The Greedy Trader Weekly Analysis
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Downtrend Resistance
Downtrend 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. Stock market alert is a warning signal. Downtrend Resistance stock alert indicates that price is near long-term resistance trendline and probability of short-term trend reversal is high.

The strategy is based on selling long (or taking short) position on downtrend testing resistance. The strategy has low to medium risk and average reword.

Downtrend Resistance

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- 3/15/2024 -
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Republic Services Inc. (RSG) Technical Analysis

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range and Lane's Stochastic are overboughtRelative Strength Index is strongly overboughtBroken trend resistance lineBroken trend resistance line
Daily :Broken trend support lineA Parabolic SAR indicator is below and near the priceThe price touches the upper Bollinger Band
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It was a second consecutive positive week for the Republic Services Inc. (RSG). During the week, the RSG gained 2.12 points, or 1.15%, and closed at 186.31 on Friday, March 15, 2024. Weekly volume was -17% below average.

RSG 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 RSG long-term trend chart]
A long-term uptrend had started on March 10, 2009 at 15.05 and reached 192.57 on February 28, 2024. RSG gained -177.52 points, or -1179.53%, in 781 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (80.51) 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 RSG medium-term trend chart]
A medium-term uptrend had started on August 9, 2011 at 24.72 and reached 192.57 on February 28, 2024. RSG gained -167.85 points, or -679.00%, in 655 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (84.21) 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 medium-term trend.

Weekly Technical Indicators: [See RSG weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought while Relative Strength Index is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic or strongly overbought weekly Relative Strength Index. 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 November 3, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.

Short-term trend: [See RSG short-term trend chart]
A short-term uptrend had started on October 3, 2023 at 140.23 and reached 192.57 on February 28, 2024. RSG gained -52.34 points, or -37.32%, in 148 days. The chart has formed a Rising Channel chart pattern. The uptrend support line (187.73) is broken. A broken support is considered to be a long-term bearish 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 support in a short-term trend.

Daily Technical Indicators: [See RSG daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since March 4, 2024. The distance between MACD and the signal line is low and getting smaller.

A Parabolic SAR (stop and reversal) indicator (187.58) comes close to the price (186.31). 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.

The price touches the upper 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) 57.79
Williams' Percentage Range (W%R) 46.10
Lane's Stochastic (%D-Slow) 75.58
Greed/Fear Indicator (GFI) 62.44
Moving Average Converg./Diverg. (MACD) 3.15
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 90.44
Strong Overbought
Williams' Percentage Range (W%R) 12.10
Overbought
Lane's Stochastic (%D-Slow) 83.54
Overbought
Greed/Fear Indicator (GFI) 80.98
Overbought
Moving Average Converg./Diverg. (MACD) 7.37
Trading Signals
Description Value Chart
Weekly Trendline Resistance 195.75
Weekly Stochastic Crossing 187.93
Weekly Trendline Support 187.73
Parabolic System 187.58
Upper Bollinger Band 186.38
Daily Stochastic Crossing 186.34
Price 186.31
20 Day Moving Average 184.08
Lower Bollinger Band 179.47
50 Day Moving Average 175.77
Monthly Trendline Resistance 156.77
Sector and Industry
Description Name Rank
Sector Industrials 12
Industry Environmental & Facilities Services 120
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 182.04
Low Date 03/01/2024
High 186.78
High Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 195.75
Support 187.73
Low 140.23
Low Date 10/03/2023
High 192.57
High Date 02/28/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 156.77
Support 145.13
Low 120.58
Low Date 01/20/2023
High 192.57
High Date 02/28/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 137.98
Support 84.21
Low 24.72
Low Date 08/09/2011
High 192.57
High Date 02/28/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 127.83
Support 80.51
Low 15.05
Low Date 03/10/2009
High 192.57
High Date 02/28/2024
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.