The Greedy Trader Weekly Analysis
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Uptrend Broken Support

Uptrend Broken 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 Broken Support alert is a confirmation that long term uptrend reversal is completed and a new downtrend 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 support trendline. This point is considered as a second chance to sell long position (or open short positions) in uptrend reversal.

Uptrend Broken Support

Archive
- 3/15/2024 -
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CurrencyShares Canadian Dollar Trust (FXC) Technical Analysis

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Summary:
Weekly :Broken trend resistance line
Daily :A Parabolic SAR indicator is above and near the priceThe price has declined below the moving average in the center of the Bollinger BandsThe Bollinger Bands are historically close togetherPrice is close to the 50 Day Moving Average
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It was the negative week for the CurrencyShares Canadian Dollar Trust (FXC). During the week, the FXC gave back -0.21 points, or -0.29%, and closed at 72.24 on Friday, March 15, 2024. Weekly volume was -63% below average.

Long-term trend: [See FXC long-term trend chart]
A long-term downtrend had started on July 13, 2023 at 74.64 and reached 70.35 on November 1, 2023. FXC lost 4.29 points, or 5.75%, in 15 weeks. The price is now at the 44.06% retracement level.

Medium-term trend: [See FXC medium-term trend chart]
A medium-term downtrend had started on December 27, 2023 at 74.28 and reached 71.89 on March 5, 2024. FXC lost 2.39 points, or 3.22%, in 9 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (71.79) is broken. A broken support is considered to be a long-term bullish signal. 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 FXC 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 FXC short-term trend chart]
A short-term uptrend had started on March 5, 2024 at 71.89 and reached 72.66 on March 7, 2024. FXC gained -0.77 points, or -1.07%, in 2 days. The price is now at the 54.55% retracement level.

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

The daily MACD line is above its signal line since March 6, 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.

A Parabolic SAR (stop and reversal) indicator (71.99) comes close to the price (72.24). It indicates that the trend is getting weaker. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (1.16%) is close to one year low (1.11%). It is 53.27% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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.

Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 44.95
Williams' Percentage Range (W%R) 39.00
Lane's Stochastic (%D-Slow) 72.21
Greed/Fear Indicator (GFI) 59.40
Moving Average Converg./Diverg. (MACD) -0.06
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.20
Williams' Percentage Range (W%R) 48.80
Lane's Stochastic (%D-Slow) 24.01
Greed/Fear Indicator (GFI) 40.54
Moving Average Converg./Diverg. (MACD) 0.02
Trading Signals
Description Value Chart
Upper Bollinger Band 72.81
50 Day Moving Average 72.55
Daily Stochastic Crossing 72.48
20 Day Moving Average 72.35
Price 72.24
Weekly Stochastic Crossing 72.23
Parabolic System 71.99
Lower Bollinger Band 71.97
Weekly Trendline Support 71.79
Weekly Trendline Resistance 71.75
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 71.89
Low Date 03/05/2024
High 72.66
High Date 03/07/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 71.75
Support 71.79
High 74.28
High Date 12/27/2023
Low 71.89
Low Date 03/05/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 70.35
Low Date 11/01/2023
High 74.28
High Date 12/27/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 74.64
High Date 07/13/2023
Low 70.35
Low Date 11/01/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 81.77
High Date 06/01/2021
Low 70.03
Low Date 10/13/2022
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.