The Greedy Trader Weekly Analysis
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Weekly Pattern:Rising Channel
Number of records: 10
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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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Edwards Lifesciences (EW) Technical Analysis

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Summary:
Weekly :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtRelative Strength Index bearish divergenceBroken trend resistance line
Daily :Price is near the Fibonacci 23.6% retracement level
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It was a second consecutive positive week for the Edwards Lifesciences (EW). During the week, the EW climbed 0.17 points, or 0.18%, and closed at 92.31 on Friday, March 15, 2024. Weekly volume was 18% above average.

Long-term trend: [See EW long-term trend chart]
A long-term downtrend had started on December 30, 2021 at 131.73 and reached 60.57 on October 30, 2023. EW lost 71.16 points, or 54.02%, in 95 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (58.04) 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 long-term trend.

Medium-term trend: [See EW medium-term trend chart]
A medium-term uptrend had started on October 30, 2023 at 60.57 and reached 95.27 on March 14, 2024. EW gained -34.70 points, or -57.29%, in 19 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 79.95 and resistance is at 100.82. 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 medium-term trend.

Weekly Technical Indicators: [See EW weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Weekly Relative Strength Index has bearish divergence. Use the following links to access the Relative Strength Index help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since December 8, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See EW short-term trend chart]
A short-term uptrend had started on February 7, 2024 at 82.53 and reached 95.27 on March 14, 2024. EW gained -12.74 points, or -15.44%, in 36 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

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

The daily MACD line is above its signal line since March 6, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 65.93
Williams' Percentage Range (W%R) 24.10
Lane's Stochastic (%D-Slow) 74.98
Greed/Fear Indicator (GFI) 72.27
Moving Average Converg./Diverg. (MACD) 2.55
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 77.93
Bearish
Williams' Percentage Range (W%R) 8.10
Strong Overbought
Lane's Stochastic (%D-Slow) 83.39
Overbought
Greed/Fear Indicator (GFI) 79.49
Moving Average Converg./Diverg. (MACD) 0.83
Trading Signals
Description Value Chart
Monthly Trendline Resistance 100.82
Upper Bollinger Band 94.53
Daily Stochastic Crossing 93.18
Price 92.31
Weekly Stochastic Crossing 91.51
20 Day Moving Average 88.57
Parabolic System 87.16
Lower Bollinger Band 82.83
50 Day Moving Average 82.59
Monthly Trendline Support 79.95
Yearly Trendline Resistance 77.42
Sector and Industry
Description Name Rank
Sector Health Care 6
Industry Health Care Equipment 81
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 82.53
Low Date 02/07/2024
High 95.27
High Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 71.67
Low Date 01/04/2024
High 95.27
High Date 03/14/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 100.82
Support 79.95
Low 60.57
Low Date 10/30/2023
High 95.27
High Date 03/14/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 94.87
High Date 06/30/2023
Low 60.57
Low Date 10/30/2023
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 77.42
Support 58.04
High 131.73
High Date 12/30/2021
Low 60.57
Low Date 10/30/2023
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.