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Archive
- 5/10/2019
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Varian Medical Systems
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Summary:
Weekly :Oversold sectorBroken trend resistance line
Daily :Stochastic has declined below the signal lineDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SAR20 Day Moving Average has crossed below the 50 Day Moving AveragePrice is near the Fibonacci 38.2% retracement levelThe 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 Varian Medical Systems (VAR). During the week, the VAR dropped -4.35 points, or -3.13%, and closed at 134.78 on Friday, May 10, 2019. Weekly volume was -21% below average.

VAR is a member of Healthcare Sector. Healthcare is the most oversold 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 VAR long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 27.10 and reached 142.50 on April 1, 2019. VAR gained -115.40 points, or -425.83%, in 525 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (91.86) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 VAR medium-term trend chart]
A medium-term uptrend had started on October 23, 2018 at 101.42 and reached 142.50 on April 1, 2019. VAR gained -41.08 points, or -40.50%, in 22 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 114.05 and resistance is at 147.98. 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 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 VAR weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since April 26, 2019. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.

Short-term trend: [See VAR short-term trend chart]
A short-term uptrend had started on April 25, 2019 at 126.05 and reached 139.87 on May 3, 2019. VAR gained -13.82 points, or -10.96%, in 8 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See VAR daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). 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.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

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.

During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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) 62.57
Williams' Percentage Range (W%R) 51.50
Lane's Stochastic (%D-Slow) 45.76
Greed/Fear Indicator (GFI) 52.27
Moving Average Converg./Diverg. (MACD) -0.45
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.88
Williams' Percentage Range (W%R) 23.00
Lane's Stochastic (%D-Slow) 58.67
Greed/Fear Indicator (GFI) 62.41
Moving Average Converg./Diverg. (MACD) 5.29
Trading Signals
Description Value Chart
Monthly Trendline Resistance 147.98
Upper Bollinger Band 141.76
Parabolic System 140.01
50 Day Moving Average 136.87
20 Day Moving Average 135.26
Price 134.78
Weekly Stochastic Crossing 134.48
Daily Stochastic Crossing 134.44
Lower Bollinger Band 129.93
Yearly Trendline Resistance 124.29
Monthly Trendline Support 114.05
Sector and Industry
Description Name Rank
Sector Healthcare 1
Industry Medical Appliances/Equip. 41
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 126.05
Low Date 04/25/2019
High 139.87
High Date 05/03/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 142.50
High Date 04/01/2019
Low 126.05
Low Date 04/25/2019
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 147.98
Support 114.05
Low 101.42
Low Date 10/23/2018
High 142.50
High Date 04/01/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 71.07
Low Date 09/28/2015
High 142.50
High Date 04/01/2019
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 124.29
Support 91.86
Low 27.10
Low Date 03/06/2009
High 142.50
High Date 04/01/2019
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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