The Greedy Trader Weekly Analysis
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Archive
- 6/7/2019
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Perrigo Co
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Summary:
Weekly :Broken trend resistance line
Daily :Broken trend resistance lineStochastic signal line moved above oversold area
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It was a first positive week after 3 consecutive negative weeks for the Perrigo Co (PRGO). During the week, the PRGO gained 2.00 points, or 4.76%, and closed at 44.02 on Friday, June 7, 2019. Weekly volume was -31% below average.

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. The downtrend resistance line (27.33) is broken. A broken support is considered to be a long-term bullish signal. 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 PRGO medium-term trend chart]
A medium-term downtrend had started on January 26, 2018 at 95.93 and reached 36.28 on December 24, 2018. PRGO lost 59.65 points, or 62.18%, in 47 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 10.70 and resistance is at 50.76. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending 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 February 22, 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 PRGO short-term trend chart]
A short-term downtrend had started on May 9, 2019 at 52.97 and reached 40.68 on May 31, 2019. PRGO lost 12.29 points, or 23.20%, in 22 days. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (39.15) is broken. A broken support is considered to be a long-term bullish signal. 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 PRGO daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. 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 link to access Lane's Stochastic help.

The daily MACD line is below its signal line since May 14, 2019. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 28.32
Williams' Percentage Range (W%R) 76.30
Lane's Stochastic (%D-Slow) 36.96
Greed/Fear Indicator (GFI) 29.65
Moving Average Converg./Diverg. (MACD) -1.33
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 39.36
Williams' Percentage Range (W%R) 77.20
Lane's Stochastic (%D-Slow) 43.15
Greed/Fear Indicator (GFI) 37.38
Moving Average Converg./Diverg. (MACD) -3.95
Trading Signals
Description Value Chart
Upper Bollinger Band 52.27
Quarterly Trendline Resistance 50.76
50 Day Moving Average 48.56
20 Day Moving Average 46.91
Weekly Stochastic Crossing 45.09
Parabolic System 44.57
Price 44.02
Daily Stochastic Crossing 42.69
Weekly Trendline Resistance 41.88
Lower Bollinger Band 39.98
Weekly Trendline Support 39.15
Yearly Trendline Resistance 37.98
Sector and Industry
Description Name Rank
Sector Healthcare 3
Industry Drug Related Products 47
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 40.68
Low Date 05/31/2019
High 44.80
High Date 06/05/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 41.88
Support 39.15
High 52.97
High Date 05/09/2019
Low 40.68
Low Date 05/31/2019
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 36.28
Low Date 12/24/2018
High 52.97
High Date 05/09/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 50.76
Support 10.70
High 95.93
High Date 01/26/2018
Low 36.28
Low Date 12/24/2018
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 37.98
Support 27.33
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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