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

iShares MSCI Emerg Mkts Index (EEM)

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Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionRelative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overboughtBroken trend resistance line
Daily :Williams' Percentage Range and Lane's Stochastic are strongly overboughtDaily  MACD line has moved above its signal lineThe price is above the upper Bollinger Band
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It was a second consecutive positive week for the iShares MSCI Emerg Mkts Index (EEM). During the week, the EEM gained 3.04 points, or 5.88%, and closed at 54.71 on Friday, January 8, 2021. It was the best weekly gain since November 6, 2020. EEM was trading at average weekly trading volume.

Long-term trend: [See EEM long-term trend chart]
A long-term downtrend had started on January 26, 2018 at 52.08 and reached 30.10 on March 23, 2020. EEM lost 21.98 points, or 42.20%, in 112 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend resistance line (25.78) 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. EEM 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 EEM medium-term trend chart]
A medium-term uptrend had started on September 25, 2020 at 42.29 and reached 54.74 on January 8, 2021. EEM gained -12.45 points, or -29.44%, in 15 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (50.52) 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 EEM weekly technical indicators chart]
Weekly Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index or strongly 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, Relative Strength Index and Williams' Percentage Range 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 EEM short-term trend chart]
A short-term uptrend had started on December 22, 2020 at 49.77 and reached 54.74 on January 8, 2021. EEM gained -4.97 points, or -9.99%, in 17 days. Price is near the trend high.

Daily Technical Indicators: [See EEM daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

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) 74.47
Williams' Percentage Range (W%R) 9.90
Strong Overbought
Lane's Stochastic (%D-Slow) 90.40
Strong Overbought
Greed/Fear Indicator (GFI) 85.00
Overbought
Moving Average Converg./Diverg. (MACD) 0.81
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 82.86
Overbought
Williams' Percentage Range (W%R) 3.90
Strong Overbought
Lane's Stochastic (%D-Slow) 93.52
Strong Overbought
Greed/Fear Indicator (GFI) 85.18
Overbought
Moving Average Converg./Diverg. (MACD) 2.06
Trading Signals
Description Value Chart
Price 54.71
Daily Stochastic Crossing 54.51
Weekly Stochastic Crossing 54.22
Upper Bollinger Band 54.08
Monthly Trendline Resistance 53.31
Parabolic System 52.27
20 Day Moving Average 51.31
Monthly Trendline Support 50.52
50 Day Moving Average 49.58
Lower Bollinger Band 48.97
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 49.77
Low Date 12/22/2020
High 54.74
High Date 01/08/2021
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 49.77
Low Date 12/22/2020
High 54.74
High Date 01/08/2021
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 53.31
Support 50.52
Low 42.29
Low Date 09/25/2020
High 54.74
High Date 01/08/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 30.10
Low Date 03/23/2020
High 54.74
High Date 01/08/2021
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Broken Resistance
Resistance 43.40
Support 25.78
High 52.08
High Date 01/26/2018
Low 30.10
Low Date 03/23/2020
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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