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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Perrigo Co (PRGO) Technical Analysis

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Summary:
Weekly :Trend resistance at 30.97
Daily :Lane's Stochastic is overboughtThe period of high volatility of the stock price
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It was a second consecutive positive week for the Perrigo Co (PRGO). During the week, the PRGO climbed 0.12 points, or 0.40%, and closed at 30.37 on Friday, March 15, 2024. Weekly volume was 75% above average.

Long-term trend: [See PRGO long-term trend chart]
A long-term downtrend had started on February 25, 2020 at 63.86 and reached 25.77 on February 29, 2024. PRGO lost 38.09 points, or 59.65%, in 209 weeks. The chart has formed a Falling Wedge chart pattern. The price is near the trend resistance line (30.97). The resistance is usually stronger when technical indicators are overbought. 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 resistance line in a long-term trend.

Medium-term trend: [See PRGO medium-term trend chart]
A medium-term downtrend had started on January 9, 2024 at 34.60 and reached 25.77 on February 29, 2024. PRGO lost 8.83 points, or 25.52%, in 7 weeks. The price is now at the 52.10% retracement level.

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

The weekly MACD line is below its signal line since February 23, 2024. 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 PRGO short-term trend chart]
A short-term uptrend had started on February 29, 2024 at 25.77 and reached 31.46 on March 13, 2024. PRGO gained -5.69 points, or -22.08%, in 13 days. The price is now at the 19.16% retracement level.

Daily Technical Indicators: [See PRGO daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily 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 link to access Lane's Stochastic help.

The daily MACD line is above its signal line since March 7, 2024. This is an indication that the short-term trend is up.

The distance between the Bollinger Bands is 126.61% 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 42.24
Williams' Percentage Range (W%R) 27.00
Lane's Stochastic (%D-Slow) 88.61
Overbought
Greed/Fear Indicator (GFI) 67.94
Moving Average Converg./Diverg. (MACD) -0.65
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 51.99
Williams' Percentage Range (W%R) 44.40
Lane's Stochastic (%D-Slow) 42.09
Greed/Fear Indicator (GFI) 49.95
Moving Average Converg./Diverg. (MACD) -0.60
Trading Signals
Description Value Chart
Upper Bollinger Band 34.53
50 Day Moving Average 31.54
Quarterly Trendline Resistance 30.97
Daily Stochastic Crossing 30.90
Price 30.37
20 Day Moving Average 29.68
Weekly Stochastic Crossing 28.90
Parabolic System 28.30
Lower Bollinger Band 25.59
Sector and Industry
Description Name Rank
Sector Health Care 6
Industry Pharmaceuticals 47
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 25.77
Low Date 02/29/2024
High 31.46
High Date 03/13/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 34.60
High Date 01/09/2024
Low 25.77
Low Date 02/29/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 43.90
High Date 08/09/2022
Low 25.77
Low Date 02/29/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Test Resistance
Resistance 30.97
Support 20.78
High 63.86
High Date 02/25/2020
Low 25.77
Low Date 02/29/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 215.73
High Date 04/08/2015
Low 25.77
Low Date 02/29/2024
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.