The Greedy Trader Weekly Analysis
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CBS Corp. (CBS)

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Summary:
Weekly :Broken trend resistance line
Daily :Williams' Percentage Range is overboughtLane's Stochastic is strongly overboughtStochastic has declined below the signal lineMACD bearish divergenceBroken trend resistance line20 Day Moving Average has crossed above the 50 Day Moving Average
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It was a fifth positive week after 6 consecutive negative weeks for the CBS Corp. (CBS). During the week, the CBS gained 0.86 points, or 2.18%, and closed at 40.38 on Friday, November 29, 2019. Weekly volume was -11% below average.

Long-term trend: [See CBS long-term trend chart]
A long-term downtrend had started on April 5, 2017 at 70.10 and reached 35.02 on October 31, 2019. CBS lost 35.08 points, or 50.04%, in 134 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 30.15 and resistance is at 50.81. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.

Medium-term trend: [See CBS medium-term trend chart]
A medium-term downtrend had started on July 16, 2019 at 53.71 and reached 35.02 on October 31, 2019. CBS lost 18.69 points, or 34.80%, in 15 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (32.34) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. CBS may retest the broken resistance line. It is considered to be a support line now. 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 CBS weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since August 9, 2019. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See CBS short-term trend chart]
A short-term uptrend had started on October 31, 2019 at 35.02 and reached 40.75 on November 27, 2019. CBS gained -5.73 points, or -16.36%, in 27 days. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (39.49) 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 short-term trend.

Daily Technical Indicators: [See CBS daily technical indicators chart]
Daily Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range or strongly overbought daily Lane's Stochastic. 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. Daily 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 daily 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 daily MACD line is above its signal line since October 25, 2019. This is an indication that the short-term trend is up.

During the last week, the 20 Day Moving Average 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 64.21
Williams' Percentage Range (W%R) 11.10
Overbought
Lane's Stochastic (%D-Slow) 92.85
Strong Overbought
Greed/Fear Indicator (GFI) 81.98
Overbought
Moving Average Converg./Diverg. (MACD) 0.30 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 46.46
Williams' Percentage Range (W%R) 72.10
Lane's Stochastic (%D-Slow) 37.09
Greed/Fear Indicator (GFI) 36.80
Moving Average Converg./Diverg. (MACD) -2.87
Trading Signals
Description Value Chart
Upper Bollinger Band 41.37
Daily Stochastic Crossing 40.58
Price 40.38
Weekly Trendline Resistance 40.22
Weekly Trendline Support 39.49
20 Day Moving Average 38.58
Parabolic System 38.36
50 Day Moving Average 38.36
Weekly Stochastic Crossing 37.55
Lower Bollinger Band 36.43
Monthly Trendline Support 32.34
Sector and Industry
Description Name Rank
Sector Services 5
Industry Broadcasting - TV 18
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 38.52
Low Date 11/21/2019
High 40.75
High Date 11/27/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 40.22
Support 39.49
Low 35.02
Low Date 10/31/2019
High 40.75
High Date 11/27/2019
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 32.12
Support 32.34
High 53.71
High Date 07/16/2019
Low 35.02
Low Date 10/31/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 59.59
High Date 07/11/2018
Low 35.02
Low Date 10/31/2019
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 50.81
Support 30.15
High 70.10
High Date 04/05/2017
Low 35.02
Low Date 10/31/2019
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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