The Greedy Trader Weekly Analysis
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Uptrend Exhaustion

Uptrend Exhaustion 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 Exhaustion alert indicates that long term uptrend is exhausted and probability of long term trend reversal is high. Uptrend exhaustion stock market alert presents relatively low to medium risk - high reword stock pick for overvalued stocks.

The strategy is based on selling (or taking a short) position on anticipation of uptrend reversal.

Uptrend Exhaustion

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- 3/15/2024 -
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Grainger (W.W.) Inc. (GWW) Technical Analysis

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Summary:
Weekly :Overbought sectorRelative Strength Index and Lane's Stochastic are overboughtWilliams' Percentage Range is strongly overboughtBroken trend resistance lineBroken trend resistance line
Daily :Bullish Meeting Lines CandlestickPrice is near the Fibonacci 38.2% retracement level
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It was a first positive week for the Grainger (W.W.) Inc. (GWW). During the week, the GWW gained 24.05 points, or 2.48%, and closed at 994.37 on Friday, March 15, 2024. Weekly volume was -20% below average.

GWW is a member of Industrials Sector. Industrials 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 GWW long-term trend chart]
A long-term uptrend had started on August 28, 2017 at 155.00 and reached 1016.89 on March 14, 2024. GWW gained -861.89 points, or -556.06%, in 341 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (325.87) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See GWW medium-term trend chart]
A medium-term uptrend had started on March 23, 2020 at 200.61 and reached 1016.89 on March 14, 2024. GWW gained -816.28 points, or -406.90%, in 207 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (764.52) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See GWW weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Lane's Stochastic or strongly overbought weekly 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 3, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.

Short-term trend: [See GWW short-term trend chart]
A short-term uptrend had started on March 11, 2024 at 954.67 and reached 1016.89 on March 14, 2024. GWW gained -62.22 points, or -6.52%, in 3 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See GWW daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since March 5, 2024. The distance between MACD and the signal line is low, but getting bigger.

Candlestick pattern: [See GWW 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) 66.47
Williams' Percentage Range (W%R) 36.20
Lane's Stochastic (%D-Slow) 45.93
Greed/Fear Indicator (GFI) 58.74
Moving Average Converg./Diverg. (MACD) 19.01
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 81.21
Overbought
Williams' Percentage Range (W%R) 9.50
Strong Overbought
Lane's Stochastic (%D-Slow) 87.43
Overbought
Greed/Fear Indicator (GFI) 81.26
Overbought
Moving Average Converg./Diverg. (MACD) 53.03
Trading Signals
Description Value Chart
Monthly Trendline Resistance 1025.14
Upper Bollinger Band 1001.87
Weekly Stochastic Crossing 999.72
Price 994.37
Daily Stochastic Crossing 987.12
20 Day Moving Average 970.19
Monthly Trendline Support 964.10
Parabolic System 954.98
Lower Bollinger Band 933.24
50 Day Moving Average 922.22
Quarterly Trendline Resistance 901.68
Sector and Industry
Description Name Rank
Sector Industrials 12
Industry Industrial Machinery 105
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 954.67
Low Date 03/11/2024
High 1016.89
High Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 954.67
Low Date 03/11/2024
High 1016.89
High Date 03/14/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 1025.14
Support 964.10
Low 674.41
Low Date 10/25/2023
High 1016.89
High Date 03/14/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 901.68
Support 764.52
Low 200.61
Low Date 03/23/2020
High 1016.89
High Date 03/14/2024
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 269.93
Support 325.87
Low 155.00
Low Date 08/28/2017
High 1016.89
High Date 03/14/2024
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.