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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- 4/19/2024 -
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Estee Lauder (EL) Technical Analysis

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Summary:
Weekly :Broken trend support linePrice is near the Fibonacci 23.6% retracement level
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 Estee Lauder (EL). During the week, the EL gained 5.61 points, or 4.04%, and closed at 144.41 on Friday, April 19, 2024. EL was trading at average weekly trading volume.

Long-term trend: [See EL long-term trend chart]
A long-term downtrend had started on February 2, 2023 at 283.62 and reached 102.22 on November 1, 2023. EL lost 181.40 points, or 63.96%, in 38 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Medium-term trend: [See EL medium-term trend chart]
A medium-term uptrend had started on November 1, 2023 at 102.22 and reached 159.75 on February 5, 2024. EL gained -57.53 points, or -56.28%, in 13 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (152.08) is broken. A broken support is considered to be a long-term bearish 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 support in a medium-term trend.

Weekly Technical Indicators: [See EL weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since December 1, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See EL short-term trend chart]
A short-term downtrend had started on March 13, 2024 at 159.54 and reached 134.76 on April 16, 2024. EL lost 24.78 points, or 15.53%, in 34 days. The chart has formed a Falling Channel chart pattern.

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

The daily MACD line is below its signal line since April 3, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

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) 38.94
Williams' Percentage Range (W%R) 55.90
Lane's Stochastic (%D-Slow) 37.06
Greed/Fear Indicator (GFI) 40.02
Moving Average Converg./Diverg. (MACD) -1.10
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 56.51
Williams' Percentage Range (W%R) 41.70
Lane's Stochastic (%D-Slow) 47.07
Greed/Fear Indicator (GFI) 53.65
Moving Average Converg./Diverg. (MACD) -4.96
Trading Signals
Description Value Chart
Upper Bollinger Band 153.81
Monthly Trendline Support 152.08
50 Day Moving Average 146.26
Weekly Stochastic Crossing 145.31
Price 144.41
20 Day Moving Average 144.27
Daily Stochastic Crossing 140.09
Parabolic System 134.87
Lower Bollinger Band 134.19
Sector and Industry
Description Name Rank
Sector Consumer Staples 7
Industry Personal Products 59
Daily Trend
Description Value
Direction Down
Chart Pattern Falling Channel
High 159.54
High Date 03/13/2024
Low 134.76
Low Date 04/16/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 159.75
High Date 02/05/2024
Low 134.76
Low Date 04/16/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 174.11
Support 152.08
Low 102.22
Low Date 11/01/2023
High 159.75
High Date 02/05/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 283.62
High Date 02/02/2023
Low 102.22
Low Date 11/01/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 374.20
High Date 01/03/2022
Low 102.22
Low Date 11/01/2023
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.