The Greedy Trader Weekly Analysis
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Quarterly Pattern:Rising Channel
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Channeling Stock - rising channel and falling channel.

Stock channeling technique is one of the most efficient and widely used trading technique. Price channel represents price movement bound by parallel lower (support) and upper (resistance) trend lines. Channels with rising trend lines (rising channel) are considered bullish and the falling channel is considered as bearish . Channels are continuation formations as far as support and resistance are not broken.
Trading technique:
# 1
Buy channeling stock on support and sell on resistance.
# 2 For bullish channel: sell channeling stock when price breakes the stock channeling support line. For bearish channel: buy channeling stock when price breaks the resistance line.
Tips:
# 1 For the best results, stock channeling should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance line.

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- 3/15/2024 -
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Apple Computer (AAPL) Technical Analysis

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range and Lane's Stochastic are oversoldBroken trend support line
Daily :Williams' Percentage Range is oversoldStochastic signal line moved above oversold areaThe price has risen above the Parabolic SAR
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It was a first positive week for the Apple Computer (AAPL). During the week, the AAPL gained 1.89 points, or 1.11%, and closed at 172.62 on Friday, March 15, 2024. Weekly volume was 29% above average.

AAPL is a member of Information Technology Sector. Information Technology is the second 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 AAPL long-term trend chart]
A long-term uptrend had started on January 3, 2023 at 124.17 and reached 199.62 on December 14, 2023. AAPL gained -75.45 points, or -60.76%, in 49 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend support line (185.10) 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. AAPL 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 AAPL medium-term trend chart]
A medium-term downtrend had started on January 24, 2024 at 196.38 and reached 168.49 on March 7, 2024. AAPL lost 27.89 points, or 14.20%, in 6 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 164.28 and resistance is at 177.19. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See AAPL weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range and 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 and Williams' Percentage Range help.

The weekly MACD line is below its signal line since January 26, 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 AAPL short-term trend chart]
A short-term uptrend had started on March 7, 2024 at 168.49 and reached 174.38 on March 11, 2024. AAPL gained -5.89 points, or -3.50%, in 4 days. The price is now at the 29.88% retracement level.

Daily Technical Indicators: [See AAPL daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal.

The daily MACD line is below its signal line since January 30, 2024. The distance between MACD and the signal line is low and getting smaller.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 31.97
Williams' Percentage Range (W%R) 83.80
Oversold
Lane's Stochastic (%D-Slow) 41.69
Greed/Fear Indicator (GFI) 29.96
Moving Average Converg./Diverg. (MACD) -3.74
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 30.59
Williams' Percentage Range (W%R) 83.80
Oversold
Lane's Stochastic (%D-Slow) 16.14
Oversold
Greed/Fear Indicator (GFI) 23.44
Moving Average Converg./Diverg. (MACD) 2.33
Trading Signals
Description Value Chart
Yearly Trendline Resistance 200.45
Upper Bollinger Band 187.17
Yearly Trendline Support 185.10
50 Day Moving Average 183.29
Monthly Trendline Resistance 177.19
20 Day Moving Average 176.77
Price 172.62
Weekly Stochastic Crossing 171.87
Daily Stochastic Crossing 171.13
Parabolic System 168.79
Lower Bollinger Band 165.83
Monthly Trendline Support 164.28
Sector and Industry
Description Name Rank
Sector Information Technology 8
Industry Technology Hardware, Storage & Peripherals 31
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 168.49
Low Date 03/07/2024
High 174.38
High Date 03/11/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 168.49
Low Date 03/07/2024
High 174.38
High Date 03/11/2024
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 177.19
Support 164.28
High 196.38
High Date 01/24/2024
Low 168.49
Low Date 03/07/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 199.62
High Date 12/14/2023
Low 168.49
Low Date 03/07/2024
Description Value
Direction Up
Chart Pattern Ascending Triangle
Status Broken Support
Resistance 200.45
Support 185.10
Low 124.17
Low Date 01/03/2023
High 199.62
High Date 12/14/2023
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.