The Greedy Trader Weekly Analysis
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Yearly Price vs. Fibonacci:Near 50.0% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 3/15/2024 -
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Helmerich & Payne (HP) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken trend resistance lineTrend resistance at 37.19
Daily :Daily  MACD line has moved above its signal lineThe Bollinger Bands are historically close together
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It was a third consecutive positive week for the Helmerich & Payne (HP). During the week, the HP gained 0.95 points, or 2.42%, and closed at 40.13 on Friday, March 15, 2024. Weekly volume was -22% below average.

HP 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 HP long-term trend chart]
A long-term downtrend had started on September 14, 2023 at 46.55 and reached 32.17 on January 17, 2024. HP lost 14.38 points, or 30.89%, in 17 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (29.45) 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 HP medium-term trend chart]
A medium-term uptrend had started on January 17, 2024 at 32.17 and reached 42.53 on January 30, 2024. HP gained -10.36 points, or -32.20%, in 1 weeks. The chart has formed a Symmetric Triangle chart pattern. The price is near the trend resistance line (37.19). The resistance is usually stronger when technical indicators are overbought. 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 resistance line in a medium-term trend.

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

The weekly MACD line is above its signal line since February 9, 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 HP short-term trend chart]
A short-term uptrend had started on February 23, 2024 at 37.28 and reached 40.84 on March 15, 2024. HP gained -3.56 points, or -9.55%, in 21 days. The chart has formed a Rising Wedge chart pattern.

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

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

The distance between the Bollinger Bands (7.08%) is close to one year low (7.65%). It is 58.62% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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) 66.46
Williams' Percentage Range (W%R) 24.20
Lane's Stochastic (%D-Slow) 76.33
Greed/Fear Indicator (GFI) 72.88
Moving Average Converg./Diverg. (MACD) 0.57
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 63.52
Williams' Percentage Range (W%R) 24.60
Lane's Stochastic (%D-Slow) 63.21
Greed/Fear Indicator (GFI) 64.22
Moving Average Converg./Diverg. (MACD) -0.66
Trading Signals
Description Value Chart
Upper Bollinger Band 40.38
Daily Stochastic Crossing 40.18
Price 40.13
Weekly Trendline Support 40.10
Weekly Stochastic Crossing 39.20
20 Day Moving Average 38.99
Parabolic System 38.49
Lower Bollinger Band 37.53
50 Day Moving Average 37.23
Weekly Trendline Resistance 37.19
Sector and Industry
Description Name Rank
Sector Energy 9
Industry Oil & Gas Drilling 62
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Low 37.28
Low Date 02/23/2024
High 40.84
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Test Resistance
Resistance 37.19
Support 40.10
Low 32.17
Low Date 01/17/2024
High 42.53
High Date 01/30/2024
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 30.95
Support 29.45
High 46.55
High Date 09/14/2023
Low 32.17
Low Date 01/17/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 54.59
High Date 06/08/2022
Low 30.41
Low Date 05/11/2023
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 12.40
Low Date 03/19/2020
High 54.59
High Date 06/08/2022
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.