The Greedy Trader Weekly Analysis
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Archive
- 1/11/2019
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Varian Medical Systems
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Summary:
Weekly :Overbought sectorBroken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is overbought
Daily :Williams' Percentage Range and Lane's Stochastic are strongly overbought
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It was a third consecutive positive week for the Varian Medical Systems (VAR). During the week, the VAR gained 7.00 points, or 5.90%, and closed at 125.65 on Friday, January 11, 2019. It was the best weekly gain since November 30, 2018. Weekly volume was 26% above average.

VAR is a member of Healthcare Sector. Healthcare 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 VAR long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 27.10 and reached 130.29 on January 26, 2018. VAR gained -103.19 points, or -380.77%, in 464 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (89.84) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 September 28, 2015 at 71.07 and reached 130.29 on January 26, 2018. VAR gained -59.22 points, or -83.33%, in 121 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 85.49 and resistance is at 148.17. 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 Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. 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 weekly MACD line is above its signal line since October 26, 2018. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See VAR short-term trend chart]
A short-term downtrend had started on December 3, 2018 at 126.84 and reached 105.32 on December 24, 2018. VAR lost 21.52 points, or 16.97%, in 21 days. The price is now at the 94.47% retracement level.

Daily Technical Indicators: [See VAR daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since January 3, 2019. The distance between MACD and the signal line is near its high and getting bigger.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 75.92
Williams' Percentage Range (W%R) 8.20
Strong Overbought
Lane's Stochastic (%D-Slow) 96.06
Strong Overbought
Greed/Fear Indicator (GFI) 87.93
Overbought
Moving Average Converg./Diverg. (MACD) 0.19
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 63.09
Williams' Percentage Range (W%R) 10.90
Overbought
Lane's Stochastic (%D-Slow) 57.39
Greed/Fear Indicator (GFI) 68.47
Moving Average Converg./Diverg. (MACD) 0.17
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 148.17
Upper Bollinger Band 129.31
Monthly Trendline Resistance 126.31
Price 125.65
Daily Stochastic Crossing 125.02
Yearly Trendline Resistance 122.27
50 Day Moving Average 117.81
Weekly Stochastic Crossing 116.86
20 Day Moving Average 115.82
Parabolic System 115.52
Lower Bollinger Band 106.48
Sector and Industry
Description Name Rank
Sector Healthcare 9
Industry Medical Appliances/Equip. 138
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 126.84
High Date 12/03/2018
Low 105.32
Low Date 12/24/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 101.42
Low Date 10/23/2018
High 126.84
High Date 12/03/2018
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Test Resistance
Resistance 126.31
Support 98.34
High 130.29
High Date 01/26/2018
Low 101.42
Low Date 10/23/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 148.17
Support 85.49
Low 71.07
Low Date 09/28/2015
High 130.29
High Date 01/26/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 122.27
Support 89.84
Low 27.10
Low Date 03/06/2009
High 130.29
High Date 01/26/2018
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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