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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PPG Industries (PPG) Technical Analysis

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Summary:
Weekly :Overbought sector
Daily :Broken trend support lineWilliams' Percentage Range is oversoldMACD bullish divergenceThe price touches the lower Bollinger Band
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It was the negative week for the PPG Industries (PPG). During the week, the PPG dropped -2.87 points, or -2.04%, and closed at 137.86 on Friday, March 15, 2024. Weekly volume was 49% above average.

PPG is a member of Materials Sector. Materials 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 PPG long-term trend chart]
A long-term downtrend had started on June 7, 2021 at 182.97 and reached 107.06 on June 17, 2022. PPG lost 75.91 points, or 41.49%, in 53 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 124.00 and resistance is at 143.43. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend.

Medium-term trend: [See PPG medium-term trend chart]
A medium-term uptrend had started on June 17, 2022 at 107.06 and reached 152.89 on July 18, 2023. PPG gained -45.83 points, or -42.81%, in 56 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 123.79 and resistance is at 163.75. 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 PPG weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since February 23, 2024. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.

Short-term trend: [See PPG short-term trend chart]
A short-term downtrend had started on December 14, 2023 at 151.16 and reached 136.55 on February 8, 2024. PPG lost 14.61 points, or 9.67%, in 56 days. The chart has formed a Symmetric Triangle chart pattern. The downtrend support line (139.23) is broken. Usually a broken support is considered to be a long-term bearish 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 support in a short-term trend.

Daily Technical Indicators: [See PPG daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range. Daily MACD has bullish 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 bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 link to access Williams' Percentage Range help.

The daily MACD line is below its signal line since March 14, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.

The price touches the lower Bollinger Band. 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) 35.66
Williams' Percentage Range (W%R) 100.00
Strong Oversold
Lane's Stochastic (%D-Slow) 50.49
Greed/Fear Indicator (GFI) 28.72
Moving Average Converg./Diverg. (MACD) -0.39 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 40.60
Williams' Percentage Range (W%R) 44.30
Lane's Stochastic (%D-Slow) 32.59
Greed/Fear Indicator (GFI) 43.61
Moving Average Converg./Diverg. (MACD) 1.67
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 163.75
Upper Bollinger Band 143.90
Yearly Trendline Resistance 143.43
Monthly Trendline Resistance 143.35
Parabolic System 143.01
Weekly Trendline Resistance 142.95
Monthly Trendline Support 142.35
50 Day Moving Average 141.89
20 Day Moving Average 141.03
Weekly Stochastic Crossing 139.74
Daily Stochastic Crossing 139.67
Weekly Trendline Support 139.23
Price 137.86
Lower Bollinger Band 137.49
Yearly Trendline Support 124.00
Quarterly Trendline Support 123.79
Sector and Industry
Description Name Rank
Sector Materials 10
Industry Specialty Chemicals 42
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 144.99
High Date 02/27/2024
Low 137.50
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 142.95
Support 139.23
High 151.16
High Date 12/14/2023
Low 136.55
Low Date 02/08/2024
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 143.35
Support 142.35
Low 120.32
Low Date 10/27/2023
High 151.16
High Date 12/14/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 163.75
Support 123.79
Low 107.06
Low Date 06/17/2022
High 152.89
High Date 07/18/2023
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Valid
Resistance 143.43
Support 124.00
High 182.97
High Date 06/07/2021
Low 107.06
Low Date 06/17/2022
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.