The Greedy Trader Weekly Analysis
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- 5/17/2019
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iShares Lehman 7-10 Year Treasury
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Summary:
Weekly :Williams' Percentage Range is strongly overboughtBroken trend resistance line
Daily :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtA Parabolic SAR indicator is above and near the pricePrice is close to the 50 Day Moving Average
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It was a second consecutive positive week for the iShares Lehman 7-10 Year Treasury (IEF). During the week, the IEF climbed 0.61 points, or 0.57%, and closed at 106.73 on Friday, May 17, 2019. IEF was trading at average weekly trading volume.

Long-term trend: [See IEF long-term trend chart]
A long-term downtrend had started on July 5, 2016 at 113.91 and reached 99.61 on October 5, 2018. IEF lost 14.30 points, or 12.55%, in 117 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (98.32) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. IEF may retest the broken resistance line. It is considered to be a support line now. 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 IEF medium-term trend chart]
A medium-term uptrend had started on April 17, 2019 at 105.00 and reached 106.97 on May 15, 2019. IEF gained -1.97 points, or -1.88%, in 4 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 105.55 and resistance is at 107.10. 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 IEF weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. 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 Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 16, 2018. 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 IEF short-term trend chart]
A short-term uptrend had started on May 2, 2019 at 105.27 and reached 106.97 on May 15, 2019. IEF gained -1.70 points, or -1.61%, in 13 days. The price is now at the 14.12% retracement level.

Daily Technical Indicators: [See IEF 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. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since May 6, 2019. This is an indication that the short-term trend is up.

A Parabolic SAR (stop and reversal) indicator (106.55) comes close to the price (106.73). It indicates that the trend is getting weaker. 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. 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) 65.66
Williams' Percentage Range (W%R) 3.20
Strong Overbought
Lane's Stochastic (%D-Slow) 86.15
Overbought
Greed/Fear Indicator (GFI) 82.86
Overbought
Moving Average Converg./Diverg. (MACD) 0.22
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.96
Williams' Percentage Range (W%R) 4.10
Strong Overbought
Lane's Stochastic (%D-Slow) 62.20
Greed/Fear Indicator (GFI) 72.06
Moving Average Converg./Diverg. (MACD) 0.87
Trading Signals
Description Value Chart
Monthly Trendline Resistance 107.10
Upper Bollinger Band 107.09
Daily Stochastic Crossing 106.79
Price 106.73
Parabolic System 106.55
Weekly Stochastic Crossing 106.37
20 Day Moving Average 105.97
50 Day Moving Average 105.74
Monthly Trendline Support 105.55
Lower Bollinger Band 105.12
Yearly Trendline Resistance 101.51
Yearly Trendline Support 98.32
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 105.27
Low Date 05/02/2019
High 106.97
High Date 05/15/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 105.27
Low Date 05/02/2019
High 106.97
High Date 05/15/2019
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 107.10
Support 105.55
Low 105.00
Low Date 04/17/2019
High 106.97
High Date 05/15/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 99.61
Low Date 10/05/2018
High 107.08
High Date 03/27/2019
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 101.51
Support 98.32
High 113.91
High Date 07/05/2016
Low 99.61
Low Date 10/05/2018
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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