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
- 6/7/2024 -
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Expeditors Int'l. (EXPD) Technical Analysis

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Summary:
Weekly :Broken trend resistance lineWeekly  MACD line has moved above its signal lineBroken trend resistance line
Daily :Williams' Percentage Range is overboughtLane's Stochastic is strongly overbought
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It was a third consecutive positive week for the Expeditors Int'l. (EXPD). During the week, the EXPD gained 4.57 points, or 3.78%, and closed at 125.47 on Friday, June 7, 2024. Weekly volume was 27% above average.

Long-term trend: [See EXPD long-term trend chart]
A long-term uptrend had started on October 10, 2012 at 34.20 and reached 137.80 on December 16, 2021. EXPD gained -103.60 points, or -302.92%, in 479 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (96.74) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 EXPD medium-term trend chart]
A medium-term downtrend had started on January 25, 2024 at 131.17 and reached 111.20 on May 1, 2024. EXPD lost 19.97 points, or 15.22%, in 13 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (109.74) 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. EXPD 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 medium-term trend.

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

During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help.

Short-term trend: [See EXPD short-term trend chart]
A short-term uptrend had started on May 1, 2024 at 111.20 and reached 126.47 on June 5, 2024. EXPD gained -15.27 points, or -13.73%, in 35 days. The price is now at the 6.55% retracement level.

Daily Technical Indicators: [See EXPD daily technical indicators chart]
Daily Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range or strongly overbought daily Lane's Stochastic. 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 daily MACD line is above its signal line since May 2, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 74.88
Williams' Percentage Range (W%R) 10.20
Overbought
Lane's Stochastic (%D-Slow) 92.72
Strong Overbought
Greed/Fear Indicator (GFI) 85.80
Overbought
Moving Average Converg./Diverg. (MACD) 1.33
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 59.34
Williams' Percentage Range (W%R) 28.80
Lane's Stochastic (%D-Slow) 63.64
Greed/Fear Indicator (GFI) 62.67
Moving Average Converg./Diverg. (MACD) -0.40
Trading Signals
Description Value Chart
Upper Bollinger Band 126.10
Daily Stochastic Crossing 125.74
Price 125.47
Weekly Stochastic Crossing 121.81
Parabolic System 120.28
20 Day Moving Average 119.68
50 Day Moving Average 117.40
Lower Bollinger Band 114.39
Monthly Trendline Resistance 111.78
Monthly Trendline Support 109.74
Yearly Trendline Resistance 107.24
Sector and Industry
Description Name Rank
Sector Industrials 3
Industry Air Freight & Logistics 61
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 116.08
Low Date 05/23/2024
High 126.47
High Date 06/05/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 111.20
Low Date 05/01/2024
High 126.47
High Date 06/05/2024
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 111.78
Support 109.74
High 131.17
High Date 01/25/2024
Low 111.20
Low Date 05/01/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 86.08
Low Date 09/26/2022
High 131.17
High Date 01/25/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 107.24
Support 96.74
Low 34.20
Low Date 10/10/2012
High 137.80
High Date 12/16/2021
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.