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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IQVIA Hold (IQV) Technical Analysis

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Summary:
Weekly :Lane's Stochastic is oversold
Daily :
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It was a first positive week after 3 consecutive negative weeks for the IQVIA Hold (IQV). During the week, the IQV climbed 0.14 points, or 0.06%, and closed at 219.23 on Friday, June 7, 2024. Weekly volume was 18% above average.

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 168.37 and resistance is at 266.28. 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 212.34 on June 4, 2024. IQV lost 49.39 points, or 18.87%, in 12 weeks. The chart has formed a Falling Wedge chart pattern. The trend support level is at 217.88 and resistance is at 228.51. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See IQV weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 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. 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 IQV short-term trend chart]
A short-term downtrend had started on May 16, 2024 at 236.72 and reached 212.34 on June 4, 2024. IQV lost 24.38 points, or 10.30%, in 19 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 207.62 and resistance is at 223.20. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a short-term trend.

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

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) 27.98
Williams' Percentage Range (W%R) 73.60
Lane's Stochastic (%D-Slow) 31.21
Greed/Fear Indicator (GFI) 28.53
Moving Average Converg./Diverg. (MACD) -3.33
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 28.95
Williams' Percentage Range (W%R) 76.20
Lane's Stochastic (%D-Slow) 18.68
Oversold
Greed/Fear Indicator (GFI) 26.85
Moving Average Converg./Diverg. (MACD) 5.41
Trading Signals
Description Value Chart
Upper Bollinger Band 236.21
50 Day Moving Average 231.44
Monthly Trendline Resistance 228.51
20 Day Moving Average 226.09
Parabolic System 223.91
Weekly Trendline Resistance 223.20
Price 219.23
Weekly Stochastic Crossing 218.61
Monthly Trendline Support 217.88
Daily Stochastic Crossing 217.18
Lower Bollinger Band 213.11
Weekly Trendline Support 207.62
Sector and Industry
Description Name Rank
Sector Health Care 5
Industry Life Sciences Tools & Services 66
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 212.34
Low Date 06/04/2024
High 221.12
High Date 06/06/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 223.20
Support 207.62
High 236.72
High Date 05/16/2024
Low 212.34
Low Date 06/04/2024
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Valid
Resistance 228.51
Support 217.88
High 261.73
High Date 03/08/2024
Low 212.34
Low Date 06/04/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Right-Angled, Ascending Wedge
Status Valid
Resistance 266.28
Support 168.37
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.