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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Textron Inc. (TXT) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken uptrend resistance line - uptrend exhaustionRelative Strength Index and Lane's Stochastic are overboughtWilliams' Percentage Range is strongly overbought
Daily :Relative Strength Index and Williams' Percentage Range are overboughtStochastic signal line moved below overbought areaMACD bearish divergence
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It was a fourth consecutive positive week for the Textron Inc. (TXT). During the week, the TXT climbed 0.78 points, or 0.85%, and closed at 92.91 on Friday, March 15, 2024. Weekly volume was -16% below average.

TXT 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 TXT long-term trend chart]
A long-term uptrend had started on May 31, 2023 at 61.27 and reached 93.45 on March 8, 2024. TXT gained -32.18 points, or -52.52%, in 40 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (81.24) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 TXT medium-term trend chart]
A medium-term uptrend had started on November 29, 2023 at 74.13 and reached 93.45 on March 8, 2024. TXT gained -19.32 points, or -26.06%, in 14 weeks. Price is near the trend high.

Weekly Technical Indicators: [See TXT 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 January 19, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See TXT short-term trend chart]
A short-term uptrend had started on January 17, 2024 at 76.98 and reached 93.45 on March 8, 2024. TXT gained -16.47 points, or -21.40%, in 51 days. Price is near the trend high.

Daily Technical Indicators: [See TXT daily technical indicators chart]
Daily Relative Strength Index and Williams' Percentage Range are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Daily MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 85.63
Overbought
Williams' Percentage Range (W%R) 19.10
Overbought
Lane's Stochastic (%D-Slow) 76.75
Greed/Fear Indicator (GFI) 81.07
Overbought
Moving Average Converg./Diverg. (MACD) 1.84 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 84.18
Overbought
Williams' Percentage Range (W%R) 9.40
Strong Overbought
Lane's Stochastic (%D-Slow) 87.83
Overbought
Greed/Fear Indicator (GFI) 81.45
Overbought
Moving Average Converg./Diverg. (MACD) 3.01
Trading Signals
Description Value Chart
Upper Bollinger Band 94.79
Price 92.91
Daily Stochastic Crossing 92.53
Weekly Stochastic Crossing 91.63
Parabolic System 91.55
20 Day Moving Average 88.98
50 Day Moving Average 85.29
Lower Bollinger Band 84.20
Monthly Trendline Resistance 82.51
Monthly Trendline Support 81.24
Sector and Industry
Description Name Rank
Sector Industrials 12
Industry Aerospace & Defense 55
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 76.98
Low Date 01/17/2024
High 93.45
High Date 03/08/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 74.13
Low Date 11/29/2023
High 93.45
High Date 03/08/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 82.51
Support 81.24
Low 61.27
Low Date 05/31/2023
High 93.45
High Date 03/08/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 57.11
Low Date 06/17/2022
High 93.45
High Date 03/08/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 20.26
Low Date 03/23/2020
High 93.45
High Date 03/08/2024
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.