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Casinos & Gaming Industry Stocks Technical Analysis - CME

Archive
- 3/15/2024 -
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CME Group Inc. (CME) Technical Analysis

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Summary:
Weekly :Overbought sector
Daily :The price has risen above the Parabolic SARPrice is near the Fibonacci 38.2% retracement levelThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week for the CME Group Inc. (CME). During the week, the CME gained 4.52 points, or 2.12%, and closed at 217.50 on Friday, March 15, 2024. Weekly volume was 14% above average.

CME is a member of Financials Sector. Financials 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 CME long-term trend chart]
A long-term uptrend had started on January 3, 2023 at 166.55 and reached 223.80 on December 4, 2023. CME gained -57.25 points, or -34.37%, in 47 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 193.91 and resistance is at 235.40. 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 CME medium-term trend chart]
A medium-term uptrend had started on January 11, 2024 at 195.54 and reached 222.63 on February 29, 2024. CME gained -27.09 points, or -13.85%, in 7 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 214.83 and resistance is at 230.59. 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 medium-term trend.

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

The weekly MACD line is above its signal line since March 1, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.

Short-term trend: [See CME short-term trend chart]
A short-term uptrend had started on March 8, 2024 at 212.80 and reached 220.19 on March 15, 2024. CME gained -7.39 points, or -3.47%, in 7 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See CME daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since March 6, 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.

During the last week, the price has moved above 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) 45.57
Williams' Percentage Range (W%R) 41.50
Lane's Stochastic (%D-Slow) 54.92
Greed/Fear Indicator (GFI) 52.99
Moving Average Converg./Diverg. (MACD) 2.58
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 54.52
Williams' Percentage Range (W%R) 22.50
Lane's Stochastic (%D-Slow) 79.55
Greed/Fear Indicator (GFI) 70.02
Moving Average Converg./Diverg. (MACD) 3.17
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 235.40
Weekly Trendline Resistance 230.59
Upper Bollinger Band 222.09
Weekly Stochastic Crossing 219.13
20 Day Moving Average 217.59
Price 217.50
Daily Stochastic Crossing 217.48
Weekly Trendline Support 214.83
Parabolic System 212.59
Lower Bollinger Band 210.25
50 Day Moving Average 209.29
Quarterly Trendline Support 193.91
Sector and Industry
Description Name Rank
Sector Financials 11
Industry Financial Exchanges & Data 32
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 212.80
Low Date 03/08/2024
High 220.19
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 230.59
Support 214.83
Low 195.54
Low Date 01/11/2024
High 222.63
High Date 02/29/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 223.80
High Date 12/04/2023
Low 195.54
Low Date 01/11/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 235.40
Support 193.91
Low 166.55
Low Date 01/03/2023
High 223.80
High Date 12/04/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 256.94
High Date 02/09/2022
Low 166.55
Low Date 01/03/2023
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.