The Greedy Trader Weekly Analysis
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Number of records: 10
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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 lineWeekly  MACD line has moved above its signal line
Daily :Relative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overboughtRelative Strength Index and MACD bearish divergence20 Day Moving Average has crossed above the 50 Day Moving Average
Move cursor over the icon to see details.

It was a sixth positive week after 3 consecutive negative weeks for the iShares MSCI Canada Index (EWC). During the week, the EWC gained 0.51 points, or 1.92%, and closed at 27.13 on Friday, February 1, 2019. Weekly volume was -17% below 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 Pennant chart pattern. The uptrend support line (30.24) 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 May 22, 2018 at 29.61 and reached 22.89 on December 26, 2018. EWC lost 6.72 points, or 22.70%, in 31 weeks. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 21.87 and resistance is at 29.43. 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 Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a medium-term trend.

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

During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. 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 December 26, 2018 at 22.89 and reached 27.19 on February 1, 2019. EWC gained -4.30 points, or -18.79%, in 37 days. Price is near the trend high.

Daily Technical Indicators: [See EWC daily technical indicators chart]
Daily 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 daily Relative Strength Index or strongly overbought daily Williams' Percentage Range and Lane's Stochastic. Daily Relative Strength Index and MACD have bearish divergence. Use the following links to access the Relative Strength Index and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The daily MACD line is above its signal line since January 2, 2019. This is an indication that the short-term trend is up.

During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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) 82.79
Overbought Bearish
Williams' Percentage Range (W%R) 3.80
Strong Overbought
Lane's Stochastic (%D-Slow) 96.68
Strong Overbought
Greed/Fear Indicator (GFI) 91.88
Strong Overbought
Moving Average Converg./Diverg. (MACD) 0.35 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.08
Williams' Percentage Range (W%R) 34.10
Lane's Stochastic (%D-Slow) 64.18
Greed/Fear Indicator (GFI) 60.49
Moving Average Converg./Diverg. (MACD) -0.77
Trading Signals
Description Value Chart
Yearly Trendline Support 30.24
Monthly Trendline Resistance 29.43
Yearly Trendline Resistance 27.77
Upper Bollinger Band 27.47
Price 27.13
Daily Stochastic Crossing 27.12
20 Day Moving Average 26.10
Weekly Stochastic Crossing 26.08
50 Day Moving Average 25.60
Parabolic System 25.34
Lower Bollinger Band 24.84
Monthly Trendline Support 21.87
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 25.00
Low Date 01/28/2019
High 27.19
High Date 02/01/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 22.89
Low Date 12/26/2018
High 27.19
High Date 02/01/2019
Description Value
Direction Down
Chart Pattern Broadening Right-Angled, Descending Wedge
Status Valid
Resistance 29.43
Support 21.87
High 29.61
High Date 05/22/2018
Low 22.89
Low Date 12/26/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 30.60
High Date 01/05/2018
Low 22.89
Low Date 12/26/2018
Description Value
Direction Up
Chart Pattern Rising Pennant
Status Broken Support
Resistance 27.77
Support 30.24
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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