The Greedy Trader Weekly Analysis
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- 3/15/2024 -
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S&P Global, Inc. (SPGI) Technical Analysis

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Summary:
Weekly :Overbought sectorTrend resistance at 411.90
Daily :Williams' Percentage Range is oversoldMACD bullish divergenceThe price has risen above the Parabolic SARThe Bollinger Bands are historically close together
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It was the negative week for the S&P Global, Inc. (SPGI). During the week, the SPGI dropped -5.42 points, or -1.27%, and closed at 422.81 on Friday, March 15, 2024. Weekly volume was -13% below average.

SPGI is a member of Financials Sector. Financials 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 SPGI long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 279.32 and reached 461.16 on February 7, 2024. SPGI gained -181.84 points, or -65.10%, in 68 weeks. The price is now at the 21.09% retracement level.

Medium-term trend: [See SPGI medium-term trend chart]
A medium-term downtrend had started on February 7, 2024 at 461.16 and reached 417.47 on February 14, 2024. SPGI lost 43.69 points, or 9.47%, in 1 weeks. The chart has formed a Symmetric Triangle chart pattern. The price is near the trend resistance line (411.90). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.

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

The weekly MACD line is below its signal line since February 23, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.

Short-term trend: [See SPGI short-term trend chart]
A short-term uptrend had started on March 5, 2024 at 421.39 and reached 430.73 on March 7, 2024. SPGI gained -9.34 points, or -2.22%, in 2 days. The price is now at the 84.80% retracement level.

Daily Technical Indicators: [See SPGI daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range. Daily MACD has bullish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 Williams' Percentage Range help.

The daily MACD line is below its signal line since March 14, 2024. The distance between MACD and the signal line is low and getting smaller.

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.

The distance between the Bollinger Bands (3.77%) is close to one year low (3.63%). It is 58.39% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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) 32.71
Williams' Percentage Range (W%R) 93.60
Strong Oversold
Lane's Stochastic (%D-Slow) 44.59
Greed/Fear Indicator (GFI) 27.89
Moving Average Converg./Diverg. (MACD) -2.77 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.94
Williams' Percentage Range (W%R) 34.10
Lane's Stochastic (%D-Slow) 24.02
Greed/Fear Indicator (GFI) 45.53
Moving Average Converg./Diverg. (MACD) 14.66
Trading Signals
Description Value Chart
Upper Bollinger Band 436.60
50 Day Moving Average 435.35
20 Day Moving Average 427.69
Weekly Stochastic Crossing 427.69
Daily Stochastic Crossing 424.07
Weekly Trendline Support 423.80
Price 422.81
Lower Bollinger Band 420.62
Parabolic System 417.86
Weekly Trendline Resistance 411.90
Sector and Industry
Description Name Rank
Sector Financials 11
Industry Financial Exchanges & Data 32
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 421.39
Low Date 03/05/2024
High 430.73
High Date 03/07/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Test Resistance
Resistance 411.90
Support 423.80
High 461.16
High Date 02/07/2024
Low 417.47
Low Date 02/14/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 340.49
Low Date 10/30/2023
High 461.16
High Date 02/07/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 279.32
Low Date 10/13/2022
High 461.16
High Date 02/07/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 484.21
High Date 12/16/2021
Low 279.32
Low Date 10/13/2022
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.