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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Williams Cos. (WMB) Technical Analysis

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is overboughtWeekly  MACD line has moved above its signal line
Daily :Williams' Percentage Range is overboughtRelative Strength Index, Lane's Stochastic and MACD bearish divergenceA Parabolic SAR indicator is above and near the pricePrice is near the Fibonacci 23.6% retracement level
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It was a first positive week for the Williams Cos. (WMB). During the week, the WMB gained 0.95 points, or 2.64%, and closed at 37.00 on Friday, March 15, 2024. Weekly volume was 20% above average.

WMB is a member of Energy Sector. Energy 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 WMB long-term trend chart]
A long-term uptrend had started on March 19, 2020 at 8.41 and reached 37.95 on June 3, 2022. WMB gained -29.54 points, or -351.25%, in 115 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 33.57 and resistance is at 39.54. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.

Medium-term trend: [See WMB medium-term trend chart]
A medium-term uptrend had started on February 14, 2024 at 32.65 and reached 37.36 on March 13, 2024. WMB gained -4.71 points, or -14.43%, in 4 weeks. The price is now at the 7.64% retracement level.

Weekly Technical Indicators: [See WMB weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help.

Short-term trend: [See WMB short-term trend chart]
A short-term uptrend had started on March 7, 2024 at 35.74 and reached 37.36 on March 13, 2024. WMB gained -1.62 points, or -4.53%, in 6 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See WMB daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. Daily Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index, Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following links to access Lane's Stochastic and Relative Strength Index help.

The daily MACD line is above its signal line since February 16, 2024. This is an indication that the short-term trend is up.

A Parabolic SAR (stop and reversal) indicator (36.65) comes close to the price (37.00). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 78.50
Bearish
Williams' Percentage Range (W%R) 18.50
Overbought
Lane's Stochastic (%D-Slow) 75.80
Bearish
Greed/Fear Indicator (GFI) 78.59
Moving Average Converg./Diverg. (MACD) 0.49 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.66
Williams' Percentage Range (W%R) 15.40
Overbought
Lane's Stochastic (%D-Slow) 63.15
Greed/Fear Indicator (GFI) 68.09
Moving Average Converg./Diverg. (MACD) 0.46
Trading Signals
Description Value Chart
Yearly Trendline Resistance 39.54
Upper Bollinger Band 37.83
Price 37.00
Daily Stochastic Crossing 36.96
Parabolic System 36.65
Weekly Stochastic Crossing 36.10
20 Day Moving Average 35.80
50 Day Moving Average 35.04
Lower Bollinger Band 34.08
Yearly Trendline Support 33.57
Sector and Industry
Description Name Rank
Sector Energy 9
Industry Oil & Gas Storage & Transportation 80
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 35.74
Low Date 03/07/2024
High 37.36
High Date 03/13/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 32.65
Low Date 02/14/2024
High 37.36
High Date 03/13/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 37.45
High Date 12/01/2023
Low 32.65
Low Date 02/14/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 27.80
Low Date 03/24/2023
High 37.45
High Date 12/01/2023
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 39.54
Support 33.57
Low 8.41
Low Date 03/19/2020
High 37.95
High Date 06/03/2022
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.