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- 6/26/2020 -
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PPG Industries (PPG)

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Summary:
Weekly :Overbought sectorStochastic signal line moved below overbought area
Daily :The price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the PPG Industries (PPG). During the week, the PPG dropped -1.58 points, or -1.52%, and closed at 102.14 on Friday, June 26, 2020. Weekly volume was -36% below average.

PPG is a member of Materials Sector. Materials 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 PPG long-term trend chart]
A long-term uptrend had started on October 15, 2018 at 94.37 and reached 134.36 on December 13, 2019. PPG gained -39.99 points, or -42.38%, in 60 weeks. The chart has formed a Broadening Symmetric Wedge chart pattern. The trend support level is at 65.02 and resistance is at 146.45. A Broadening Symmetric 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 Symmetric Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Symmetric Wedge pattern in a long-term trend.

Medium-term trend: [See PPG medium-term trend chart]
A medium-term uptrend had started on March 19, 2020 at 69.77 and reached 116.45 on June 5, 2020. PPG gained -46.68 points, or -66.91%, in 11 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 90.40 and resistance is at 126.09. 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 PPG weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 May 22, 2020. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See PPG short-term trend chart]
A short-term downtrend had started on June 5, 2020 at 116.45 and reached 98.41 on June 15, 2020. PPG lost 18.04 points, or 15.49%, in 10 days. The price is now at the 20.68% retracement level.

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

The daily MACD line is below its signal line since June 10, 2020. This is an indication that the short-term trend is down.

During the last week, the price has declined below 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 26.24
Williams' Percentage Range (W%R) 78.80
Lane's Stochastic (%D-Slow) 40.99
Greed/Fear Indicator (GFI) 29.49
Moving Average Converg./Diverg. (MACD) 2.08
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.76
Williams' Percentage Range (W%R) 41.70
Lane's Stochastic (%D-Slow) 77.55
Greed/Fear Indicator (GFI) 64.72
Moving Average Converg./Diverg. (MACD) -5.77
Trading Signals
Description Value Chart
Upper Bollinger Band 111.49
Weekly Stochastic Crossing 107.29
20 Day Moving Average 105.89
Parabolic System 105.71
Daily Stochastic Crossing 103.22
Price 102.14
50 Day Moving Average 97.72
Lower Bollinger Band 94.61
Monthly Trendline Support 90.40
Sector and Industry
Description Name Rank
Sector Materials 11
Industry Specialty Chemicals 80
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 107.83
High Date 06/16/2020
Low 100.14
Low Date 06/25/2020
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 116.45
High Date 06/05/2020
Low 98.41
Low Date 06/15/2020
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 126.09
Support 90.40
Low 69.77
Low Date 03/19/2020
High 116.45
High Date 06/05/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 134.36
High Date 12/13/2019
Low 69.77
Low Date 03/19/2020
Description Value
Direction Up
Chart Pattern Broadening Symmetric Wedge
Status Valid
Resistance 146.45
Support 65.02
Low 94.37
Low Date 10/15/2018
High 134.36
High Date 12/13/2019
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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