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- 10/23/2020 -
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Omnicom Group (OMC)

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Summary:
Weekly :Broken trend resistance line
Daily :A Parabolic SAR indicator is below and near the pricePrice has crossed above the 50 Day Moving Average
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It was a fourth positive week after 4 consecutive negative weeks for the Omnicom Group (OMC). During the week, the OMC climbed 0.24 points, or 0.46%, and closed at 52.72 on Friday, October 23, 2020. Weekly volume was -28% below average.

Long-term trend: [See OMC long-term trend chart]
A long-term downtrend had started on July 16, 2019 at 85.05 and reached 46.37 on March 23, 2020. OMC lost 38.68 points, or 45.48%, in 35 weeks. The price is now at the 16.42% retracement level.

Medium-term trend: [See OMC medium-term trend chart]
A medium-term downtrend had started on June 8, 2020 at 64.00 and reached 48.00 on September 24, 2020. OMC lost 16.00 points, or 25%, in 15 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (46.88) is broken. A broken support is considered to be a long-term bullish signal. 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 OMC weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since June 5, 2020. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.

Short-term trend: [See OMC short-term trend chart]
A short-term uptrend had started on September 24, 2020 at 48.00 and reached 53.89 on October 13, 2020. OMC gained -5.89 points, or -12.27%, in 19 days. The chart has formed a Broadening Ascending Wedge chart pattern.

Daily Technical Indicators: [See OMC daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since October 1, 2020. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

A Parabolic SAR (stop and reversal) indicator (52.86) comes close to the price (52.72). 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.

During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish 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) 55.54
Williams' Percentage Range (W%R) 31.00
Lane's Stochastic (%D-Slow) 28.89
Greed/Fear Indicator (GFI) 51.16
Moving Average Converg./Diverg. (MACD) -0.06
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 42.62
Williams' Percentage Range (W%R) 73.60
Lane's Stochastic (%D-Slow) 34.52
Greed/Fear Indicator (GFI) 36.78
Moving Average Converg./Diverg. (MACD) -3.11
Trading Signals
Description Value Chart
Upper Bollinger Band 54.55
Parabolic System 52.86
Price 52.72
50 Day Moving Average 52.38
20 Day Moving Average 51.61
Daily Stochastic Crossing 51.60
Weekly Stochastic Crossing 51.29
Lower Bollinger Band 49.23
Weekly Trendline Support 46.88
Weekly Trendline Resistance 44.99
Sector and Industry
Description Name Rank
Sector Communication Services 4
Industry Advertising 33
Daily Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Low 48.00
Low Date 09/24/2020
High 53.89
High Date 10/13/2020
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 44.99
Support 46.88
High 64.00
High Date 06/08/2020
Low 48.00
Low Date 09/24/2020
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 82.73
High Date 12/13/2019
Low 46.37
Low Date 03/23/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 85.05
High Date 07/16/2019
Low 46.37
Low Date 03/23/2020
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 89.66
High Date 12/13/2016
Low 46.37
Low Date 03/23/2020
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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