The Greedy Trader Weekly Analysis
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Downtrend exhaustion - Stock Market Timing Signals and trading strategies.

Downtrend exhaustion stock alert presents a stock market trading strategy based on combination of timing signals, technical indicators, trend analysis and pattern recognition. Stock market alert is a warning signal. It indicates that long term downtrend is exhausted and probability of long term trend reversal is high. Downtrend exhaustion stock market alert presents relatively low to medium risk - high reword stock pick for undervalued stocks. The strategy is based on taking long position on anticipation of downtrend reversal. Downtrend exhaustion timing strategy and stock trading system presents alerts for S&P 500 index members, ETFs and market indices. As S&P 500 trading system it shows excellent results for index timing also.

Downtrend Exhaustion

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- 3/15/2024 -
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Macy's Inc. (M) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range is strongly overboughtBroken trend resistance line
Daily :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overbought
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It was a second consecutive positive week for the Macy's Inc. (M). During the week, the M climbed 0.04 points, or 0.19%, and closed at 21.19 on Friday, March 15, 2024. Weekly volume was -26% below average.

Long-term trend: [See M long-term trend chart]
A long-term downtrend had started on November 18, 2021 at 37.95 and reached 10.54 on October 13, 2023. M lost 27.41 points, or 72.23%, in 99 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (8.73) 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. M 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 long-term trend.

Medium-term trend: [See M medium-term trend chart]
A medium-term uptrend had started on October 13, 2023 at 10.54 and reached 21.75 on March 15, 2024. M gained -11.21 points, or -106.36%, in 22 weeks. Price is near the trend high.

Weekly Technical Indicators: [See M weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought 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 27, 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 M short-term trend chart]
A short-term uptrend had started on February 29, 2024 at 17.11 and reached 21.75 on March 15, 2024. M gained -4.64 points, or -27.12%, in 15 days. The price is now at the 12.07% retracement level.

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

The daily MACD line is above its signal line since March 4, 2024. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 59.85
Williams' Percentage Range (W%R) 7.50
Strong Overbought
Lane's Stochastic (%D-Slow) 82.76
Overbought
Greed/Fear Indicator (GFI) 78.36
Moving Average Converg./Diverg. (MACD) 0.45
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 65.45
Williams' Percentage Range (W%R) 3.10
Strong Overbought
Lane's Stochastic (%D-Slow) 66.37
Greed/Fear Indicator (GFI) 71.94
Moving Average Converg./Diverg. (MACD) 1.05
Trading Signals
Description Value Chart
Upper Bollinger Band 22.21
Daily Stochastic Crossing 21.46
Price 21.19
Weekly Stochastic Crossing 20.28
20 Day Moving Average 19.84
50 Day Moving Average 19.13
Parabolic System 19.08
Lower Bollinger Band 17.90
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 7
Industry Department Stores 44
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 17.11
Low Date 02/29/2024
High 21.75
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 17.11
Low Date 02/29/2024
High 21.75
High Date 03/15/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 17.11
Low Date 02/29/2024
High 21.75
High Date 03/15/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 10.54
Low Date 10/13/2023
High 21.75
High Date 03/15/2024
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 13.31
Support 8.73
High 37.95
High Date 11/18/2021
Low 10.54
Low Date 10/13/2023
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.