The Greedy Trader Weekly Analysis
Sign In May 22, 2020
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Uptrend Support
Uptrend Support 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. Stock market alert is a warning signal. Uptrend Support stock alert indicates that price is near long-term support trendline and probability of short-term trend reversal is high. The strategy here is to take advantage of established uptrend price pullback and entering the long position just prior to the continuation of the trend. The strategy has relatively low risk.
Technical analysis of stock trend chart following long term trend analysis and trend following indicator for uptrend support trend trading. Technical analysis of stock trend and uptrend support trend trading.
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FirstEnergy Corp. (FE)

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Summary:
Weekly :
Daily :Williams' Percentage Range is oversold
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It was the negative week for the FirstEnergy Corp. (FE). During the week, the FE dropped -1.31 points, or -3.23%, and closed at 39.29 on Friday, May 15, 2020. Weekly volume was -34% below average.

Long-term trend: [See FE long-term trend chart]
A long-term uptrend had started on May 19, 2017 at 27.93 and reached 52.52 on February 18, 2020. FE gained -24.59 points, or -88.04%, in 143 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 34.20 and resistance is at 54.42. 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 FE medium-term trend chart]
A medium-term downtrend had started on February 18, 2020 at 52.52 and reached 32.00 on March 23, 2020. FE lost 20.52 points, or 39.07%, in 4 weeks. The price is now at the 35.53% retracement level.

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

The weekly MACD line is below its signal line since February 21, 2020. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.

Short-term trend: [See FE short-term trend chart]
A short-term downtrend had started on April 17, 2020 at 46.36 and reached 38.14 on May 14, 2020. FE lost 8.22 points, or 17.73%, in 27 days. The chart has formed a Falling Wedge chart pattern. The trend support level is at 38.05 and resistance is at 40.25. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a short-term trend.

Daily Technical Indicators: [See FE daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily 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.

The daily MACD line is below its signal line since April 28, 2020. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 26.35
Williams' Percentage Range (W%R) 81.40
Oversold
Lane's Stochastic (%D-Slow) 20.13
Greed/Fear Indicator (GFI) 21.70
Moving Average Converg./Diverg. (MACD) -0.51
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 36.12
Williams' Percentage Range (W%R) 63.10
Lane's Stochastic (%D-Slow) 56.78
Greed/Fear Indicator (GFI) 45.66
Moving Average Converg./Diverg. (MACD) -0.99
Trading Signals
Description Value Chart
Upper Bollinger Band 44.18
20 Day Moving Average 41.49
Parabolic System 41.43
50 Day Moving Average 40.84
Weekly Trendline Resistance 40.25
Weekly Stochastic Crossing 39.94
Price 39.29
Daily Stochastic Crossing 38.85
Weekly Trendline Support 38.05
Lower Bollinger Band 37.75
Yearly Trendline Support 34.20
Sector and Industry
Description Name Rank
Sector Utilities 7
Industry Electric Utilities 64
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 38.14
Low Date 05/14/2020
High 39.94
High Date 05/15/2020
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Valid
Resistance 40.25
Support 38.05
High 46.36
High Date 04/17/2020
Low 38.14
Low Date 05/14/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 32.00
Low Date 03/23/2020
High 46.36
High Date 04/17/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 52.52
High Date 02/18/2020
Low 32.00
Low Date 03/23/2020
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 54.42
Support 34.20
Low 27.93
Low Date 05/19/2017
High 52.52
High Date 02/18/2020
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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