The Greedy Trader Weekly Analysis
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- 3/15/2024 -
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Weyerhaeuser Corp. (WY) Technical Analysis

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Summary:
Weekly :Broken trend resistance lineTrend support at 34.21
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SAR
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It was the negative week for the Weyerhaeuser Corp. (WY). During the week, the WY dropped -0.51 points, or -1.46%, and closed at 34.33 on Friday, March 15, 2024. It was the worst weekly loss since January 19, 2024. Weekly volume was -12% below average.

Long-term trend: [See WY long-term trend chart]
A long-term uptrend had started on September 29, 2022 at 27.37 and reached 36.00 on February 2, 2023. WY gained -8.63 points, or -31.53%, in 18 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (28.53) 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 WY medium-term trend chart]
A medium-term uptrend had started on November 1, 2023 at 28.26 and reached 35.42 on March 4, 2024. WY gained -7.16 points, or -25.34%, in 17 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (34.21) line. The support is usually stronger when technical indicators are oversold. 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 support line in a medium-term trend.

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

The weekly MACD line is above its signal line since November 24, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.

Short-term trend: [See WY short-term trend chart]
A short-term downtrend had started on March 4, 2024 at 35.42 and reached 33.86 on March 15, 2024. WY lost 1.56 points, or 4.40%, in 11 days. The price is now at the 30.13% retracement level.

Daily Technical Indicators: [See WY daily technical indicators chart]
Daily technical indicators are neutral.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 63.91
Williams' Percentage Range (W%R) 53.00
Lane's Stochastic (%D-Slow) 40.98
Greed/Fear Indicator (GFI) 50.62
Moving Average Converg./Diverg. (MACD) 0.36
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 68.29
Williams' Percentage Range (W%R) 20.80
Lane's Stochastic (%D-Slow) 63.63
Greed/Fear Indicator (GFI) 64.92
Moving Average Converg./Diverg. (MACD) 0.50
Trading Signals
Description Value Chart
Monthly Trendline Resistance 40.75
Upper Bollinger Band 35.68
Parabolic System 35.39
Price 34.33
Daily Stochastic Crossing 34.23
Monthly Trendline Support 34.21
Weekly Stochastic Crossing 34.19
20 Day Moving Average 34.09
Quarterly Trendline Resistance 33.72
50 Day Moving Average 33.55
Lower Bollinger Band 32.62
Quarterly Trendline Support 28.53
Sector and Industry
Description Name Rank
Sector Real Estate 3
Industry Specialized REITs 33
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 35.42
High Date 03/04/2024
Low 33.86
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 31.91
Low Date 01/26/2024
High 35.42
High Date 03/04/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Test Support
Resistance 40.75
Support 34.21
Low 28.26
Low Date 11/01/2023
High 35.42
High Date 03/04/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 33.72
Support 28.53
Low 27.37
Low Date 09/29/2022
High 36.00
High Date 02/02/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 43.04
High Date 02/09/2022
Low 27.37
Low Date 09/29/2022
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.