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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Google Inc. (GOOGL) Technical Analysis

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Summary:
Weekly :Trend support at 140.25Trend support at 140.25
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtPrice is close to the 50 Day Moving AverageDaily  MACD line has moved above its signal lineThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week for the Google Inc. (GOOGL). During the week, the GOOGL gained 5.77 points, or 4.26%, and closed at 141.18 on Friday, March 15, 2024. Weekly volume was 15% above average.

Long-term trend: [See GOOGL long-term trend chart]
A long-term downtrend had started on February 2, 2022 at 3030.93 and reached 83.34 on November 3, 2022. GOOGL lost 2947.59 points, or 97.25%, in 39 weeks. The chart has formed a Rectangle chart pattern. The price is near the trend support (140.25) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a long-term trend.

Medium-term trend: [See GOOGL medium-term trend chart]
A medium-term uptrend had started on November 3, 2022 at 83.34 and reached 153.78 on January 29, 2024. GOOGL gained -70.44 points, or -84.52%, in 64 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend support (140.25) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.

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

The weekly MACD line is above its signal line since October 14, 2022. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See GOOGL short-term trend chart]
A short-term uptrend had started on March 5, 2024 at 130.67 and reached 143.59 on March 14, 2024. GOOGL gained -12.92 points, or -9.89%, in 9 days. The price is now at the 18.65% retracement level.

Daily Technical Indicators: [See GOOGL daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. 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 and Williams' Percentage Range help.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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.

Price is close to the 50 Day Moving Average. While daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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) 56.79
Williams' Percentage Range (W%R) 17.40
Overbought
Lane's Stochastic (%D-Slow) 87.60
Overbought
Greed/Fear Indicator (GFI) 75.65
Moving Average Converg./Diverg. (MACD) -1.60
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 54.06
Williams' Percentage Range (W%R) 33.60
Lane's Stochastic (%D-Slow) 36.43
Greed/Fear Indicator (GFI) 51.81
Moving Average Converg./Diverg. (MACD) -1.03
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 159.86
Yearly Trendline Resistance 159.80
Upper Bollinger Band 146.48
Daily Stochastic Crossing 142.16
50 Day Moving Average 142.10
Price 141.18
Quarterly Trendline Support 140.25
Yearly Trendline Support 140.25
20 Day Moving Average 138.41
Monthly Trendline Resistance 137.87
Weekly Stochastic Crossing 137.26
Parabolic System 135.90
Lower Bollinger Band 131.96
Monthly Trendline Support 128.45
Sector and Industry
Description Name Rank
Sector Communication Services 5
Industry Interactive Media & Services 52
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 130.67
Low Date 03/05/2024
High 143.59
High Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 130.67
Low Date 03/05/2024
High 143.59
High Date 03/14/2024
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 137.87
Support 128.45
High 153.78
High Date 01/29/2024
Low 130.67
Low Date 03/05/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Support
Resistance 159.86
Support 140.25
Low 83.34
Low Date 11/03/2022
High 153.78
High Date 01/29/2024
Description Value
Direction Down
Chart Pattern Rectangle
Status Test Support
Resistance 159.80
Support 140.25
High 3030.93
High Date 02/02/2022
Low 83.34
Low Date 11/03/2022
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.