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|It was a first positive week after 3 consecutive negative weeks for the Viacom Inc. (VIAB). During the week, the VIAB gained 0.65 points, or 2.27%, and closed at 29.25 on Friday, May 10, 2019. VIAB was trading at average weekly trading volume. |
Long-term trend: [See VIAB long-term trend chart]
A long-term uptrend had started on November 16, 2017 at 22.13 and reached 35.55 on January 12, 2018. VIAB gained -13.42 points, or -60.64%, in 8 weeks. The chart has formed a Rectangle chart pattern. The trend support level is at 27.23 and resistance is at 40.89. A rectangle chart pattern is characterized as a short-term horizontal channel and represents a trading range and indecision area that is usually resolves in the direction of the main trend. Chart analysis usually considers a rectangle pattern a continuation formation, but it can also mark significant top and bottom. A rectangle pattern within younger parent trend has more chances to mark a continuation. Use the following link to access a Rectangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rectangle pattern in a long-term trend.
Medium-term trend: [See VIAB medium-term trend chart]
A medium-term downtrend had started on September 27, 2018 at 34.44 and reached 23.31 on December 27, 2018. VIAB lost 11.13 points, or 32.32%, in 13 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (25.75) 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 medium-term trend.
Weekly Technical Indicators: [See VIAB weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since April 5, 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 VIAB short-term trend chart]
A short-term uptrend had started on March 22, 2019 at 24.85 and reached 30.70 on April 17, 2019. VIAB gained -5.85 points, or -23.54%, in 26 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See VIAB daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since April 22, 2019. 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.
During the last week, the price has moved above 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 price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish 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.