The Greedy Trader Weekly Analysis
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Archive
- 6/7/2019
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Pinnacle West Capital
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Summary:
Weekly :Overbought sectorBroken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is strongly overboughtLane's Stochastic bearish divergence
Daily :Williams' Percentage Range is strongly overboughtLane's Stochastic bearish divergenceDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARPrice has crossed above the 50 Day Moving AverageThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week for the Pinnacle West Capital (PNW). During the week, the PNW gained 3.77 points, or 4.01%, and closed at 97.68 on Friday, June 7, 2019. Weekly volume was -7% below average.

PNW is a member of Utilities Sector. Utilities 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 PNW long-term trend chart]
A long-term uptrend had started on March 5, 2009 at 22.32 and reached 99.81 on June 7, 2019. PNW gained -77.49 points, or -347.18%, in 535 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (85.73) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 long-term trend.

Medium-term trend: [See PNW medium-term trend chart]
A medium-term uptrend had started on June 11, 2018 at 73.41 and reached 99.81 on June 7, 2019. PNW gained -26.40 points, or -35.96%, in 51 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 87.00 and resistance is at 101.83. A Broadening Ascending 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 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 PNW weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Weekly Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is below its signal line since May 3, 2019. 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 PNW short-term trend chart]
A short-term uptrend had started on May 30, 2019 at 92.83 and reached 99.81 on June 7, 2019. PNW gained -6.98 points, or -7.52%, in 8 days. The price is now at the 30.52% retracement level.

Daily Technical Indicators: [See PNW daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range. Daily Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic bearish divergence.

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. 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) 55.85
Williams' Percentage Range (W%R) 7.30
Strong Overbought
Lane's Stochastic (%D-Slow) 71.89
Bearish
Greed/Fear Indicator (GFI) 73.47
Moving Average Converg./Diverg. (MACD) 0.36
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.89
Williams' Percentage Range (W%R) 3.10
Strong Overbought
Lane's Stochastic (%D-Slow) 58.48
Bearish
Greed/Fear Indicator (GFI) 69.30
Moving Average Converg./Diverg. (MACD) 2.67
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 101.83
Upper Bollinger Band 98.55
Daily Stochastic Crossing 98.22
Price 97.68
Weekly Stochastic Crossing 97.25
Yearly Trendline Resistance 96.68
20 Day Moving Average 95.86
50 Day Moving Average 94.93
Parabolic System 93.40
Lower Bollinger Band 93.00
Quarterly Trendline Support 87.00
Yearly Trendline Support 85.73
Sector and Industry
Description Name Rank
Sector Utilities 10
Industry Electric Utilities 118
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 92.83
Low Date 05/30/2019
High 99.81
High Date 06/07/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 92.83
Low Date 05/30/2019
High 99.81
High Date 06/07/2019
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 91.95
Low Date 05/08/2019
High 99.81
High Date 06/07/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 101.83
Support 87.00
Low 73.41
Low Date 06/11/2018
High 99.81
High Date 06/07/2019
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 96.68
Support 85.73
Low 22.32
Low Date 03/05/2009
High 99.81
High Date 06/07/2019
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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