The Greedy Trader Weekly Analysis
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Downtrend Broken Resistance

Downtrend Broken 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. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend 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 resistance line. This point is considered as a second chance to participate in downtrend reversal.

Downtrend Broken Resist.

Archive
- 7/12/2024 -
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The Cooper Companies (COO) Technical Analysis

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Summary:
Weekly :Oversold industryBroken trend resistance lineRelative Strength Index and Lane's Stochastic bullish divergence
Daily :Stochastic signal line moved above oversold areaDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price moved above the moving average in the center of the Bollinger BandsThe period of low volatility of the stock price
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It was a first positive week after 4 consecutive negative weeks for the The Cooper Companies (COO). During the week, the COO gained 4.91 points, or 5.72%, and closed at 90.81 on Friday, July 12, 2024. It was the best weekly gain since March 1, 2024. Weekly volume was 159% above average.

COO is a member of Health Care Supplies Industry. Health Care Supplies is the eighth most oversold industry. 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 COO long-term trend chart]
A long-term downtrend had started on July 17, 2023 at 399.62 and reached 84.76 on July 5, 2024. COO lost 314.86 points, or 78.79%, in 50 weeks. Price is near the trend low.

Medium-term trend: [See COO medium-term trend chart]
A medium-term downtrend had started on May 16, 2024 at 98.58 and reached 84.76 on July 5, 2024. COO lost 13.82 points, or 14.02%, in 7 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (83.39) 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 medium-term trend.

Weekly Technical Indicators: [See COO weekly technical indicators chart]
Weekly technical indicators are neutral. Weekly Relative Strength Index and Lane's Stochastic have bullish divergence. Use the following links to access the Relative Strength Index and Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index and Lane's Stochastic bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 links to access Lane's Stochastic and Relative Strength Index help.

The weekly MACD line is above its signal line since May 31, 2024. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.

Short-term trend: [See COO short-term trend chart]
A short-term uptrend had started on July 5, 2024 at 84.76 and reached 91.60 on July 12, 2024. COO gained -6.84 points, or -8.07%, in 7 days. The price is now at the 11.55% retracement level.

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

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

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 distance between the Bollinger Bands is falling, and it was 12.42% on Friday. It is 70.90% lower than one year average. It indicates the period of low volatility of the stock price. 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) 47.15
Williams' Percentage Range (W%R) 60.30
Lane's Stochastic (%D-Slow) 45.11
Greed/Fear Indicator (GFI) 43.97
Moving Average Converg./Diverg. (MACD) -1.98
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 38.77
Bullish
Williams' Percentage Range (W%R) 79.00
Lane's Stochastic (%D-Slow) 28.16
Bullish
Greed/Fear Indicator (GFI) 33.14
Moving Average Converg./Diverg. (MACD) -56.66
Trading Signals
Description Value Chart
Upper Bollinger Band 94.55
50 Day Moving Average 92.01
Price 90.81
Weekly Trendline Resistance 89.94
20 Day Moving Average 88.88
Daily Stochastic Crossing 88.34
Weekly Stochastic Crossing 87.61
Parabolic System 84.95
Weekly Trendline Support 83.39
Lower Bollinger Band 83.29
Sector and Industry
Description Name Rank
Sector Health Care 6
Industry Health Care Supplies 8
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 84.76
Low Date 07/05/2024
High 91.60
High Date 07/12/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 89.94
Support 83.39
High 98.58
High Date 05/16/2024
Low 84.76
Low Date 07/05/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 393.40
High Date 01/22/2024
Low 84.76
Low Date 07/05/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 399.62
High Date 07/17/2023
Low 84.76
Low Date 07/05/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 463.38
High Date 09/03/2021
Low 84.76
Low Date 07/05/2024
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.