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

Cboe Globa (CBOE)

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Summary:
Weekly :Overbought sectorBroken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range and Lane's Stochastic are overboughtPrice is near the Fibonacci 23.6% retracement level
Daily :Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overboughtThe price is above the upper Bollinger Band
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It was a fourth consecutive positive week for the Cboe Globa (CBOE). During the week, the CBOE gained 5.69 points, or 6.11%, and closed at 98.81 on Friday, January 8, 2021. Weekly volume was -17% below average.

CBOE is a member of Financials Sector. Financials 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 CBOE long-term trend chart]
A long-term uptrend had started on March 19, 2020 at 72.01 and reached 107.12 on June 1, 2020. CBOE gained -35.11 points, or -48.76%, in 10 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Medium-term trend: [See CBOE medium-term trend chart]
A medium-term uptrend had started on December 11, 2020 at 84.67 and reached 99.17 on January 8, 2021. CBOE gained -14.50 points, or -17.13%, in 4 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (93.50) 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 CBOE weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 20, 2020. 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 CBOE short-term trend chart]
A short-term uptrend had started on January 5, 2021 at 92.04 and reached 99.17 on January 8, 2021. CBOE gained -7.13 points, or -7.75%, in 3 days. The price is now at the 5.05% retracement level.

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

The daily MACD line is above its signal line since December 24, 2020. 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) 80.96
Overbought
Williams' Percentage Range (W%R) 16.40
Overbought
Lane's Stochastic (%D-Slow) 85.51
Overbought
Greed/Fear Indicator (GFI) 83.35
Overbought
Moving Average Converg./Diverg. (MACD) 1.17
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 65.04
Williams' Percentage Range (W%R) 11.00
Overbought
Lane's Stochastic (%D-Slow) 81.69
Overbought
Greed/Fear Indicator (GFI) 76.70
Moving Average Converg./Diverg. (MACD) -0.68
Trading Signals
Description Value Chart
Price 98.81
Upper Bollinger Band 98.66
Daily Stochastic Crossing 98.28
Weekly Stochastic Crossing 96.39
Monthly Trendline Resistance 95.08
Monthly Trendline Support 93.50
Parabolic System 93.20
20 Day Moving Average 91.70
50 Day Moving Average 89.65
Lower Bollinger Band 86.78
Sector and Industry
Description Name Rank
Sector Financials 11
Industry Financial Exchanges & Data 39
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 92.04
Low Date 01/05/2021
High 99.17
High Date 01/08/2021
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 92.04
Low Date 01/05/2021
High 99.17
High Date 01/08/2021
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 95.08
Support 93.50
Low 84.67
Low Date 12/11/2020
High 99.17
High Date 01/08/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 77.63
Low Date 10/29/2020
High 99.17
High Date 01/08/2021
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 72.01
Low Date 03/19/2020
High 107.12
High Date 06/01/2020
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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