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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- 9/22/2023 -
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IQVIA Hold (IQV) Technical Analysis

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Summary:
Weekly :Weekly  MACD line has moved below its signal lineBroken trend support line
Daily :Relative Strength Index and Williams' Percentage Range oversoldLane's Stochastic is strongly oversold
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It was the negative week for the IQVIA Hold (IQV). During the week, the IQV dropped -12.96 points, or -6.12%, and closed at 198.75 on Friday, September 22, 2023. It was the worst weekly loss since April 28, 2023. IQV was trading at average weekly trading volume.

Long-term trend: [See IQV long-term trend chart]
A long-term uptrend had started on April 27, 2023 at 177.00 and reached 233.88 on July 25, 2023. IQV gained -56.88 points, or -32.14%, in 12 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (220.19) 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. IQV 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 IQV medium-term trend chart]
A medium-term downtrend had started on July 25, 2023 at 233.88 and reached 195.97 on September 22, 2023. IQV lost 37.91 points, or 16.21%, in 8 weeks. The price is now at the 7.33% retracement level.

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

During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. 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 August 30, 2023 at 227.14 and reached 195.97 on September 22, 2023. IQV lost 31.17 points, or 13.72%, in 23 days. The price is now at the 8.92% retracement level.

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

The daily MACD line is below its signal line since September 7, 2023. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 10.55
Oversold
Williams' Percentage Range (W%R) 89.70
Oversold
Lane's Stochastic (%D-Slow) 6.12
Strong Oversold
Greed/Fear Indicator (GFI) 8.98
Strong Oversold
Moving Average Converg./Diverg. (MACD) -2.33
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 40.20
Williams' Percentage Range (W%R) 69.20
Lane's Stochastic (%D-Slow) 27.66
Greed/Fear Indicator (GFI) 33.27
Moving Average Converg./Diverg. (MACD) 2.79
Trading Signals
Description Value Chart
Upper Bollinger Band 227.53
Monthly Trendline Resistance 222.99
Monthly Trendline Support 220.19
50 Day Moving Average 218.57
20 Day Moving Average 215.23
Parabolic System 210.51
Weekly Stochastic Crossing 204.91
Price 198.75
Daily Stochastic Crossing 197.65
Lower Bollinger Band 197.02
Sector and Industry
Description Name Rank
Sector Health Care 6
Industry Life Sciences Tools & Services 28
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 227.14
High Date 08/30/2023
Low 195.97
Low Date 09/22/2023
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 233.88
High Date 07/25/2023
Low 195.97
Low Date 09/22/2023
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 222.99
Support 220.19
Low 177.00
Low Date 04/27/2023
High 233.88
High Date 07/25/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 165.75
Low Date 10/13/2022
High 241.86
High Date 02/02/2023
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.