The Greedy Trader Weekly Analysis
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Uptrend Exhaustion

Uptrend Exhaustion 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 Exhaustion alert indicates that long term uptrend is exhausted and probability of long term trend reversal is high. Uptrend exhaustion stock market alert presents relatively low to medium risk - high reword stock pick for overvalued stocks.

The strategy is based on selling (or taking a short) position on anticipation of uptrend reversal.

Uptrend Exhaustion

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- 3/15/2024 -
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Constellation Brands (STZ) Technical Analysis

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Summary:
Weekly :Broken trend resistance line
Daily :Relative Strength Index is overboughtLane's Stochastic is strongly overboughtRelative Strength Index, Lane's Stochastic and MACD bearish divergence20 Day Moving Average has crossed above the 50 Day Moving Average
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It was a fifth consecutive positive week for the Constellation Brands (STZ). During the week, the STZ gained 9.95 points, or 3.86%, and closed at 267.64 on Friday, March 15, 2024. It was the best weekly gain since January 12, 2024. Weekly volume was 10% above average.

Long-term trend: [See STZ long-term trend chart]
A long-term downtrend had started on August 8, 2023 at 273.65 and reached 227.50 on October 13, 2023. STZ lost 46.15 points, or 16.86%, in 9 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (245.67) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. STZ may retest the broken resistance line. It is considered to be a support line now. 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 STZ medium-term trend chart]
A medium-term uptrend had started on October 13, 2023 at 227.50 and reached 267.88 on March 15, 2024. STZ gained -40.38 points, or -17.75%, in 22 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 245.28 and resistance is at 275.01. 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 STZ weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since January 5, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See STZ short-term trend chart]
A short-term uptrend had started on February 7, 2024 at 241.17 and reached 267.88 on March 15, 2024. STZ gained -26.71 points, or -11.08%, in 37 days. Price is near the trend high.

Daily Technical Indicators: [See STZ daily technical indicators chart]
Daily Relative Strength Index is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index or strongly overbought daily Lane's Stochastic. 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. 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 and Relative Strength Index help.

The daily MACD line is above its signal line since February 23, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term uptrend is strong.

During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish 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) 83.86
Overbought Bearish
Williams' Percentage Range (W%R) 34.50
Lane's Stochastic (%D-Slow) 90.94
Strong Overbought Bearish
Greed/Fear Indicator (GFI) 80.11
Overbought
Moving Average Converg./Diverg. (MACD) 2.65 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 74.82
Williams' Percentage Range (W%R) 22.10
Lane's Stochastic (%D-Slow) 55.98
Greed/Fear Indicator (GFI) 65.00
Moving Average Converg./Diverg. (MACD) 0.68
Trading Signals
Description Value Chart
Monthly Trendline Resistance 275.01
Upper Bollinger Band 268.88
Price 267.64
Daily Stochastic Crossing 265.75
Weekly Stochastic Crossing 257.15
Quarterly Trendline Resistance 255.03
Parabolic System 253.96
20 Day Moving Average 252.05
50 Day Moving Average 250.52
Quarterly Trendline Support 245.67
Monthly Trendline Support 245.28
Lower Bollinger Band 239.95
Sector and Industry
Description Name Rank
Sector Consumer Staples 4
Industry Distillers & Vintners 65
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 258.78
Low Date 03/14/2024
High 267.88
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 241.17
Low Date 02/07/2024
High 267.88
High Date 03/15/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 275.01
Support 245.28
Low 227.50
Low Date 10/13/2023
High 267.88
High Date 03/15/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 255.03
Support 245.67
High 273.65
High Date 08/08/2023
Low 227.50
Low Date 10/13/2023
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 104.28
Low Date 03/23/2020
High 273.65
High Date 08/08/2023
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.