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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SBA Communications (SBAC) Technical Analysis

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Summary:
Weekly :Stochastic signal line moved above oversold area
Daily :Stochastic has declined below the signal lineThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the SBA Communications (SBAC). During the week, the SBAC dropped -8.22 points, or -3.67%, and closed at 215.48 on Friday, March 15, 2024. Weekly volume was 16% above average.

Long-term trend: [See SBAC long-term trend chart]
A long-term downtrend had started on December 31, 2021 at 391.15 and reached 185.63 on October 6, 2023. SBAC lost 205.52 points, or 52.54%, in 92 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 151.32 and resistance is at 242.45. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a long-term trend.

Medium-term trend: [See SBAC medium-term trend chart]
A medium-term uptrend had started on October 6, 2023 at 185.63 and reached 258.76 on December 14, 2023. SBAC gained -73.13 points, or -39.40%, in 9 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 198.41 and resistance is at 344.47. 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 medium-term trend.

Weekly Technical Indicators: [See SBAC weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish 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 link to access Lane's Stochastic help.

The weekly MACD line is below its signal line since February 2, 2024. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.

Short-term trend: [See SBAC short-term trend chart]
A short-term uptrend had started on February 27, 2024 at 196.91 and reached 225.34 on March 11, 2024. SBAC gained -28.43 points, or -14.44%, in 13 days. The price is now at the 34.68% retracement level.

Daily Technical Indicators: [See SBAC daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal.

The daily MACD line is above its signal line since February 28, 2024. This is an indication that the short-term trend is up.

During the last week, the price has declined below 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 59.21
Williams' Percentage Range (W%R) 36.80
Lane's Stochastic (%D-Slow) 63.37
Greed/Fear Indicator (GFI) 61.93
Moving Average Converg./Diverg. (MACD) -1.65
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 34.21
Williams' Percentage Range (W%R) 62.90
Lane's Stochastic (%D-Slow) 20.99
Greed/Fear Indicator (GFI) 32.93
Moving Average Converg./Diverg. (MACD) -1.86
Trading Signals
Description Value Chart
Yearly Trendline Resistance 242.45
Upper Bollinger Band 229.08
50 Day Moving Average 222.46
Daily Stochastic Crossing 219.60
Price 215.48
20 Day Moving Average 212.94
Parabolic System 210.21
Weekly Stochastic Crossing 207.05
Lower Bollinger Band 203.70
Quarterly Trendline Support 198.41
Sector and Industry
Description Name Rank
Sector Real Estate 3
Industry Specialized REITs 33
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 225.34
High Date 03/11/2024
Low 212.38
Low Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 196.91
Low Date 02/27/2024
High 225.34
High Date 03/11/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 258.76
High Date 12/14/2023
Low 196.91
Low Date 02/27/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 344.47
Support 198.41
Low 185.63
Low Date 10/06/2023
High 258.76
High Date 12/14/2023
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 242.45
Support 151.32
High 391.15
High Date 12/31/2021
Low 185.63
Low Date 10/06/2023
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.