The Greedy Trader Weekly Analysis
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Daily W%R:< 10
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Williams' Percentage Range (W%R)

Williams' %R is an effective momentum indicator that measures overbought/oversold levels. Like other indicators, W%R ranges between 0% and 100% , but in opposite to the other indicators, the 0% indicating overbought and 100% - the oversold stocks. W%R measures the closing price in relation to the recent low/high range. A bullish signal is generated when the W%R has reached 100, five time bars have elapsed, and the W%R has subsequently fallen to 95. A reverse signal is considered as bearish. For the sake of simplicity, the W%R closed above 10% is considered bearish and below 90% - bullish. In trending markets, the W%R stays at one end of the scale and gives false signals to trade against the trend. That is why W%R is not considered a stand-along technique, and it is essential to use it with some sort of trend formation indicators. The divergence between price and W%R rarely occurs and presents an important buy/sell signal. As our research shows, the W%R move to upper or lower bounds can be used as an earliest signal of an impending reversal. Using the Williams %R bullish divergence/bearish divergence, chart patterns, trendlines, support, and resistance lines along with the W%R chart can be very useful.

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- 9/15/2023 -
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Ameriprise Financial (AMP) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is overbought
Daily :Williams' Percentage Range is overboughtA Parabolic SAR indicator is above and near the price
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It was a fourth positive week after 4 consecutive negative weeks for the Ameriprise Financial (AMP). During the week, the AMP climbed 2.07 points, or 0.60%, and closed at 347.12 on Friday, September 15, 2023. AMP was trading at average weekly trading volume.

AMP is a member of Financials Sector. Financials 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 AMP long-term trend chart]
A long-term uptrend had started on November 21, 2008 at 11.74 and reached 358.02 on July 26, 2023. AMP gained -346.28 points, or -2949.57%, in 765 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (143.44) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 AMP medium-term trend chart]
A medium-term uptrend had started on March 18, 2020 at 80.01 and reached 358.02 on July 26, 2023. AMP gained -278.01 points, or -347.47%, in 175 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 302.27 and resistance is at 371.02. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See AMP weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. 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 weekly MACD line is above its signal line since June 16, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.

Short-term trend: [See AMP short-term trend chart]
A short-term downtrend had started on July 26, 2023 at 358.02 and reached 326.98 on August 18, 2023. AMP lost 31.04 points, or 8.67%, in 23 days. The price is now at the 64.88% retracement level.

Daily Technical Indicators: [See AMP daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range.

The daily MACD line is above its signal line since August 29, 2023.

A Parabolic SAR (stop and reversal) indicator (345.77) comes close to the price (347.12). 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 67.81
Williams' Percentage Range (W%R) 12.80
Overbought
Lane's Stochastic (%D-Slow) 74.31
Greed/Fear Indicator (GFI) 76.43
Moving Average Converg./Diverg. (MACD) 0.91
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 67.86
Williams' Percentage Range (W%R) 13.00
Overbought
Lane's Stochastic (%D-Slow) 50.56
Greed/Fear Indicator (GFI) 65.03
Moving Average Converg./Diverg. (MACD) 7.87
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 371.02
Monthly Trendline Resistance 364.11
Upper Bollinger Band 353.60
Daily Stochastic Crossing 347.92
Price 347.12
Parabolic System 345.77
50 Day Moving Average 342.89
Weekly Stochastic Crossing 342.25
20 Day Moving Average 339.48
Lower Bollinger Band 330.88
Monthly Trendline Support 318.09
Quarterly Trendline Support 302.27
Yearly Trendline Resistance 283.47
Sector and Industry
Description Name Rank
Sector Financials 10
Industry Asset Management & Custody Banks 57
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 358.02
High Date 07/26/2023
Low 326.98
Low Date 08/18/2023
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 275.09
Low Date 03/13/2023
High 358.02
High Date 07/26/2023
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 364.11
Support 318.09
Low 219.99
Low Date 07/14/2022
High 358.02
High Date 07/26/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 371.02
Support 302.27
Low 80.01
Low Date 03/18/2020
High 358.02
High Date 07/26/2023
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 283.47
Support 143.44
Low 11.74
Low Date 11/21/2008
High 358.02
High Date 07/26/2023
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.