The Greedy Trader Weekly Analysis
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Archive
- 3/15/2019
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Mallinckrodt Plc
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Summary:
Weekly :Oversold sector
Daily :Stochastic has raised above the signal linePrice is near the Fibonacci 23.6% retracement level
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It was a first positive week for the Mallinckrodt Plc (MNK). During the week, the MNK gained 0.69 points, or 3.26%, and closed at 21.87 on Friday, March 15, 2019. Weekly volume was -57% below average.

MNK is a member of Healthcare Sector. Healthcare is the second most oversold 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 December 27, 2018 at 15.18 and reached 27.33 on February 26, 2019. MNK gained -12.15 points, or -80.04%, in 8 weeks. The price is now at the 44.94% retracement level.

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

The weekly MACD line is above its signal line since February 22, 2019. 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 MNK short-term trend chart]
A short-term downtrend had started on February 26, 2019 at 27.33 and reached 20.40 on March 8, 2019. MNK lost 6.93 points, or 25.36%, in 10 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See MNK daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish 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 link to access Lane's Stochastic help.

The daily MACD line is below its signal line since March 5, 2019. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 51.79
Williams' Percentage Range (W%R) 76.40
Lane's Stochastic (%D-Slow) 31.63
Greed/Fear Indicator (GFI) 35.66
Moving Average Converg./Diverg. (MACD) 0.24
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.53
Williams' Percentage Range (W%R) 60.40
Lane's Stochastic (%D-Slow) 65.42
Greed/Fear Indicator (GFI) 53.56
Moving Average Converg./Diverg. (MACD) -0.93
Trading Signals
Description Value Chart
Upper Bollinger Band 24.55
Parabolic System 24.54
Weekly Stochastic Crossing 24.39
20 Day Moving Average 22.23
Price 21.87
50 Day Moving Average 21.21
Daily Stochastic Crossing 21.09
Lower Bollinger Band 19.39
Sector and Industry
Description Name Rank
Sector Healthcare 2
Industry Drugs - Generic 35
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 27.33
High Date 02/26/2019
Low 20.40
Low Date 03/08/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 15.18
Low Date 12/27/2018
High 27.33
High Date 02/26/2019
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 36.65
High Date 08/20/2018
Low 15.18
Low Date 12/27/2018
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 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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