The Greedy Trader Weekly Analysis
Sign In May 18, 2018
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Number of records: 15
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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 Canada Index
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Summary:
Weekly :Broken trend support lineBroken trend resistance line
Daily :Relative Strength Index and Lane's Stochastic are overboughtWilliams' Percentage Range is strongly overboughtThe price is above the upper Bollinger BandBullish Doji Candlestick
Move cursor over the icon to see details.

It was a fifth consecutive positive week for the iShares MSCI Canada Index (EWC). During the week, the EWC gained 0.71 points, or 2.51%, and closed at 29.02 on Friday, May 11, 2018. It was the best weekly gain since February 16, 2018. Weekly volume was 30% above average.

Long-term trend: [See EWC long-term trend chart]
A long-term uptrend had started on January 20, 2016 at 18.07 and reached 30.60 on January 5, 2018. EWC gained -12.53 points, or -69.34%, in 102 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (31.12) is broken. A broken support is considered to be a long-term bearish 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 support in a long-term trend.

Medium-term trend: [See EWC medium-term trend chart]
A medium-term downtrend had started on January 5, 2018 at 30.60 and reached 26.91 on April 4, 2018. EWC lost 3.69 points, or 12.06%, in 12 weeks. The chart has formed a Falling Pennant chart pattern. The downtrend resistance line (27.87) 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. EWC 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 medium-term trend.

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

The weekly MACD line is below its signal line since February 2, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See EWC short-term trend chart]
A short-term uptrend had started on April 25, 2018 at 27.69 and reached 29.08 on May 11, 2018. EWC gained -1.39 points, or -5.02%, in 16 days. Price is near the trend high.

Daily Technical Indicators: [See EWC daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Lane's Stochastic or strongly overbought daily Williams' Percentage Range. 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 daily MACD line is above its signal line since May 3, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.

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.

Candlestick pattern: [See EWC 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) 85.06
Overbought
Williams' Percentage Range (W%R) 4.30
Strong Overbought
Lane's Stochastic (%D-Slow) 88.36
Overbought
Greed/Fear Indicator (GFI) 89.70
Overbought
Moving Average Converg./Diverg. (MACD) 0.15
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 50.44
Williams' Percentage Range (W%R) 42.80
Lane's Stochastic (%D-Slow) 72.66
Greed/Fear Indicator (GFI) 61.25
Moving Average Converg./Diverg. (MACD) -0.10
Trading Signals
Description Value Chart
Yearly Trendline Resistance 31.65
Yearly Trendline Support 31.12
Price 29.02
Daily Stochastic Crossing 28.96
Upper Bollinger Band 28.92
Weekly Stochastic Crossing 28.58
Monthly Trendline Resistance 28.56
Monthly Trendline Support 28.32
20 Day Moving Average 28.26
Parabolic System 28.20
50 Day Moving Average 27.88
Quarterly Trendline Support 27.87
Lower Bollinger Band 27.66
Quarterly Trendline Resistance 26.25
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 28.16
Low Date 05/08/2018
High 29.08
High Date 05/11/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 27.69
Low Date 04/25/2018
High 29.08
High Date 05/11/2018
Description Value
Direction Up
Chart Pattern Descending Triangle
Status Broken Resistance
Resistance 28.56
Support 28.32
Low 26.91
Low Date 04/04/2018
High 29.08
High Date 05/11/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Pennant
Status Broken Resistance
Resistance 26.25
Support 27.87
High 30.60
High Date 01/05/2018
Low 26.91
Low Date 04/04/2018
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 31.65
Support 31.12
Low 18.07
Low Date 01/20/2016
High 30.60
High Date 01/05/2018
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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