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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- 4/19/2024 -
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ConAgra Foods, Inc. (CAG) Technical Analysis

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Summary:
Weekly :Broken trend resistance line
Daily :The price has risen above the Parabolic SARThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week for the ConAgra Foods, Inc. (CAG). During the week, the CAG gained 1.31 points, or 4.47%, and closed at 30.62 on Friday, April 19, 2024. Weekly volume was 13% above average.

Long-term trend: [See CAG long-term trend chart]
A long-term downtrend had started on December 14, 2023 at 30.69 and reached 26.62 on February 14, 2024. CAG lost 4.07 points, or 13.26%, in 8 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend resistance line (24.22) 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 CAG medium-term trend chart]
A medium-term uptrend had started on February 14, 2024 at 26.62 and reached 31.57 on April 5, 2024. CAG gained -4.95 points, or -18.60%, in 7 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 29.77 and resistance is at 32.50. 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 CAG weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since November 10, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See CAG short-term trend chart]
A short-term downtrend had started on April 5, 2024 at 31.57 and reached 29.27 on April 12, 2024. CAG lost 2.30 points, or 7.29%, in 7 days. The price is now at the 58.70% retracement level.

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

The daily MACD line is below its signal line since April 11, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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) 57.68
Williams' Percentage Range (W%R) 41.80
Lane's Stochastic (%D-Slow) 43.40
Greed/Fear Indicator (GFI) 53.09
Moving Average Converg./Diverg. (MACD) 0.45
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.03
Williams' Percentage Range (W%R) 23.20
Lane's Stochastic (%D-Slow) 75.32
Greed/Fear Indicator (GFI) 68.45
Moving Average Converg./Diverg. (MACD) -0.50
Trading Signals
Description Value Chart
Monthly Trendline Resistance 32.50
Upper Bollinger Band 31.36
Weekly Stochastic Crossing 30.71
Price 30.62
Daily Stochastic Crossing 30.20
20 Day Moving Average 29.98
Monthly Trendline Support 29.77
Parabolic System 29.55
50 Day Moving Average 28.80
Quarterly Trendline Resistance 28.61
Lower Bollinger Band 28.40
Sector and Industry
Description Name Rank
Sector Consumer Staples 7
Industry Packaged Foods & Meats 63
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 29.27
Low Date 04/12/2024
High 30.82
High Date 04/19/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 31.57
High Date 04/05/2024
Low 29.27
Low Date 04/12/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 32.50
Support 29.77
Low 26.62
Low Date 02/14/2024
High 31.57
High Date 04/05/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Broken Resistance
Resistance 28.61
Support 24.22
High 30.69
High Date 12/14/2023
Low 26.62
Low Date 02/14/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 41.30
High Date 01/09/2023
Low 25.16
Low Date 10/06/2023
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.