's Stochastic (%D-Slow) 71.52
Greed/Fear Indicator (GFI) 56.23
Moving Average Converg./Diverg. (MACD) -1.05
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 46.66
Williams' Percentage Range (W%R) 78.70
Lane's Stochastic (%D-Slow) 36.51
Greed/Fear Indicator (GFI) 34.34
Moving Average Converg./Diverg. (MACD) -1.53
Trading Signals
Description Value Chart
Upper Bollinger Band 151.49
Parabolic System 147.75
Weekly Stochastic Crossing 146.90
50 Day Moving Average 146.41
20 Day Moving Average 146.13
Price 145.37
Daily Stochastic Crossing 145.25
Quarterly Trendline Support 143.62
Weekly Trendline Resistance 141.50
Lower Bollinger Band 139.64
Weekly Trendline Support 135.58
Sector and Industry
Description Name Rank
Sector Services 8
Industry Drugs Wholesale 12
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 138.76
Low Date 05/24/2018
High 146.68
High Date 05/25/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 141.50
Support 135.58
High 160.84
High Date 04/30/2018
Low 138.76
Low Date 05/24/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 137.10
Low Date 03/26/2018
High 160.84
High Date 04/30/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Support
Resistance 184.15
Support 143.62
Low 114.53
Low Date 10/28/2016
High 178.86
High Date 01/29/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 243.61
High Date 05/19/2015
Low 114.53
Low Date 10/28/2016
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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