The Greedy Trader Weekly Analysis
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Archive
- 5/11/2018
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Mallinckrodt Plc
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Summary:
Weekly :Broken trend support lineLane's Stochastic is oversoldStochastic has raised above the signal lineBroken trend resistance line
Daily :Williams' Percentage Range is overboughtPrice has crossed above the 50 Day Moving AverageBearish Advance Block CandlestickStochastic signal line moved above oversold areaDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week after 5 consecutive negative weeks for the Mallinckrodt Plc (MNK). During the week, the MNK gained 2.90 points, or 24.19%, and closed at 14.89 on Friday, May 11, 2018. Weekly volume was 102% above average.

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 Ascending Wedge chart pattern. The downtrend support line (43.97) is broken. Usually a broken support is considered to be a long-term bearish signal, although a short-term pull back is possible. 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 long-term trend.

Medium-term trend: [See MNK medium-term trend chart]
A medium-term downtrend had started on February 27, 2018 at 21.96 and reached 11.65 on May 4, 2018. MNK lost 10.31 points, or 46.95%, in 9 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (11.22) 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. MNK 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 medium-term trend.

Weekly Technical Indicators: [See MNK weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. During the last week, weekly 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 weekly MACD line is above its signal line since March 2, 2018. Use the following link to access a MACD help.

Short-term trend: [See MNK short-term trend chart]
A short-term uptrend had started on May 4, 2018 at 11.65 and reached 14.97 on May 11, 2018. MNK gained -3.32 points, or -28.50%, in 7 days. Price is near the trend high.

Daily Technical Indicators: [See MNK daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Use the following link to access Williams' Percentage Range help.

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

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. 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.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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 price has advanced above the 50 Day Moving Average. While the medium-term trend is down and 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.

Candlestick pattern: [See MNK candlestick chart pattern]
On Friday the chart has formed a Bearish Advance Block Candlestick pattern. This pattern occurs in an uptrend; it is not a top reversal pattern, but it might precede a meaningful price decline. The reliability of the Bearish Advance Block pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Advance Block Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 64.58
Williams' Percentage Range (W%R) 14.50
Overbought
Lane's Stochastic (%D-Slow) 71.06
Greed/Fear Indicator (GFI) 73.73
Moving Average Converg./Diverg. (MACD) -0.47
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 39.60
Williams' Percentage Range (W%R) 78.40
Lane's Stochastic (%D-Slow) 12.37
Oversold
Greed/Fear Indicator (GFI) 27.19
Moving Average Converg./Diverg. (MACD) -4.85
Trading Signals
Description Value Chart
Upper Bollinger Band 15.06
Price 14.89
50 Day Moving Average 14.43
Daily Stochastic Crossing 14.14
20 Day Moving Average 13.40
Weekly Stochastic Crossing 12.25
Parabolic System 12.17
Lower Bollinger Band 12.12
Sector and Industry
Description Name Rank
Sector Healthcare 4
Industry Drugs - Generic 64
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 11.65
Low Date 05/04/2018
High 14.97
High Date 05/11/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 10.59
Support 11.22
High 21.96
High Date 02/27/2018
Low 11.65
Low Date 05/04/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 49.12
High Date 07/25/2017
Low 11.65
Low Date 05/04/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 85.83
High Date 08/24/2016
Low 11.65
Low Date 05/04/2018
Description Value
Direction Down
Chart Pattern Broadening Ascending Wedge
Status Broken Support
Resistance 107.02
Support 43.97
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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