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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- 7/19/2024 -
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IQVIA Hold (IQV) Technical Analysis

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Summary:
Weekly :Broken trend resistance lineStochastic signal line moved above oversold area
Daily :Price is near the Fibonacci 38.2% retracement level
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It was a second consecutive positive week for the IQVIA Hold (IQV). During the week, the IQV climbed 0.40 points, or 0.18%, and closed at 224.57 on Friday, July 19, 2024. IQV was trading at average weekly trading volume.

Long-term trend: [See IQV long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 165.75 and reached 261.73 on March 8, 2024. IQV gained -95.98 points, or -57.91%, in 73 weeks. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The trend support level is at 168.55 and resistance is at 268.31. 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 Right-Angled, Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Ascending Wedge pattern in a long-term trend.

Medium-term trend: [See IQV medium-term trend chart]
A medium-term downtrend had started on March 8, 2024 at 261.73 and reached 205.16 on July 5, 2024. IQV lost 56.57 points, or 21.61%, in 17 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (201.93) 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 medium-term trend.

Weekly Technical Indicators: [See IQV weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. 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 Lane's Stochastic help.

The weekly MACD line is below its signal line since April 12, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.

Short-term trend: [See IQV short-term trend chart]
A short-term uptrend had started on July 5, 2024 at 205.16 and reached 237.41 on July 17, 2024. IQV gained -32.25 points, or -15.72%, in 12 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

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

The daily MACD line is above its signal line since July 5, 2024. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 65.88
Williams' Percentage Range (W%R) 35.30
Lane's Stochastic (%D-Slow) 76.14
Greed/Fear Indicator (GFI) 68.92
Moving Average Converg./Diverg. (MACD) 0.23
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 44.31
Williams' Percentage Range (W%R) 63.10
Lane's Stochastic (%D-Slow) 25.49
Greed/Fear Indicator (GFI) 35.87
Moving Average Converg./Diverg. (MACD) 0.38
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 268.31
Upper Bollinger Band 235.28
Daily Stochastic Crossing 229.40
Price 224.57
Parabolic System 221.79
50 Day Moving Average 220.38
20 Day Moving Average 216.21
Weekly Stochastic Crossing 214.74
Monthly Trendline Resistance 213.83
Lower Bollinger Band 203.66
Monthly Trendline Support 201.93
Sector and Industry
Description Name Rank
Sector Health Care 5
Industry Life Sciences Tools & Services 24
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 237.41
High Date 07/17/2024
Low 222.01
Low Date 07/19/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 205.16
Low Date 07/05/2024
High 237.41
High Date 07/17/2024
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 213.83
Support 201.93
High 261.73
High Date 03/08/2024
Low 205.16
Low Date 07/05/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Right-Angled, Ascending Wedge
Status Valid
Resistance 268.31
Support 168.55
Low 165.75
Low Date 10/13/2022
High 261.73
High Date 03/08/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 285.61
High Date 12/30/2021
Low 165.75
Low Date 10/13/2022
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.