The Greedy Trader Weekly Analysis
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Daily RSI:> 70
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Relative Strength Index (RSI Indicator)

The Relative Strength Index is a popular momentum oscillator, developed by Welles Wilder, Jr. It is one of the most widely used technical indicators. Relative Strength Index compares upward vs. downward movements in closing over a selected period. The RSI Indicator fluctuates from 0% to 100%. A stock with RSI Indicator higher than 70% is considered overbought and lower than 30% - oversold. A good rule is to adjust overbought/oversold index range to 80% in bull and to 20% in bear markets. Relative Strength Index can provide an early warning, but not the final signal. It should be used in conjunction with other stock picking techniques. The divergence between RSI Indicator and underlying stock price is the most important signal provided by RSI, and it can be an indication of an impending reversal. Using the RSI divergence (bullish and bearish), chart patterns, trendlines, support, and resistance lines along with the RSI Indicator chart can be very useful.

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- 3/22/2024 -
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Air Products & Chemicals (APD) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken trend support lineBroken trend resistance line
Daily :Daily  MACD line has moved below its signal lineLane's Stochastic is oversoldBroken trend support lineThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Air Products & Chemicals (APD). During the week, the APD dropped -7.92 points, or -3.24%, and closed at 236.71 on Friday, March 22, 2024. Weekly volume was 54% above average.

APD is a member of Materials Sector. Materials 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 APD long-term trend chart]
A long-term downtrend had started on December 13, 2022 at 328.56 and reached 212.24 on February 6, 2024. APD lost 116.32 points, or 35.40%, in 60 weeks. The chart has formed a Rising Wedge chart pattern. The downtrend support line (307.14) is broken. Usually a broken support is considered to be a long-term bearish signal, although a short-term pull back is possible. 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 APD medium-term trend chart]
A medium-term downtrend had started on September 15, 2023 at 307.71 and reached 212.24 on February 6, 2024. APD lost 95.47 points, or 31.03%, in 20 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (191.64) 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 APD weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since September 22, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See APD short-term trend chart]
A short-term uptrend had started on February 6, 2024 at 212.24 and reached 249.34 on March 11, 2024. APD gained -37.10 points, or -17.48%, in 34 days. The chart has formed a Rising Channel chart pattern. The uptrend support line (251.74) 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. APD 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 short-term trend.

Daily Technical Indicators: [See APD 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.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 47.71
Williams' Percentage Range (W%R) 68.80
Lane's Stochastic (%D-Slow) 18.03
Oversold
Greed/Fear Indicator (GFI) 32.30
Moving Average Converg./Diverg. (MACD) 0.51
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 31.47
Williams' Percentage Range (W%R) 72.80
Lane's Stochastic (%D-Slow) 42.99
Greed/Fear Indicator (GFI) 36.37
Moving Average Converg./Diverg. (MACD) -10.73
Trading Signals
Description Value Chart
Weekly Trendline Resistance 259.59
Weekly Trendline Support 251.74
Upper Bollinger Band 250.80
Parabolic System 244.20
50 Day Moving Average 241.87
20 Day Moving Average 239.99
Weekly Stochastic Crossing 237.57
Price 236.71
Daily Stochastic Crossing 236.14
Lower Bollinger Band 229.12
Monthly Trendline Resistance 223.05
Monthly Trendline Support 191.64
Sector and Industry
Description Name Rank
Sector Materials 9
Industry Industrial Gases 38
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 249.34
High Date 03/11/2024
Low 234.96
Low Date 03/22/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 259.59
Support 251.74
Low 212.24
Low Date 02/06/2024
High 249.34
High Date 03/11/2024
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 223.05
Support 191.64
High 307.71
High Date 09/15/2023
Low 212.24
Low Date 02/06/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Rising Wedge
Status Broken Support
Resistance 320.19
Support 307.14
High 328.56
High Date 12/13/2022
Low 212.24
Low Date 02/06/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 23.00
Low Date 03/08/2000
High 328.56
High Date 12/13/2022
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.