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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Microsoft Corp. (MSFT) Technical Analysis

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Summary:
Weekly :Overbought sector
Daily :Daily  MACD line has moved below its signal lineLane's Stochastic is oversold
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It was the negative week for the Microsoft Corp. (MSFT). During the week, the MSFT dropped -13.21 points, or -4.00%, and closed at 317.01 on Friday, September 22, 2023. Weekly volume was -22% below average.

MSFT is a member of Information Technology Sector. Information Technology is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See MSFT long-term trend chart]
A long-term uptrend had started on November 4, 2022 at 213.43 and reached 366.78 on July 18, 2023. MSFT gained -153.35 points, or -71.85%, in 36 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 244.44 and resistance is at 399.67. 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 long-term trend.

Medium-term trend: [See MSFT medium-term trend chart]
A medium-term downtrend had started on July 18, 2023 at 366.78 and reached 311.55 on August 18, 2023. MSFT lost 55.23 points, or 15.06%, in 4 weeks. The price is now at the 9.89% retracement level.

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

The weekly MACD line is below its signal line since August 4, 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 MSFT short-term trend chart]
A short-term downtrend had started on September 14, 2023 at 340.86 and reached 315.00 on September 21, 2023. MSFT lost 25.86 points, or 7.59%, in 7 days. The price is now at the 7.77% retracement level.

Daily Technical Indicators: [See MSFT daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily 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.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 38.66
Williams' Percentage Range (W%R) 75.60
Lane's Stochastic (%D-Slow) 14.10
Oversold
Greed/Fear Indicator (GFI) 25.73
Moving Average Converg./Diverg. (MACD) 0.05
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 35.61
Williams' Percentage Range (W%R) 71.70
Lane's Stochastic (%D-Slow) 29.26
Greed/Fear Indicator (GFI) 34.40
Moving Average Converg./Diverg. (MACD) 15.39
Trading Signals
Description Value Chart
Upper Bollinger Band 339.13
Parabolic System 332.95
50 Day Moving Average 330.95
20 Day Moving Average 329.03
Weekly Stochastic Crossing 320.94
Daily Stochastic Crossing 318.35
Price 317.01
Lower Bollinger Band 316.07
Sector and Industry
Description Name Rank
Sector Information Technology 10
Industry Application Software 92
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 340.86
High Date 09/14/2023
Low 315.00
Low Date 09/21/2023
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 340.86
High Date 09/14/2023
Low 315.00
Low Date 09/21/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 366.78
High Date 07/18/2023
Low 311.55
Low Date 08/18/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 399.67
Support 244.44
Low 213.43
Low Date 11/04/2022
High 366.78
High Date 07/18/2023
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 14.87
Low Date 03/06/2009
High 366.78
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.