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

Edison Int'l (EIX)

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Summary:
Weekly :Oversold sectorPrice is near the Fibonacci 23.6% retracement level
Daily :The price has risen above the Parabolic SARThe period of low volatility of the stock pricePrice is close to the 50 Day Moving Average
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It was the negative week for the Edison Int'l (EIX). During the week, the EIX gave back -0.52 points, or -0.83%, and closed at 62.30 on Friday, January 8, 2021. Weekly volume was -36% below average.

EIX is a member of Utilities Sector. Utilities is the second most oversold 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 EIX long-term trend chart]
A long-term uptrend had started on March 16, 2020 at 43.63 and reached 66.68 on November 18, 2020. EIX gained -23.05 points, or -52.83%, in 35 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 44.97 and resistance is at 67.49. 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 EIX medium-term trend chart]
A medium-term uptrend had started on September 23, 2020 at 48.47 and reached 66.68 on November 18, 2020. EIX gained -18.21 points, or -37.57%, in 8 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Weekly Technical Indicators: [See EIX weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since September 25, 2020. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See EIX short-term trend chart]
A short-term uptrend had started on January 7, 2021 at 61.51 and reached 62.43 on January 8, 2021. EIX gained -0.92 points, or -1.50%, in 1 days. The price is now at the 14.13% retracement level.

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

The daily MACD line is below its signal line since November 24, 2020. The distance between MACD and the signal line is low and getting smaller.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

The distance between the Bollinger Bands is falling, and it was 4.88% on Friday. It is 68.71% lower than one year average. It indicates the period of low volatility of the stock price. 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.

Price is close to the 50 Day Moving Average. 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) 47.01
Williams' Percentage Range (W%R) 41.80
Lane's Stochastic (%D-Slow) 52.76
Greed/Fear Indicator (GFI) 52.64
Moving Average Converg./Diverg. (MACD) 0.07
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 70.50
Williams' Percentage Range (W%R) 24.70
Lane's Stochastic (%D-Slow) 62.53
Greed/Fear Indicator (GFI) 64.68
Moving Average Converg./Diverg. (MACD) 0.61
Trading Signals
Description Value Chart
Yearly Trendline Resistance 67.49
Weekly Stochastic Crossing 64.03
Upper Bollinger Band 63.56
Price 62.30
20 Day Moving Average 62.19
Daily Stochastic Crossing 61.88
50 Day Moving Average 61.82
Lower Bollinger Band 60.52
Parabolic System 59.98
Sector and Industry
Description Name Rank
Sector Utilities 2
Industry Electric Utilities 12
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 61.51
Low Date 01/07/2021
High 62.43
High Date 01/08/2021
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 63.83
High Date 12/16/2020
Low 59.91
Low Date 01/05/2021
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 66.68
High Date 11/18/2020
Low 59.91
Low Date 01/05/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 48.47
Low Date 09/23/2020
High 66.68
High Date 11/18/2020
Description Value
Direction Up
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 67.49
Support 44.97
Low 43.63
Low Date 03/16/2020
High 66.68
High Date 11/18/2020
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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