The Greedy Trader Weekly Analysis
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Weekly RSI:> 80
Number of records: 10
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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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- 3/15/2024 -
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Baker Hugh (BKR) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken trend resistance lineStochastic signal line moved above oversold area
Daily :Williams' Percentage Range is overboughtLane's Stochastic is strongly overboughtBroken trend resistance line
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It was a sixth positive week after 5 consecutive negative weeks for the Baker Hugh (BKR). During the week, the BKR gained 1.72 points, or 5.62%, and closed at 32.32 on Friday, March 15, 2024. Weekly volume was 15% above average.

BKR is a member of Energy Sector. Energy 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 BKR long-term trend chart]
A long-term downtrend had started on September 5, 2023 at 37.58 and reached 28.32 on February 5, 2024. BKR lost 9.26 points, or 24.64%, in 21 weeks. The price is now at the 43.20% retracement level.

Medium-term trend: [See BKR medium-term trend chart]
A medium-term uptrend had started on February 5, 2024 at 28.32 and reached 32.44 on March 15, 2024. BKR gained -4.12 points, or -14.55%, in 5 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (29.64) is broken. Usually a broken resistance is considered to be a long-term bullish 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 resistance line in a medium-term trend.

Weekly Technical Indicators: [See BKR weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. 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 September 29, 2023. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.

Short-term trend: [See BKR short-term trend chart]
A short-term uptrend had started on February 14, 2024 at 28.63 and reached 32.44 on March 15, 2024. BKR gained -3.81 points, or -13.31%, in 30 days. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (29.95) is broken. Usually a broken resistance is considered to be a long-term bullish 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 resistance line in a short-term trend.

Daily Technical Indicators: [See BKR daily technical indicators chart]
Daily Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range or strongly overbought daily Lane's Stochastic. Use the following link to access Williams' Percentage Range help.

The daily MACD line is above its signal line since February 7, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 76.27
Williams' Percentage Range (W%R) 13.50
Overbought
Lane's Stochastic (%D-Slow) 93.93
Strong Overbought
Greed/Fear Indicator (GFI) 85.57
Overbought
Moving Average Converg./Diverg. (MACD) 0.19
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 50.38
Williams' Percentage Range (W%R) 51.10
Lane's Stochastic (%D-Slow) 32.38
Greed/Fear Indicator (GFI) 42.32
Moving Average Converg./Diverg. (MACD) -0.65
Trading Signals
Description Value Chart
Upper Bollinger Band 32.62
Price 32.32
Daily Stochastic Crossing 32.31
Weekly Trendline Resistance 31.84
Monthly Trendline Resistance 31.46
Parabolic System 30.68
50 Day Moving Average 30.29
20 Day Moving Average 30.28
Weekly Trendline Support 29.95
Weekly Stochastic Crossing 29.86
Monthly Trendline Support 29.64
Lower Bollinger Band 28.67
Sector and Industry
Description Name Rank
Sector Energy 9
Industry Oil & Gas Equipment & Services 27
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 30.43
Low Date 03/08/2024
High 32.44
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 31.84
Support 29.95
Low 28.63
Low Date 02/14/2024
High 32.44
High Date 03/15/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 31.46
Support 29.64
Low 28.32
Low Date 02/05/2024
High 32.44
High Date 03/15/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 37.58
High Date 09/05/2023
Low 28.32
Low Date 02/05/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 19.23
Low Date 07/21/2021
High 39.78
High Date 03/24/2022
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.