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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CurrencyShares Swiss Franc Trust (FXF) Technical Analysis

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Summary:
Weekly :Broken trend support line
Daily :A Parabolic SAR indicator is above and near the priceBroken trend resistance linePrice is close to the 50 Day Moving Average
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It was a second consecutive positive week for the CurrencyShares Swiss Franc Trust (FXF). During the week, the FXF climbed 0.13 points, or 0.13%, and closed at 99.42 on Friday, July 12, 2024. Weekly volume was -70% below average.

Long-term trend: [See FXF long-term trend chart]
A long-term uptrend had started on November 3, 2022 at 88.08 and reached 106.75 on December 28, 2023. FXF gained -18.67 points, or -21.20%, in 60 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (103.24) 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 long-term trend.

Medium-term trend: [See FXF medium-term trend chart]
A medium-term uptrend had started on May 1, 2024 at 96.67 and reached 100.76 on June 18, 2024. FXF gained -4.09 points, or -4.23%, in 6 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 98.27 and resistance is at 101.90. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.

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

The weekly MACD line is above its signal line since June 14, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.

Short-term trend: [See FXF short-term trend chart]
A short-term downtrend had started on June 18, 2024 at 100.76 and reached 98.29 on July 2, 2024. FXF lost 2.47 points, or 2.45%, in 14 days. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (98.99) 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 short-term trend.

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

The daily MACD line is below its signal line since June 24, 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.

A Parabolic SAR (stop and reversal) indicator (98.71) comes close to the price (99.42). It indicates that the trend is getting weaker. 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.

Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 49.85
Williams' Percentage Range (W%R) 55.10
Lane's Stochastic (%D-Slow) 69.97
Greed/Fear Indicator (GFI) 54.92
Moving Average Converg./Diverg. (MACD) 0.09
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 54.80
Williams' Percentage Range (W%R) 45.40
Lane's Stochastic (%D-Slow) 67.67
Greed/Fear Indicator (GFI) 59.19
Moving Average Converg./Diverg. (MACD) -0.52
Trading Signals
Description Value Chart
Yearly Trendline Resistance 110.17
Yearly Trendline Support 103.24
Monthly Trendline Resistance 101.90
Upper Bollinger Band 100.12
Weekly Stochastic Crossing 99.50
Price 99.42
20 Day Moving Average 99.29
Daily Stochastic Crossing 99.26
Weekly Trendline Support 98.99
Parabolic System 98.71
50 Day Moving Average 98.68
Weekly Trendline Resistance 98.62
Monthly Trendline Support 98.27
Lower Bollinger Band 98.06
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 98.29
Low Date 07/02/2024
High 99.66
High Date 07/11/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 98.62
Support 98.99
High 100.76
High Date 06/18/2024
Low 98.29
Low Date 07/02/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 101.90
Support 98.27
Low 96.67
Low Date 05/01/2024
High 100.76
High Date 06/18/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 106.75
High Date 12/28/2023
Low 96.67
Low Date 05/01/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 110.17
Support 103.24
Low 88.08
Low Date 11/03/2022
High 106.75
High Date 12/28/2023
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.