The Greedy Trader Weekly Analysis
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Weekly RSI:< 20
Number of records: 2
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Relative Strength Index (RSI Indicator)

The Relative Strength Index is a popular momentum oscillator, developed by Welles Wilder, Jr. It is one of the most widely used technical indicators. Relative Strength Index compares upward vs. downward movements in closing over a selected period. The RSI Indicator fluctuates from 0% to 100%. A stock with RSI Indicator higher than 70% is considered overbought and lower than 30% - oversold. A good rule is to adjust overbought/oversold index range to 80% in bull and to 20% in bear markets. Relative Strength Index can provide an early warning, but not the final signal. It should be used in conjunction with other stock picking techniques. The divergence between RSI Indicator and underlying stock price is the most important signal provided by RSI, and it can be an indication of an impending reversal. Using the RSI divergence (bullish and bearish), chart patterns, trendlines, support, and resistance lines along with the RSI Indicator chart can be very useful.

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- 3/15/2024 -
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Phillip Morris International Inc. (PM) Technical Analysis

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Summary:
Weekly :Weekly  MACD line has moved above its signal line
Daily :Lane's Stochastic is overboughtPrice is near the Fibonacci 23.6% retracement level
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It was a second consecutive positive week for the Phillip Morris International Inc. (PM). During the week, the PM gained 1.59 points, or 1.72%, and closed at 94.27 on Friday, March 15, 2024. Weekly volume was 29% above average.

Long-term trend: [See PM long-term trend chart]
A long-term downtrend had started on February 18, 2022 at 112.48 and reached 82.85 on September 30, 2022. PM lost 29.63 points, or 26.34%, in 32 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 68.36 and resistance is at 97.64. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.

Medium-term trend: [See PM medium-term trend chart]
A medium-term uptrend had started on February 8, 2024 at 88.30 and reached 95.87 on March 13, 2024. PM gained -7.57 points, or -8.57%, in 4 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 89.23 and resistance is at 96.47. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.

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

During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help.

Short-term trend: [See PM short-term trend chart]
A short-term uptrend had started on March 1, 2024 at 88.86 and reached 95.87 on March 13, 2024. PM gained -7.01 points, or -7.89%, in 12 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See PM daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily 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 link to access Lane's Stochastic help.

The daily MACD line is above its signal line since February 20, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 73.33
Williams' Percentage Range (W%R) 43.40
Lane's Stochastic (%D-Slow) 85.07
Overbought
Greed/Fear Indicator (GFI) 71.66
Moving Average Converg./Diverg. (MACD) 0.33
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.67
Williams' Percentage Range (W%R) 42.20
Lane's Stochastic (%D-Slow) 33.92
Greed/Fear Indicator (GFI) 46.97
Moving Average Converg./Diverg. (MACD) -0.82
Trading Signals
Description Value Chart
Yearly Trendline Resistance 97.64
Weekly Trendline Resistance 96.47
Upper Bollinger Band 95.93
Daily Stochastic Crossing 94.93
Price 94.27
50 Day Moving Average 92.03
Parabolic System 91.88
20 Day Moving Average 91.61
Weekly Stochastic Crossing 91.29
Weekly Trendline Support 89.23
Lower Bollinger Band 88.58
Sector and Industry
Description Name Rank
Sector Consumer Staples 4
Industry Tobacco 36
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 88.86
Low Date 03/01/2024
High 95.87
High Date 03/13/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 96.47
Support 89.23
Low 88.30
Low Date 02/08/2024
High 95.87
High Date 03/13/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 96.82
High Date 01/04/2024
Low 88.30
Low Date 02/08/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 105.62
High Date 02/01/2023
Low 87.23
Low Date 10/27/2023
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 97.64
Support 68.36
High 112.48
High Date 02/18/2022
Low 82.85
Low Date 09/30/2022
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.