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.

Downtrend Broken Resist.

Archive
- 3/15/2024 -
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Equity Residential (EQR) Technical Analysis

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Summary:
Weekly :Broken trend resistance line
Daily :Stochastic has declined below the signal line
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It was the negative week for the Equity Residential (EQR). During the week, the EQR gave back -0.38 points, or -0.60%, and closed at 63.03 on Friday, March 15, 2024. EQR was trading at average weekly trading volume.

Long-term trend: [See EQR long-term trend chart]
A long-term downtrend had started on July 24, 2023 at 69.45 and reached 52.57 on November 1, 2023. EQR lost 16.88 points, or 24.31%, in 14 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (58.83) is broken. A broken support is considered to be a long-term bullish signal. 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 EQR medium-term trend chart]
A medium-term uptrend had started on November 1, 2023 at 52.57 and reached 63.77 on March 11, 2024. EQR gained -11.20 points, or -21.30%, in 18 weeks. The price is now at the 6.61% retracement level.

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

The weekly MACD line is above its signal line since December 8, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See EQR short-term trend chart]
A short-term uptrend had started on February 13, 2024 at 57.33 and reached 63.77 on March 11, 2024. EQR gained -6.44 points, or -11.23%, in 27 days. The chart has formed a Rising Channel chart pattern.

Daily Technical Indicators: [See EQR daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. 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 daily MACD line is above its signal line since February 14, 2024. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 72.42
Williams' Percentage Range (W%R) 46.80
Lane's Stochastic (%D-Slow) 73.25
Greed/Fear Indicator (GFI) 66.30
Moving Average Converg./Diverg. (MACD) 0.69
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 64.18
Williams' Percentage Range (W%R) 20.70
Lane's Stochastic (%D-Slow) 61.15
Greed/Fear Indicator (GFI) 64.13
Moving Average Converg./Diverg. (MACD) -0.46
Trading Signals
Description Value Chart
Upper Bollinger Band 64.57
Daily Stochastic Crossing 63.11
Price 63.03
Weekly Stochastic Crossing 61.81
20 Day Moving Average 61.45
Parabolic System 61.26
50 Day Moving Average 60.58
Monthly Trendline Resistance 59.07
Monthly Trendline Support 58.83
Lower Bollinger Band 58.78
Sector and Industry
Description Name Rank
Sector Real Estate 3
Industry REIT - Residential 34
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Low 57.33
Low Date 02/13/2024
High 63.77
High Date 03/11/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 52.57
Low Date 11/01/2023
High 63.77
High Date 03/11/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 59.07
Support 58.83
High 69.45
High Date 07/24/2023
Low 52.57
Low Date 11/01/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 94.32
High Date 04/21/2022
Low 52.57
Low Date 11/01/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 89.55
High Date 10/31/2019
Low 52.57
Low Date 11/01/2023
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.