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.

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- 9/22/2023 -
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The Cooper Companies (COO) Technical Analysis

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Summary:
Weekly :Broken trend support line - Downtrend exhaustionLane's Stochastic oversoldWilliams' Percentage Range is strongly oversoldPrice is near the Fibonacci 38.2% retracement level
Daily :Relative Strength Index oversoldWilliams' Percentage Range and Lane's Stochastic are strongly oversoldMACD bullish divergenceBullish Homing Pigeon Candlestick
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It was the negative week for the The Cooper Companies (COO). During the week, the COO dropped -13.49 points, or -3.94%, and closed at 328.87 on Friday, September 22, 2023. Weekly volume was -46% below average.

Long-term trend: [See COO long-term trend chart]
A long-term downtrend had started on September 3, 2021 at 463.38 and reached 244.22 on October 13, 2022. COO lost 219.16 points, or 47.30%, in 57 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Medium-term trend: [See COO medium-term trend chart]
A medium-term downtrend had started on July 17, 2023 at 399.62 and reached 326.18 on September 22, 2023. COO lost 73.44 points, or 18.38%, in 9 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend support line (338.32) is broken, while daily and weekly technical indicators are oversold. Downtrend 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 support in a medium-term trend.

Weekly Technical Indicators: [See COO weekly technical indicators chart]
Weekly Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Lane's Stochastic or strongly oversold 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is below its signal line since August 4, 2023. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.

Short-term trend: [See COO short-term trend chart]
A short-term downtrend had started on August 30, 2023 at 383.14 and reached 326.18 on September 22, 2023. COO lost 56.96 points, or 14.87%, in 23 days. Price is near the trend low.

Daily Technical Indicators: [See COO daily technical indicators chart]
Daily Relative Strength Index is oversold while Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index or strongly oversold daily Williams' Percentage Range and Lane's Stochastic. Daily MACD has bullish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Relative Strength Index help.

The daily MACD line is below its signal line since August 31, 2023. This is an indication that the short-term trend is down.

Candlestick pattern: [See COO candlestick chart pattern]
On Friday the chart has formed a Bullish Homing Pigeon Candlestick pattern. A Bullish Homing Pigeon pattern occurs in a downtrend. Market usually has a tendency to enter into a congestion phase following a Homing Pigeon pattern.The reliability of the Bullish Homing Pigeon is medium. Use the Technical Stock Screener to see the list of stocks that had a Bullish Homing Pigeon Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 16.40
Oversold
Williams' Percentage Range (W%R) 94.60
Strong Oversold
Lane's Stochastic (%D-Slow) 6.19
Strong Oversold
Greed/Fear Indicator (GFI) 9.34
Strong Oversold
Moving Average Converg./Diverg. (MACD) -9.69 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 34.59
Williams' Percentage Range (W%R) 95.80
Strong Oversold
Lane's Stochastic (%D-Slow) 12.67
Oversold
Greed/Fear Indicator (GFI) 17.76
Oversold
Moving Average Converg./Diverg. (MACD) 7.44
Trading Signals
Description Value Chart
Upper Bollinger Band 380.86
Monthly Trendline Resistance 374.92
50 Day Moving Average 371.15
20 Day Moving Average 352.28
Parabolic System 338.77
Monthly Trendline Support 338.32
Weekly Stochastic Crossing 333.58
Price 328.87
Daily Stochastic Crossing 327.78
Lower Bollinger Band 318.01
Sector and Industry
Description Name Rank
Sector Health Care 6
Industry Health Care Supplies 13
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 383.14
High Date 08/30/2023
Low 326.18
Low Date 09/22/2023
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 383.14
High Date 08/30/2023
Low 326.18
Low Date 09/22/2023
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Broken Support
Resistance 374.92
Support 338.32
High 399.62
High Date 07/17/2023
Low 326.18
Low Date 09/22/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 244.22
Low Date 10/13/2022
High 399.62
High Date 07/17/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 463.38
High Date 09/03/2021
Low 244.22
Low Date 10/13/2022
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.