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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Robert Half International (RHI) Technical Analysis

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Summary:
Weekly :Overbought sectorOversold industry
Daily :Daily  MACD line has moved below its signal lineWilliams' Percentage Range is oversoldThe price has declined below the moving average in the center of the Bollinger BandsThe period of low volatility of the stock price
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It was the negative week for the Robert Half International (RHI). During the week, the RHI dropped -2.49 points, or -3.06%, and closed at 78.85 on Friday, March 15, 2024. It was the worst weekly loss since January 5, 2024. RHI was trading at average weekly trading volume.

RHI is a member of Industrials Sector. Industrials is the most overbought sector. RHI is a member of Human Resource & Employment Services Industry. Human Resource & Employment Services is the ninth most oversold industry. 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 RHI long-term trend chart]
A long-term uptrend had started on May 31, 2023 at 64.65 and reached 88.39 on December 29, 2023. RHI gained -23.74 points, or -36.72%, in 30 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 75.74 and resistance is at 90.00. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a long-term trend.

Medium-term trend: [See RHI medium-term trend chart]
A medium-term downtrend had started on December 29, 2023 at 88.39 and reached 77.62 on March 6, 2024. RHI lost 10.77 points, or 12.18%, in 9 weeks. The price is now at the 11.42% retracement level.

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

The weekly MACD line is below its signal line since February 2, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.

Short-term trend: [See RHI short-term trend chart]
A short-term downtrend had started on March 8, 2024 at 81.86 and reached 78.25 on March 15, 2024. RHI lost 3.61 points, or 4.41%, in 7 days. The price is now at the 16.62% retracement level.

Daily Technical Indicators: [See RHI daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold 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 link to access Williams' Percentage Range help.

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

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 4.06% on Friday. It is 60.85% lower than one year average. It indicates the period of low volatility of the stock price. 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) 43.27
Williams' Percentage Range (W%R) 88.80
Oversold
Lane's Stochastic (%D-Slow) 38.27
Greed/Fear Indicator (GFI) 30.91
Moving Average Converg./Diverg. (MACD) -0.29
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 39.08
Williams' Percentage Range (W%R) 56.00
Lane's Stochastic (%D-Slow) 29.01
Greed/Fear Indicator (GFI) 37.98
Moving Average Converg./Diverg. (MACD) 1.44
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 90.00
Upper Bollinger Band 81.79
Parabolic System 81.33
50 Day Moving Average 80.68
20 Day Moving Average 80.16
Weekly Stochastic Crossing 79.22
Daily Stochastic Crossing 79.20
Price 78.85
Lower Bollinger Band 78.57
Quarterly Trendline Support 75.74
Sector and Industry
Description Name Rank
Sector Industrials 12
Industry Human Resource & Employment Services 9
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 81.86
High Date 03/08/2024
Low 78.25
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 81.86
High Date 03/08/2024
Low 78.25
Low Date 03/15/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 88.39
High Date 12/29/2023
Low 77.62
Low Date 03/06/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 90.00
Support 75.74
Low 64.65
Low Date 05/31/2023
High 88.39
High Date 12/29/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 125.77
High Date 02/09/2022
Low 64.65
Low Date 05/31/2023
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.