The Greedy Trader Weekly Analysis
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Downtrend Broken Resistance
Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.
Technical analysis of stock trend chart following long term trend analysis and trend following indicator for broken resistance trend trading. Stock trend analysis and broken resistance trend following indicators.
trend trading,trend following,stock trend chart,technical analysis of stock trend,trend following indicator,following long term trend,Broken Resistance

Arthur J. Gallagher & Co. (AJG)

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Summary:
Weekly :Lane's Stochastic is overboughtBroken trend resistance line
Daily :Bullish Doji CandlestickThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week for the Arthur J. Gallagher & Co. (AJG). During the week, the AJG gained 1.93 points, or 2.04%, and closed at 96.67 on Friday, June 26, 2020. Weekly volume was -15% below average.

Long-term trend: [See AJG long-term trend chart]
A long-term uptrend had started on March 4, 2009 at 14.82 and reached 109.46 on February 18, 2020. AJG gained -94.64 points, or -638.60%, in 571 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (49.81) 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 AJG medium-term trend chart]
A medium-term uptrend had started on January 20, 2016 at 35.96 and reached 109.46 on February 18, 2020. AJG gained -73.50 points, or -204.39%, in 212 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 85.87 and resistance is at 117.25. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See AJG weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. 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 Lane's Stochastic help.

The weekly MACD line is above its signal line since May 22, 2020. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See AJG short-term trend chart]
A short-term uptrend had started on March 18, 2020 at 65.09 and reached 102.25 on June 10, 2020. AJG gained -37.16 points, or -57.09%, in 84 days. The chart has formed a Rising Channel chart pattern. The trend support level is at 88.20 and resistance is at 106.20. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a short-term trend.

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

The daily MACD line is below its signal line since June 11, 2020. The distance between MACD and the signal line is low and getting smaller.

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.

Candlestick pattern: [See AJG candlestick chart pattern]
On Friday the chart has formed a Bullish Doji Candlestick pattern. Use the Technical Stock Screener to see the list of stocks that had a Bullish Doji Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 39.77
Williams' Percentage Range (W%R) 57.40
Lane's Stochastic (%D-Slow) 45.02
Greed/Fear Indicator (GFI) 42.47
Moving Average Converg./Diverg. (MACD) 2.15
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 68.60
Williams' Percentage Range (W%R) 28.90
Lane's Stochastic (%D-Slow) 88.58
Overbought
Greed/Fear Indicator (GFI) 73.06
Moving Average Converg./Diverg. (MACD) -0.62
Trading Signals
Description Value Chart
Weekly Trendline Resistance 106.20
Parabolic System 100.96
Upper Bollinger Band 100.34
Weekly Stochastic Crossing 98.76
20 Day Moving Average 97.29
Daily Stochastic Crossing 97.11
Price 96.67
Lower Bollinger Band 91.14
50 Day Moving Average 89.65
Weekly Trendline Support 88.20
Quarterly Trendline Support 85.87
Sector and Industry
Description Name Rank
Sector Financials 5
Industry Insurance Brokers 88
Daily Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
High 102.25
High Date 06/10/2020
Low 92.49
Low Date 06/15/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 106.20
Support 88.20
Low 65.09
Low Date 03/18/2020
High 102.25
High Date 06/10/2020
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 109.46
High Date 02/18/2020
Low 65.09
Low Date 03/18/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 117.25
Support 85.87
Low 35.96
Low Date 01/20/2016
High 109.46
High Date 02/18/2020
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 74.78
Support 49.81
Low 14.82
Low Date 03/04/2009
High 109.46
High Date 02/18/2020
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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