The Greedy Trader Weekly Analysis
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Yearly Price vs. Fibonacci:Near 50.0% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 5/10/2024 -
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Invesco Senior Loan ETF (BKLN) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range is overbought
Daily :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtA Parabolic SAR indicator is above and near the pricePrice is close to the 50 Day Moving AverageBroken trend resistance lineThe price touches the upper Bollinger Band
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It was a second consecutive positive week for the Invesco Senior Loan ETF (BKLN). During the week, the BKLN climbed 0.03 points, or 0.14%, and closed at 21.20 on Friday, May 10, 2024. Weekly volume was 87% above average.

Long-term trend: [See BKLN long-term trend chart]
A long-term uptrend had started on September 30, 2022 at 20.06 and reached 21.27 on September 15, 2023. BKLN gained -1.21 points, or -6.03%, in 50 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 21.10 and resistance is at 21.32. 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 long-term trend.

Medium-term trend: [See BKLN medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 20.76 and reached 21.25 on March 13, 2024. BKLN gained -0.49 points, or -2.36%, in 19 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 21.16 and resistance is at 21.27. 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 BKLN 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 April 26, 2024. 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 BKLN short-term trend chart]
A short-term downtrend had started on March 13, 2024 at 21.25 and reached 20.96 on April 22, 2024. BKLN lost 0.29 points, or 1.36%, in 40 days. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (20.90) 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. BKLN 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 short-term trend.

Daily Technical Indicators: [See BKLN daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since May 2, 2024.

A Parabolic SAR (stop and reversal) indicator (21.1) comes close to the price (21.20). 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.

Price is close to the 50 Day Moving Average. While daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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) 75.00
Williams' Percentage Range (W%R) 3.70
Strong Overbought
Lane's Stochastic (%D-Slow) 87.27
Overbought
Greed/Fear Indicator (GFI) 86.19
Overbought
Moving Average Converg./Diverg. (MACD) 0.01
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 61.54
Williams' Percentage Range (W%R) 10.30
Overbought
Lane's Stochastic (%D-Slow) 49.38
Greed/Fear Indicator (GFI) 64.02
Moving Average Converg./Diverg. (MACD) 0.03
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 21.32
Monthly Trendline Resistance 21.27
Upper Bollinger Band 21.26
Price 21.20
Daily Stochastic Crossing 21.20
Monthly Trendline Support 21.16
50 Day Moving Average 21.13
20 Day Moving Average 21.11
Quarterly Trendline Support 21.10
Parabolic System 21.10
Weekly Stochastic Crossing 21.09
Weekly Trendline Resistance 21.03
Lower Bollinger Band 21.01
Weekly Trendline Support 20.90
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Low 20.96
Low Date 04/22/2024
High 21.23
High Date 05/07/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 21.03
Support 20.90
High 21.25
High Date 03/13/2024
Low 20.96
Low Date 04/22/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 21.27
Support 21.16
Low 20.76
Low Date 10/27/2023
High 21.25
High Date 03/13/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 21.32
Support 21.10
Low 20.06
Low Date 09/30/2022
High 21.27
High Date 09/15/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 22.20
High Date 01/14/2022
Low 20.06
Low Date 09/30/2022
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.