The Greedy Trader Weekly Analysis
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Daily W%R:> 80
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Williams' Percentage Range (W%R)

Williams' %R is an effective momentum indicator that measures overbought/oversold levels. Like other indicators, W%R ranges between 0% and 100% , but in opposite to the other indicators, the 0% indicating overbought and 100% - the oversold stocks. W%R measures the closing price in relation to the recent low/high range. A bullish signal is generated when the W%R has reached 100, five time bars have elapsed, and the W%R has subsequently fallen to 95. A reverse signal is considered as bearish. For the sake of simplicity, the W%R closed above 10% is considered bearish and below 90% - bullish. In trending markets, the W%R stays at one end of the scale and gives false signals to trade against the trend. That is why W%R is not considered a stand-along technique, and it is essential to use it with some sort of trend formation indicators. The divergence between price and W%R rarely occurs and presents an important buy/sell signal. As our research shows, the W%R move to upper or lower bounds can be used as an earliest signal of an impending reversal. Using the Williams %R bullish divergence/bearish divergence, chart patterns, trendlines, support, and resistance lines along with the W%R chart can be very useful.

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- 3/15/2024 -
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Quest Diagnostics (DGX) Technical Analysis

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Summary:
Weekly :Oversold industryBroken trend resistance lineLane's Stochastic is oversoldPrice is near the Fibonacci 23.6% retracement level
Daily :The price has fallen below the Parabolic SARBullish Piercing Line CandlestickPrice is close to the 50 Day Moving Average
Move cursor over the icon to see details.

It was a second consecutive positive week for the Quest Diagnostics (DGX). During the week, the DGX climbed 1.04 points, or 0.82%, and closed at 128.28 on Friday, March 15, 2024. DGX was trading at average weekly trading volume.

DGX is a member of Health Care Services Industry. Health Care Services is the tenth most oversold industry. 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 DGX long-term trend chart]
A long-term downtrend had started on December 29, 2022 at 158.34 and reached 119.59 on October 2, 2023. DGX lost 38.75 points, or 24.47%, in 39 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Medium-term trend: [See DGX medium-term trend chart]
A medium-term downtrend had started on January 2, 2024 at 143.63 and reached 123.04 on February 1, 2024. DGX lost 20.59 points, or 14.34%, in 4 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (123.64) 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 DGX weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly 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.

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 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 DGX short-term trend chart]
A short-term uptrend had started on February 21, 2024 at 123.30 and reached 131.26 on March 13, 2024. DGX gained -7.96 points, or -6.46%, in 21 days. The chart has formed a Broadening Ascending Wedge chart pattern.

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

The daily MACD line is above its signal line since February 20, 2024. This is an indication that the short-term trend is up.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.

Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Candlestick pattern: [See DGX candlestick chart pattern]
On Friday the chart has formed a Bullish Piercing Line Candlestick pattern. This pattern suggests bulls have begun to take charge of the market, and shorts have been shaken by the sudden lost of bearish momentum. The reliability of the Bullish Piercing Line pattern is moderate. Use the Technical Stock Screener to see the list of stocks that had a Bullish Piercing Line Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 58.18
Williams' Percentage Range (W%R) 70.50
Lane's Stochastic (%D-Slow) 74.29
Greed/Fear Indicator (GFI) 54.00
Moving Average Converg./Diverg. (MACD) -0.52
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 40.06
Williams' Percentage Range (W%R) 79.00
Lane's Stochastic (%D-Slow) 18.58
Oversold
Greed/Fear Indicator (GFI) 28.10
Moving Average Converg./Diverg. (MACD) -1.10
Trading Signals
Description Value Chart
Parabolic System 131.27
Upper Bollinger Band 130.90
50 Day Moving Average 129.37
Daily Stochastic Crossing 129.07
Price 128.28
20 Day Moving Average 126.51
Weekly Stochastic Crossing 125.04
Lower Bollinger Band 123.98
Monthly Trendline Support 123.64
Monthly Trendline Resistance 120.94
Sector and Industry
Description Name Rank
Sector Health Care 6
Industry Health Care Services 10
Daily Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Low 123.30
Low Date 02/21/2024
High 131.26
High Date 03/13/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 123.04
Low Date 02/01/2024
High 131.26
High Date 03/13/2024
Description Value
Direction Down
Chart Pattern Descending Triangle
Status Broken Resistance
Resistance 120.94
Support 123.64
High 143.63
High Date 01/02/2024
Low 123.04
Low Date 02/01/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 158.34
High Date 12/29/2022
Low 119.59
Low Date 10/02/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 174.16
High Date 12/31/2021
Low 119.59
Low Date 10/02/2023
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.