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- 6/26/2020 -
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Perrigo Co (PRGO)

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Summary:
Weekly :Overbought sector
Daily :The price has fallen below the Parabolic SARThe price has declined below the moving average in the center of the Bollinger BandsPrice is close to the 50 Day Moving Average
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It was the negative week for the Perrigo Co (PRGO). During the week, the PRGO dropped -0.93 points, or -1.69%, and closed at 53.94 on Friday, June 26, 2020. Weekly volume was -56% below average.

PRGO is a member of Health Care Sector. Health Care 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 PRGO long-term trend chart]
A long-term downtrend had started on April 8, 2015 at 215.73 and reached 36.28 on December 24, 2018. PRGO lost 179.45 points, or 83.18%, in 193 weeks. The chart has formed a Falling Wedge chart pattern. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a long-term trend.

Medium-term trend: [See PRGO medium-term trend chart]
A medium-term uptrend had started on April 2, 2020 at 40.01 and reached 58.26 on June 8, 2020. PRGO gained -18.25 points, or -45.61%, in 9 weeks. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The trend support level is at 50.60 and resistance is at 60.39. 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 PRGO weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since May 8, 2020. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See PRGO short-term trend chart]
A short-term downtrend had started on June 8, 2020 at 58.26 and reached 50.14 on June 15, 2020. PRGO lost 8.12 points, or 13.94%, in 7 days. The price is now at the 46.80% retracement level.

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

The daily MACD line is below its signal line since June 9, 2020. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 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.

Price is close to the 50 Day Moving Average. 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) 35.72
Williams' Percentage Range (W%R) 44.60
Lane's Stochastic (%D-Slow) 71.03
Greed/Fear Indicator (GFI) 54.06
Moving Average Converg./Diverg. (MACD) 0.26
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 72.41
Williams' Percentage Range (W%R) 38.70
Lane's Stochastic (%D-Slow) 69.97
Greed/Fear Indicator (GFI) 63.13
Moving Average Converg./Diverg. (MACD) 0.11
Trading Signals
Description Value Chart
Weekly Trendline Resistance 60.39
Upper Bollinger Band 57.32
Parabolic System 55.71
Weekly Stochastic Crossing 55.39
Daily Stochastic Crossing 55.06
20 Day Moving Average 54.51
Price 53.94
50 Day Moving Average 53.55
Lower Bollinger Band 51.13
Weekly Trendline Support 50.60
Sector and Industry
Description Name Rank
Sector Health Care 10
Industry Pharmaceuticals 61
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 58.26
High Date 06/08/2020
Low 50.14
Low Date 06/15/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Right-Angled, Ascending Wedge
Status Valid
Resistance 60.39
Support 50.60
Low 40.01
Low Date 04/02/2020
High 58.26
High Date 06/08/2020
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 63.86
High Date 02/25/2020
Low 40.01
Low Date 04/02/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 36.28
Low Date 12/24/2018
High 63.86
High Date 02/25/2020
Description Value
Direction Down
Chart Pattern Falling Wedge
Status
Resistance
Support
High 215.73
High Date 04/08/2015
Low 36.28
Low Date 12/24/2018
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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