The Greedy Trader Weekly Analysis
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Archive
- 12/7/2018
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Mallinckrodt Plc
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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is oversoldBroken trend support line
Daily :20 Day Moving Average has crossed below the 50 Day Moving AverageRelative Strength Index, Williams' Percentage Range and Lane's Stochastic are oversoldThe Bollinger Bands are historically far apart
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It was the negative week for the Mallinckrodt Plc (MNK). During the week, the MNK dropped -3.03 points, or -12.74%, and closed at 20.76 on Friday, December 07, 2018. Weekly volume was -22% below average.

MNK is a member of Healthcare Sector. Healthcare 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 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 Falling Channel chart pattern. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel 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 chart has formed a Symmetric Triangle chart pattern. The uptrend support line (27.59) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. MNK may retest the broken support line. It is considered to be a resistance 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 support in a medium-term trend.

Weekly Technical Indicators: [See MNK weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold 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 below its signal line since October 12, 2018. 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 November 13, 2018 at 32.34 and reached 20.42 on December 7, 2018. MNK lost 11.92 points, or 36.86%, in 24 days. Price is near the trend low.

Daily Technical Indicators: [See MNK daily technical indicators chart]
Daily Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. Use the following links to access Lane's Stochastic and Relative Strength Index help.

The daily MACD line is below its signal line since November 20, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current short-term downtrend is still strong, and momentum is beginning to wane.

The distance between the Bollinger Bands (71.1%) is close to one year high (60.67%). It is 181.90% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell 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.

During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. 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) 5.43
Strong Oversold
Williams' Percentage Range (W%R) 90.90
Strong Oversold
Lane's Stochastic (%D-Slow) 6.78
Strong Oversold
Greed/Fear Indicator (GFI) 7.09
Strong Oversold
Moving Average Converg./Diverg. (MACD) -1.04
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 25.07
Williams' Percentage Range (W%R) 93.30
Strong Oversold
Lane's Stochastic (%D-Slow) 37.99
Greed/Fear Indicator (GFI) 26.88
Moving Average Converg./Diverg. (MACD) 1.78
Trading Signals
Description Value Chart
Upper Bollinger Band 32.85
50 Day Moving Average 27.13
20 Day Moving Average 26.96
Weekly Stochastic Crossing 25.04
Parabolic System 24.97
Daily Stochastic Crossing 20.77
Price 20.76
Lower Bollinger Band 18.07
Sector and Industry
Description Name Rank
Sector Healthcare 9
Industry Drugs - Generic 75
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 32.15
High Date 11/19/2018
Low 20.42
Low Date 12/07/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 32.34
High Date 11/13/2018
Low 20.42
Low Date 12/07/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 36.65
High Date 08/20/2018
Low 20.42
Low Date 12/07/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 31.19
Support 27.59
Low 11.65
Low Date 05/04/2018
High 36.65
High Date 08/20/2018
Description Value
Direction Down
Chart Pattern Falling Channel
Status
Resistance
Support
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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