The Greedy Trader Weekly Analysis
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- 3/15/2024 -
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WestRock (WRK) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken uptrend resistance line - uptrend exhaustionBroken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range and Lane's Stochastic are strongly overboughtMACD bearish divergence
Daily :Relative Strength Index and Williams' Percentage Range are overboughtLane's Stochastic is strongly overboughtThe price is above the upper Bollinger Band
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It was a sixth consecutive positive week for the WestRock (WRK). During the week, the WRK gained 3.04 points, or 6.67%, and closed at 48.60 on Friday, March 15, 2024. Weekly volume was -19% below average.

WRK is a member of Materials Sector. Materials 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 WRK long-term trend chart]
A long-term uptrend had started on March 17, 2023 at 26.84 and reached 48.96 on March 15, 2024. WRK gained -22.12 points, or -82.41%, in 52 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (40.30) 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 WRK medium-term trend chart]
A medium-term uptrend had started on February 6, 2024 at 38.30 and reached 48.96 on March 15, 2024. WRK gained -10.66 points, or -27.83%, in 5 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (47.72) 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 medium-term trend.

Weekly Technical Indicators: [See WRK weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range and Lane's Stochastic. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly MACD bearish 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since February 16, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See WRK short-term trend chart]
A short-term uptrend had started on March 14, 2024 at 47.13 and reached 48.96 on March 15, 2024. WRK gained -1.83 points, or -3.88%, in 1 days. The price is now at the 19.67% retracement level.

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

The daily MACD line is above its signal line since February 7, 2024. This is an indication that the short-term trend is up.

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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) 83.80
Overbought
Williams' Percentage Range (W%R) 11.80
Overbought
Lane's Stochastic (%D-Slow) 91.61
Strong Overbought
Greed/Fear Indicator (GFI) 87.88
Overbought
Moving Average Converg./Diverg. (MACD) 1.14
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 68.20
Williams' Percentage Range (W%R) 4.30
Strong Overbought
Lane's Stochastic (%D-Slow) 90.91
Strong Overbought
Greed/Fear Indicator (GFI) 82.08
Overbought
Moving Average Converg./Diverg. (MACD) 2.30 Bearish
Trading Signals
Description Value Chart
Price 48.60
Daily Stochastic Crossing 48.57
Weekly Stochastic Crossing 48.21
Upper Bollinger Band 48.08
Monthly Trendline Resistance 47.84
Monthly Trendline Support 47.72
Quarterly Trendline Resistance 46.48
Parabolic System 46.11
20 Day Moving Average 45.23
50 Day Moving Average 42.83
Lower Bollinger Band 42.47
Quarterly Trendline Support 40.30
Sector and Industry
Description Name Rank
Sector Materials 10
Industry Paper Packaging 70
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 47.13
Low Date 03/14/2024
High 48.96
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 47.13
Low Date 03/14/2024
High 48.96
High Date 03/15/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 47.84
Support 47.72
Low 38.30
Low Date 02/06/2024
High 48.96
High Date 03/15/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 46.48
Support 40.30
Low 26.84
Low Date 03/17/2023
High 48.96
High Date 03/15/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 57.67
High Date 06/14/2021
Low 26.84
Low Date 03/17/2023
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.