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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Fortive Corp (FTV) Technical Analysis

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Summary:
Weekly :Relative Strength Index and Williams' Percentage Range are oversold
Daily :Williams' Percentage Range and Lane's Stochastic are oversold
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It was the negative week for the Fortive Corp (FTV). During the week, the FTV dropped -1.69 points, or -2.27%, and closed at 72.75 on Friday, June 7, 2024. It was the worst weekly loss since April 26, 2024. Weekly volume was -23% below average.

Long-term trend: [See FTV long-term trend chart]
A long-term uptrend had started on July 14, 2022 at 52.47 and reached 87.10 on March 22, 2024. FTV gained -34.63 points, or -66.00%, in 88 weeks. The price is now at the 41.44% retracement level.

Medium-term trend: [See FTV medium-term trend chart]
A medium-term downtrend had started on March 22, 2024 at 87.10 and reached 72.42 on June 3, 2024. FTV lost 14.68 points, or 16.85%, in 10 weeks. Price is near the trend low.

Weekly Technical Indicators: [See FTV weekly technical indicators chart]
Weekly Relative Strength Index and Williams' Percentage Range are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Relative Strength Index and 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 Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is below its signal line since April 19, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term downtrend is strong. Use the following link to access a MACD help.

Short-term trend: [See FTV short-term trend chart]
A short-term downtrend had started on May 15, 2024 at 78.32 and reached 72.42 on June 3, 2024. FTV lost 5.90 points, or 7.53%, in 19 days. The price is now at the 5.59% retracement level.

Daily Technical Indicators: [See FTV daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Use the following link to access Lane's Stochastic help.

The daily MACD line is below its signal line since May 28, 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 26.91
Williams' Percentage Range (W%R) 88.30
Oversold
Lane's Stochastic (%D-Slow) 15.30
Oversold
Greed/Fear Indicator (GFI) 17.97
Oversold
Moving Average Converg./Diverg. (MACD) -1.37
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 12.55
Oversold
Williams' Percentage Range (W%R) 84.30
Oversold
Lane's Stochastic (%D-Slow) 21.82
Greed/Fear Indicator (GFI) 23.57
Moving Average Converg./Diverg. (MACD) 1.61
Trading Signals
Description Value Chart
Upper Bollinger Band 78.74
50 Day Moving Average 78.25
20 Day Moving Average 75.36
Weekly Stochastic Crossing 74.66
Parabolic System 74.63
Daily Stochastic Crossing 72.82
Price 72.75
Lower Bollinger Band 71.37
Sector and Industry
Description Name Rank
Sector Industrials 3
Industry Industrial Machinery 41
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 72.42
Low Date 06/03/2024
High 73.97
High Date 06/06/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 78.32
High Date 05/15/2024
Low 72.42
Low Date 06/03/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 87.10
High Date 03/22/2024
Low 72.42
Low Date 06/03/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 52.47
Low Date 07/14/2022
High 87.10
High Date 03/22/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 37.31
Low Date 03/18/2020
High 87.10
High Date 03/22/2024
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.