The Greedy Trader Weekly Analysis
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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 line - Downtrend exhaustionWilliams' Percentage Range is oversoldBroken trend support line
Daily :Williams' Percentage Range oversoldLane's Stochastic is strongly oversoldThe price touches the lower Bollinger Band
Move cursor over the icon to see details.

It was the negative week for the iShares MSCI Canada Index (EWC). During the week, the EWC dropped -1.26 points, or -4.42%, and closed at 27.27 on Friday, October 12, 2018. Weekly volume was 22% above average.

Long-term trend: [See EWC long-term trend chart]
A long-term uptrend had started on April 4, 2018 at 26.91 and reached 29.61 on May 22, 2018. EWC gained -2.70 points, or -10.03%, in 6 weeks. The chart has formed a Descending Triangle chart pattern. The uptrend support line (29.19) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. EWC may retest the broken support line. It is considered to be a resistance 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 support in a long-term trend.

Medium-term trend: [See EWC medium-term trend chart]
A medium-term downtrend had started on August 28, 2018 at 29.54 and reached 27.05 on October 12, 2018. EWC lost 2.49 points, or 8.43%, in 6 weeks. The chart has formed a Rising Pennant chart pattern. The downtrend support line (29.19) is broken, while daily and weekly technical indicators are oversold. Downtrend 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 support in a medium-term trend.

Weekly Technical Indicators: [See EWC weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 link to access Williams' Percentage Range help.

The weekly MACD line is below its signal line since August 31, 2018. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.

Short-term trend: [See EWC short-term trend chart]
A short-term downtrend had started on October 1, 2018 at 29.25 and reached 27.05 on October 12, 2018. EWC lost 2.20 points, or 7.52%, in 11 days. The price is now at the 10.00% retracement level.

Daily Technical Indicators: [See EWC daily technical indicators chart]
Daily Williams' Percentage Range is oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Williams' Percentage Range or strongly oversold daily Lane's Stochastic. Use the following link to access Lane's Stochastic help.

The daily MACD line is below its signal line since October 4, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.

The price touches the lower Bollinger Band. 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) 21.58
Williams' Percentage Range (W%R) 81.80
Oversold
Lane's Stochastic (%D-Slow) 8.28
Strong Oversold
Greed/Fear Indicator (GFI) 16.01
Oversold
Moving Average Converg./Diverg. (MACD) -0.11
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 34.81
Williams' Percentage Range (W%R) 83.90
Oversold
Lane's Stochastic (%D-Slow) 39.50
Greed/Fear Indicator (GFI) 32.63
Moving Average Converg./Diverg. (MACD) 0.07
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 29.51
Upper Bollinger Band 29.48
Weekly Trendline Support 29.19
Quarterly Trendline Support 29.19
Weekly Trendline Resistance 29.03
50 Day Moving Average 28.69
20 Day Moving Average 28.55
Parabolic System 28.28
Weekly Stochastic Crossing 28.14
Price 27.27
Lower Bollinger Band 27.22
Daily Stochastic Crossing 27.17
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 29.25
High Date 10/01/2018
Low 27.05
Low Date 10/12/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Rising Pennant
Status Broken Support
Resistance 29.03
Support 29.19
High 29.54
High Date 08/28/2018
Low 27.05
Low Date 10/12/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 29.61
High Date 05/22/2018
Low 27.05
Low Date 10/12/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Descending Triangle
Status Broken Support
Resistance 29.51
Support 29.19
Low 26.91
Low Date 04/04/2018
High 29.61
High Date 05/22/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
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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