The Greedy Trader Weekly Analysis
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Archive
- 6/7/2019
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PPG Industries
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Summary:
Weekly :Broken trend resistance line
Daily :Williams' Percentage Range is overboughtLane's Stochastic is strongly overboughtStochastic has raised above the signal lineDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARPrice has crossed above the 50 Day Moving AverageBroken trend resistance lineThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week after 6 consecutive negative weeks for the PPG Industries (PPG). During the week, the PPG gained 9.34 points, or 8.92%, and closed at 113.99 on Friday, June 7, 2019. Weekly volume was 31% above average.

Long-term trend: [See PPG long-term trend chart]
A long-term downtrend had started on January 18, 2018 at 122.07 and reached 94.37 on October 15, 2018. PPG lost 27.70 points, or 22.69%, in 38 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend resistance line (85.44) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. PPG may retest the broken resistance line. It is considered to be a support 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 resistance line in a long-term trend.

Medium-term trend: [See PPG medium-term trend chart]
A medium-term uptrend had started on October 15, 2018 at 94.37 and reached 121.29 on April 18, 2019. PPG gained -26.92 points, or -28.53%, in 26 weeks. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The trend support level is at 94.50 and resistance is at 124.90. 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 Right-Angled, Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Ascending Wedge pattern in a medium-term trend.

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

The weekly MACD line is below its signal line since May 17, 2019. 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 April 18, 2019 at 121.29 and reached 104.44 on June 3, 2019. PPG lost 16.85 points, or 13.89%, in 46 days. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (103.23) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. PPG may retest the broken resistance line. It is considered to be a support 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 resistance line in a short-term trend.

Daily Technical Indicators: [See PPG daily technical indicators chart]
Daily Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range or strongly overbought daily Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish 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.

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) 55.30
Williams' Percentage Range (W%R) 10.00
Overbought
Lane's Stochastic (%D-Slow) 91.40
Strong Overbought
Greed/Fear Indicator (GFI) 78.91
Moving Average Converg./Diverg. (MACD) -1.30
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 51.38
Williams' Percentage Range (W%R) 35.30
Lane's Stochastic (%D-Slow) 32.13
Greed/Fear Indicator (GFI) 49.56
Moving Average Converg./Diverg. (MACD) 1.76
Trading Signals
Description Value Chart
Monthly Trendline Resistance 124.90
Upper Bollinger Band 116.01
Daily Stochastic Crossing 114.22
Price 113.99
50 Day Moving Average 113.34
Quarterly Trendline Resistance 111.17
20 Day Moving Average 109.84
Weekly Stochastic Crossing 108.77
Weekly Trendline Resistance 107.94
Parabolic System 105.94
Lower Bollinger Band 105.57
Weekly Trendline Support 103.23
Monthly Trendline Support 94.50
Sector and Industry
Description Name Rank
Sector Conglomerates 5
Industry Conglomerates 83
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 104.44
Low Date 06/03/2019
High 114.57
High Date 06/07/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 107.94
Support 103.23
High 121.29
High Date 04/18/2019
Low 104.44
Low Date 06/03/2019
Description Value
Direction Up
Chart Pattern Broadening Right-Angled, Ascending Wedge
Status Valid
Resistance 124.90
Support 94.50
Low 94.37
Low Date 10/15/2018
High 121.29
High Date 04/18/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Broken Resistance
Resistance 111.17
Support 85.44
High 122.07
High Date 01/18/2018
Low 94.37
Low Date 10/15/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 94.46
Low Date 12/30/2016
High 122.07
High Date 01/18/2018
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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