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- 6/26/2020 -
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Pinnacle West Capital (PNW)

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Summary:
Weekly :Weekly  MACD line has moved below its signal lineOversold sectorBroken trend support lineBroken trend support line
Daily :Relative Strength Index and Williams' Percentage Range oversoldLane's Stochastic is strongly oversold
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It was the negative week for the Pinnacle West Capital (PNW). During the week, the PNW dropped -2.45 points, or -3.33%, and closed at 71.05 on Friday, June 26, 2020. Weekly volume was -15% below average.

PNW is a member of Utilities Sector. Utilities 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 PNW long-term trend chart]
A long-term uptrend had started on March 5, 2009 at 22.32 and reached 105.51 on February 21, 2020. PNW gained -83.19 points, or -372.72%, in 572 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (88.74) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. PNW may retest the broken support line. It is considered to be a resistance 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 support in a long-term trend.

Medium-term trend: [See PNW medium-term trend chart]
A medium-term uptrend had started on March 18, 2020 at 60.05 and reached 84.69 on April 9, 2020. PNW gained -24.64 points, or -41.03%, in 3 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (76.29) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. PNW may retest the broken support line. It is considered to be a resistance 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 support in a medium-term trend.

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

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

Short-term trend: [See PNW short-term trend chart]
A short-term downtrend had started on June 8, 2020 at 82.29 and reached 69.96 on June 26, 2020. PNW lost 12.33 points, or 14.98%, in 18 days. The price is now at the 8.84% retracement level.

Daily Technical Indicators: [See PNW daily technical indicators chart]
Daily Relative Strength Index and Williams' Percentage Range are oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index and Williams' Percentage Range or strongly oversold 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The daily MACD line is below its signal line since June 11, 2020. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 17.39
Oversold
Williams' Percentage Range (W%R) 88.70
Oversold
Lane's Stochastic (%D-Slow) 7.84
Strong Oversold
Greed/Fear Indicator (GFI) 12.17
Oversold
Moving Average Converg./Diverg. (MACD) -0.42
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 54.39
Williams' Percentage Range (W%R) 75.10
Lane's Stochastic (%D-Slow) 49.14
Greed/Fear Indicator (GFI) 41.37
Moving Average Converg./Diverg. (MACD) -4.10
Trading Signals
Description Value Chart
Monthly Trendline Resistance 81.45
Upper Bollinger Band 80.80
Monthly Trendline Support 76.29
20 Day Moving Average 76.14
Weekly Stochastic Crossing 75.64
50 Day Moving Average 75.43
Parabolic System 74.17
Price 71.05
Daily Stochastic Crossing 70.61
Lower Bollinger Band 68.59
Sector and Industry
Description Name Rank
Sector Utilities 2
Industry Electric Utilities 23
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 79.69
High Date 06/16/2020
Low 69.96
Low Date 06/26/2020
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 82.29
High Date 06/08/2020
Low 69.96
Low Date 06/26/2020
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 81.45
Support 76.29
Low 60.05
Low Date 03/18/2020
High 84.69
High Date 04/09/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 105.51
High Date 02/21/2020
Low 60.05
Low Date 03/18/2020
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 106.97
Support 88.74
Low 22.32
Low Date 03/05/2009
High 105.51
High Date 02/21/2020
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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