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.

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- 3/15/2024 -
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GREAT LKS REIT (GL) Technical Analysis

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Summary:
Weekly :Overbought sectorWeekly  MACD line has moved below its signal lineWilliams' Percentage Range is oversold
Daily :The price is below the lower Bollinger BandPrice has crossed below the 50 Day Moving AverageLane's Stochastic oversoldWilliams' Percentage Range is strongly oversoldBullish Meeting Lines CandlestickThe period of high volatility of the stock price
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It was the negative week for the GREAT LKS REIT (GL). During the week, the GL dropped -7.59 points, or -6.14%, and closed at 116.03 on Friday, March 15, 2024. Weekly volume was 154% above average.

GL is a member of Financials Sector. Financials is the most overbought 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 GL long-term trend chart]
A long-term uptrend had started on December 1, 2021 at 85.25 and reached 132.00 on February 22, 2024. GL gained -46.75 points, or -54.84%, in 116 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 112.02 and resistance is at 143.25. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.

Medium-term trend: [See GL medium-term trend chart]
A medium-term downtrend had started on February 22, 2024 at 132.00 and reached 113.83 on March 14, 2024. GL lost 18.17 points, or 13.77%, in 3 weeks. The price is now at the 12.11% retracement level.

Weekly Technical Indicators: [See GL 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.

During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.

Short-term trend: [See GL short-term trend chart]
A short-term downtrend had started on February 28, 2024 at 129.18 and reached 113.83 on March 14, 2024. GL lost 15.35 points, or 11.88%, in 15 days. The price is now at the 14.33% retracement level.

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

The daily MACD line is below its signal line since March 1, 2024. 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 has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. The distance between the Bollinger Bands is 100.62% higher then one year average. It indicates the period of high 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.

During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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.

Candlestick pattern: [See GL candlestick chart pattern]
On Friday the chart has formed a Bullish Meeting Lines Candlestick pattern. This pattern appears during a decline, and it is a sign that a potential bullish reversal is in play. The reliability of the Bullish Meeting Lines Candlestick pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bullish Meeting Lines Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 21.02
Williams' Percentage Range (W%R) 97.30
Strong Oversold
Lane's Stochastic (%D-Slow) 15.86
Oversold
Greed/Fear Indicator (GFI) 13.19
Oversold
Moving Average Converg./Diverg. (MACD) 0.00
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 38.59
Williams' Percentage Range (W%R) 80.70
Oversold
Lane's Stochastic (%D-Slow) 62.19
Greed/Fear Indicator (GFI) 41.62
Moving Average Converg./Diverg. (MACD) 3.01
Trading Signals
Description Value Chart
Upper Bollinger Band 130.65
Parabolic System 125.81
20 Day Moving Average 124.99
Weekly Stochastic Crossing 124.07
50 Day Moving Average 123.42
Daily Stochastic Crossing 116.23
Lower Bollinger Band 116.17
Price 116.03
Yearly Trendline Support 112.02
Sector and Industry
Description Name Rank
Sector Financials 11
Industry Life & Health Insurance 66
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 129.18
High Date 02/28/2024
Low 113.83
Low Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 132.00
High Date 02/22/2024
Low 113.83
Low Date 03/14/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 118.27
Low Date 02/01/2024
High 132.00
High Date 02/22/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 102.23
Low Date 05/04/2023
High 132.00
High Date 02/22/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 143.25
Support 112.02
Low 85.25
Low Date 12/01/2021
High 132.00
High Date 02/22/2024
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.