The Greedy Trader Weekly Analysis
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Uptrend Support

Uptrend Support 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. Stock market alert is a warning signal. Uptrend Support stock alert indicates that price is near long-term support trendline and probability of short-term trend reversal is high. The strategy here is to take advantage of established uptrend price pullback and entering the long position just prior to the continuation of the trend. The strategy has relatively low risk.

Uptrend Support

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- 3/15/2024 -
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PACCAR Inc. (PCAR) Technical Analysis

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Summary:
Weekly :Overbought sectorRelative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overboughtBroken trend resistance line
Daily :MACD bearish divergenceThe price is above the upper Bollinger Band
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It was a tenth consecutive positive week for the PACCAR Inc. (PCAR). During the week, the PCAR gained 3.68 points, or 3.21%, and closed at 118.33 on Friday, March 15, 2024. It was the best weekly gain since January 26, 2024. Weekly volume was 27% above average.

PCAR 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 PCAR long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 20.38 and reached 118.94 on March 15, 2024. PCAR gained -98.56 points, or -483.61%, in 784 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (67.90) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 PCAR medium-term trend chart]
A medium-term uptrend had started on April 5, 2023 at 67.48 and reached 118.94 on March 15, 2024. PCAR gained -51.46 points, or -76.26%, in 49 weeks. Price is near the trend high.

Weekly Technical Indicators: [See PCAR weekly technical indicators chart]
Weekly Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index or strongly overbought weekly Williams' Percentage Range and Lane's Stochastic. 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, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since June 2, 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 PCAR short-term trend chart]
A short-term uptrend had started on January 4, 2024 at 92.69 and reached 118.94 on March 15, 2024. PCAR gained -26.25 points, or -28.32%, in 71 days. The chart has formed a Rising Channel chart pattern. The trend support level is at 115.77 and resistance is at 118.84. 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 short-term trend.

Daily Technical Indicators: [See PCAR daily technical indicators chart]
Daily technical indicators are neutral. Daily MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.

The daily MACD line is above its signal line since March 14, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 69.34
Williams' Percentage Range (W%R) 20.00
Lane's Stochastic (%D-Slow) 71.66
Greed/Fear Indicator (GFI) 73.66
Moving Average Converg./Diverg. (MACD) 3.12 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 86.93
Overbought
Williams' Percentage Range (W%R) 6.30
Strong Overbought
Lane's Stochastic (%D-Slow) 94.64
Strong Overbought
Greed/Fear Indicator (GFI) 86.47
Overbought
Moving Average Converg./Diverg. (MACD) 5.25
Trading Signals
Description Value Chart
Weekly Trendline Resistance 118.84
Price 118.33
Upper Bollinger Band 117.94
Weekly Stochastic Crossing 117.57
Daily Stochastic Crossing 117.36
Weekly Trendline Support 115.77
20 Day Moving Average 112.67
Parabolic System 112.21
Lower Bollinger Band 106.79
50 Day Moving Average 105.14
Yearly Trendline Resistance 97.58
Sector and Industry
Description Name Rank
Sector Industrials 12
Industry Construction Machinery & Heavy Trucks 123
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 112.32
Low Date 03/11/2024
High 118.94
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 118.84
Support 115.77
Low 92.69
Low Date 01/04/2024
High 118.94
High Date 03/15/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 80.94
Low Date 11/01/2023
High 118.94
High Date 03/15/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 67.48
Low Date 04/05/2023
High 118.94
High Date 03/15/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 97.58
Support 67.90
Low 20.38
Low Date 03/06/2009
High 118.94
High Date 03/15/2024
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.