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
- 9/22/2023 -
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CurrencyShares Swiss Franc Trust (FXF) Technical Analysis

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Summary:
Weekly :Broken trend support line - Downtrend exhaustionWilliams' Percentage Range is oversoldBroken trend support line
Daily :Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are oversoldMACD bullish divergence20 Day Moving Average has crossed above the 50 Day Moving AverageThe price touches the lower Bollinger Band
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It was the negative week for the CurrencyShares Swiss Franc Trust (FXF). During the week, the FXF dropped -1.08 points, or -1.09%, and closed at 98.09 on Friday, September 22, 2023. Weekly volume was -45% 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 103.84 on July 18, 2023. FXF gained -15.76 points, or -17.89%, in 36 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (103.04) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. FXF may retest the broken support line. It is considered to be a resistance 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 support in a long-term trend.

Medium-term trend: [See FXF medium-term trend chart]
A medium-term downtrend had started on July 18, 2023 at 103.84 and reached 98.07 on September 22, 2023. FXF lost 5.77 points, or 5.56%, in 9 weeks. The chart has formed a Falling Channel chart pattern. The downtrend support line (99.02) 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 FXF weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 link to access Williams' Percentage Range help.

The weekly MACD line is below its signal line since August 18, 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 FXF short-term trend chart]
A short-term downtrend had started on September 11, 2023 at 99.92 and reached 98.07 on September 22, 2023. FXF lost 1.85 points, or 1.85%, in 11 days. Price is near the trend low.

Daily Technical Indicators: [See FXF daily technical indicators chart]
Daily Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Relative Strength Index, 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 links to access Lane's Stochastic and Relative Strength Index help.

The daily MACD line is below its signal line since July 26, 2023. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.

The price touches the lower Bollinger Band. 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.

During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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) 9.28
Strong Oversold
Williams' Percentage Range (W%R) 95.90
Strong Oversold
Lane's Stochastic (%D-Slow) 4.41
Strong Oversold
Greed/Fear Indicator (GFI) 5.93
Strong Oversold
Moving Average Converg./Diverg. (MACD) -0.54 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 42.31
Williams' Percentage Range (W%R) 87.00
Oversold
Lane's Stochastic (%D-Slow) 20.73
Greed/Fear Indicator (GFI) 26.93
Moving Average Converg./Diverg. (MACD) 1.21
Trading Signals
Description Value Chart
Yearly Trendline Resistance 105.97
Yearly Trendline Support 103.04
Upper Bollinger Band 101.35
50 Day Moving Average 101.12
Quarterly Trendline Resistance 100.51
20 Day Moving Average 99.78
Parabolic System 99.10
Quarterly Trendline Support 99.02
Weekly Stochastic Crossing 98.77
Daily Stochastic Crossing 98.13
Price 98.09
Lower Bollinger Band 97.97
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 99.92
High Date 09/11/2023
Low 98.07
Low Date 09/22/2023
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 99.92
High Date 09/11/2023
Low 98.07
Low Date 09/22/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 99.92
High Date 09/11/2023
Low 98.07
Low Date 09/22/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Support
Resistance 100.51
Support 99.02
High 103.84
High Date 07/18/2023
Low 98.07
Low Date 09/22/2023
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 105.97
Support 103.04
Low 88.08
Low Date 11/03/2022
High 103.84
High Date 07/18/2023
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.