The Greedy Trader Weekly Analysis
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Archive
- 9/7/2018
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Mallinckrodt Plc
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Summary:
Weekly :Overbought sectorRelative Strength Index and Williams' Percentage Range are overboughtLane's Stochastic is strongly overbought
Daily :Lane's Stochastic is oversold
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It was the negative week for the Mallinckrodt Plc (MNK). During the week, the MNK dropped -1.46 points, or -4.24%, and closed at 33.00 on Friday, September 07, 2018. It was the worst weekly loss since May 4, 2018. Weekly volume was -37% below average.

MNK is a member of Healthcare Sector. Healthcare is the second 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 MNK long-term trend chart]
A long-term downtrend had started on March 23, 2015 at 134.26 and reached 11.65 on May 4, 2018. MNK lost 122.61 points, or 91.32%, in 162 weeks. The chart has formed a Broadening Symmetric Wedge chart pattern. The trend support level is at 6.13 and resistance is at 111.05. A Broadening Symmetric 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 Symmetric Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Symmetric Wedge pattern in a long-term trend.

Medium-term trend: [See MNK medium-term trend chart]
A medium-term uptrend had started on May 4, 2018 at 11.65 and reached 36.65 on August 20, 2018. MNK gained -25.00 points, or -214.59%, in 15 weeks. The price is now at the 14.6% retracement level.

Weekly Technical Indicators: [See MNK weekly technical indicators chart]
Weekly Relative Strength Index and Williams' Percentage Range are overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Williams' Percentage Range or strongly overbought weekly 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since March 2, 2018. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.

Short-term trend: [See MNK short-term trend chart]
A short-term downtrend had started on August 27, 2018 at 36.39 and reached 32.40 on September 7, 2018. MNK lost 3.99 points, or 10.96%, in 11 days. The price is now at the 15.04% retracement level.

Daily Technical Indicators: [See MNK daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic.

The daily MACD line is below its signal line since August 28, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 38.28
Williams' Percentage Range (W%R) 61.50
Lane's Stochastic (%D-Slow) 19.76
Oversold
Greed/Fear Indicator (GFI) 32.18
Moving Average Converg./Diverg. (MACD) 2.55
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 85.52
Overbought
Williams' Percentage Range (W%R) 15.70
Overbought
Lane's Stochastic (%D-Slow) 92.53
Strong Overbought
Greed/Fear Indicator (GFI) 83.07
Overbought
Moving Average Converg./Diverg. (MACD) 0.99
Trading Signals
Description Value Chart
Upper Bollinger Band 35.59
Weekly Stochastic Crossing 35.44
Parabolic System 35.01
20 Day Moving Average 34.14
Price 33.00
Daily Stochastic Crossing 32.99
Lower Bollinger Band 29.82
50 Day Moving Average 27.13
Sector and Industry
Description Name Rank
Sector Healthcare 8
Industry Drugs - Generic 115
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 36.39
High Date 08/27/2018
Low 32.40
Low Date 09/07/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 36.39
High Date 08/27/2018
Low 32.40
Low Date 09/07/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 36.65
High Date 08/20/2018
Low 32.40
Low Date 09/07/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 11.65
Low Date 05/04/2018
High 36.65
High Date 08/20/2018
Description Value
Direction Down
Chart Pattern Broadening Symmetric Wedge
Status Valid
Resistance 111.05
Support 6.13
High 134.26
High Date 03/23/2015
Low 11.65
Low Date 05/04/2018
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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