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Uptrend Broken Support

Uptrend Broken 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 Broken Support alert is a confirmation that long term uptrend reversal is completed and a new downtrend 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 support trendline. This point is considered as a second chance to sell long position (or open short positions) in uptrend reversal.

Uptrend Broken Support

Archive
- 3/15/2024 -
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Public Serv. Enterprise Inc. (PEG) Technical Analysis

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Summary:
Weekly :Oversold sectorBroken trend resistance line
Daily :Stochastic signal line moved below overbought areaThe price has fallen below the Parabolic SAR
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It was the negative week for the Public Serv. Enterprise Inc. (PEG). During the week, the PEG gave back -0.48 points, or -0.75%, and closed at 63.78 on Friday, March 15, 2024. It was the worst weekly loss since January 26, 2024. PEG was trading at average weekly trading volume.

PEG is a member of Utilities Sector. Utilities is the most oversold 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 PEG long-term trend chart]
A long-term downtrend had started on April 21, 2022 at 75.61 and reached 52.51 on October 13, 2022. PEG lost 23.10 points, or 30.55%, in 25 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (54.27) is broken. A broken support is considered to be a long-term bullish signal. 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 PEG medium-term trend chart]
A medium-term uptrend had started on January 24, 2024 at 56.85 and reached 65.57 on March 8, 2024. PEG gained -8.72 points, or -15.34%, in 6 weeks. The price is now at the 20.53% retracement level.

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

The weekly MACD line is above its signal line since March 1, 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 PEG short-term trend chart]
A short-term downtrend had started on March 8, 2024 at 65.57 and reached 63.40 on March 14, 2024. PEG lost 2.17 points, or 3.31%, in 6 days. The price is now at the 17.51% retracement level.

Daily Technical Indicators: [See PEG daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 Lane's Stochastic help.

The daily MACD line is above its signal line since January 31, 2024. The distance between MACD and the signal line is low and getting smaller.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. 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) 72.07
Williams' Percentage Range (W%R) 27.00
Lane's Stochastic (%D-Slow) 56.08
Greed/Fear Indicator (GFI) 67.04
Moving Average Converg./Diverg. (MACD) 1.17
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 54.28
Williams' Percentage Range (W%R) 20.30
Lane's Stochastic (%D-Slow) 68.34
Greed/Fear Indicator (GFI) 67.10
Moving Average Converg./Diverg. (MACD) -0.21
Trading Signals
Description Value Chart
Upper Bollinger Band 66.36
Parabolic System 65.42
Daily Stochastic Crossing 64.46
Price 63.78
Weekly Stochastic Crossing 63.74
20 Day Moving Average 62.66
50 Day Moving Average 60.55
Yearly Trendline Resistance 60.14
Lower Bollinger Band 59.13
Yearly Trendline Support 54.27
Sector and Industry
Description Name Rank
Sector Utilities 1
Industry Electric Utilities 24
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 65.57
High Date 03/08/2024
Low 63.40
Low Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 56.85
Low Date 01/24/2024
High 65.57
High Date 03/08/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 53.71
Low Date 10/03/2023
High 65.57
High Date 03/08/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 52.51
Low Date 10/13/2022
High 65.57
High Date 03/08/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 60.14
Support 54.27
High 75.61
High Date 04/21/2022
Low 52.51
Low Date 10/13/2022
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.