The Greedy Trader Weekly Analysis
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Archive
- 8/3/2018
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CurrencyShares Canadian Dollar Trust
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Summary:
Weekly :Broken trend support lineTrend support at 75.57
Daily :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtMACD bearish divergencePrice is close to the 50 Day Moving Average
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It was a third consecutive positive week for the CurrencyShares Canadian Dollar Trust (FXC). During the week, the FXC climbed 0.43 points, or 0.57%, and closed at 75.96 on Friday, August 03, 2018. It was the best weekly gain since June 29, 2018. Weekly volume was -24% below average.

Long-term trend: [See FXC long-term trend chart]
A long-term uptrend had started on January 20, 2016 at 67.71 and reached 81.48 on September 8, 2017. FXC gained -13.77 points, or -20.34%, in 85 weeks. The chart has formed a Rising Wedge chart pattern. The price is near the trend support (75.57) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a long-term trend.

Medium-term trend: [See FXC medium-term trend chart]
A medium-term uptrend had started on May 4, 2017 at 71.70 and reached 81.48 on September 8, 2017. FXC gained -9.78 points, or -13.64%, in 18 weeks. The chart has formed a Rising Pennant chart pattern. The uptrend support line (80.93) is broken. A broken support is considered to be a long-term bearish 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 support in a medium-term trend.

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

The weekly MACD line is below its signal line since February 16, 2018. 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 FXC short-term trend chart]
A short-term downtrend had started on April 17, 2018 at 78.74 and reached 73.71 on June 27, 2018. FXC lost 5.03 points, or 6.39%, in 71 days. The chart has formed a Falling Channel chart pattern.

Daily Technical Indicators: [See FXC daily technical indicators chart]
Daily 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 daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Daily MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD 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 and Williams' Percentage Range help.

The daily MACD line is above its signal line since June 28, 2018.

Price is close to the 50 Day Moving Average. While daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.82
Williams' Percentage Range (W%R) 8.70
Strong Overbought
Lane's Stochastic (%D-Slow) 89.90
Overbought
Greed/Fear Indicator (GFI) 81.32
Overbought
Moving Average Converg./Diverg. (MACD) 0.08 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 42.22
Williams' Percentage Range (W%R) 56.30
Lane's Stochastic (%D-Slow) 43.42
Greed/Fear Indicator (GFI) 44.93
Moving Average Converg./Diverg. (MACD) -0.58
Trading Signals
Description Value Chart
Yearly Trendline Resistance 82.95
Quarterly Trendline Support 80.93
Quarterly Trendline Resistance 79.19
Upper Bollinger Band 76.26
Daily Stochastic Crossing 75.98
Price 75.96
Yearly Trendline Support 75.57
50 Day Moving Average 75.28
20 Day Moving Average 75.25
Parabolic System 75.02
Weekly Stochastic Crossing 74.87
Lower Bollinger Band 74.50
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern Falling Channel
High 78.74
High Date 04/17/2018
Low 73.71
Low Date 06/27/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 80.48
High Date 01/31/2018
Low 73.71
Low Date 06/27/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 81.48
High Date 09/08/2017
Low 73.71
Low Date 06/27/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Pennant
Status Broken Support
Resistance 79.19
Support 80.93
Low 71.70
Low Date 05/04/2017
High 81.48
High Date 09/08/2017
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Test Support
Resistance 82.95
Support 75.57
Low 67.71
Low Date 01/20/2016
High 81.48
High Date 09/08/2017
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.

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