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

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- 3/15/2024 -
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MarketAxess (MKTX) Technical Analysis

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range and Lane's Stochastic are oversold
Daily :The period of low volatility of the stock price
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It was a first positive week for the MarketAxess (MKTX). During the week, the MKTX gained 3.33 points, or 1.55%, and closed at 218.45 on Friday, March 15, 2024. It was the best weekly gain since January 26, 2024. Weekly volume was 48% above average.

MKTX is a member of Financials Sector. Financials 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 MKTX long-term trend chart]
A long-term downtrend had started on April 4, 2023 at 399.78 and reached 200.01 on September 28, 2023. MKTX lost 199.77 points, or 49.97%, in 25 weeks. The price is now at the 9.23% retracement level.

Medium-term trend: [See MKTX medium-term trend chart]
A medium-term downtrend had started on December 28, 2023 at 297.35 and reached 200.37 on March 5, 2024. MKTX lost 96.98 points, or 32.61%, in 9 weeks. The price is now at the 18.64% retracement level.

Weekly Technical Indicators: [See MKTX weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range and Lane's Stochastic. 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 and Williams' Percentage Range help.

The weekly MACD line is below its signal line since February 9, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.

Short-term trend: [See MKTX short-term trend chart]
A short-term uptrend had started on March 5, 2024 at 200.37 and reached 227.31 on March 12, 2024. MKTX gained -26.94 points, or -13.45%, in 7 days. The price is now at the 32.89% retracement level.

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

The daily MACD line is above its signal line since February 23, 2024. This is an indication that the short-term trend is up.

The distance between the Bollinger Bands is falling, and it was 7.91% on Friday. It is 57.33% lower than one year average. It indicates the period of low volatility of the stock price. 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) 54.96
Williams' Percentage Range (W%R) 43.70
Lane's Stochastic (%D-Slow) 78.52
Greed/Fear Indicator (GFI) 63.27
Moving Average Converg./Diverg. (MACD) -6.43
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 34.54
Williams' Percentage Range (W%R) 84.40
Oversold
Lane's Stochastic (%D-Slow) 10.64
Oversold
Greed/Fear Indicator (GFI) 20.75
Moving Average Converg./Diverg. (MACD) -5.47
Trading Signals
Description Value Chart
50 Day Moving Average 237.48
Upper Bollinger Band 228.45
Daily Stochastic Crossing 222.32
Price 218.45
20 Day Moving Average 215.62
Lower Bollinger Band 211.19
Parabolic System 210.37
Weekly Stochastic Crossing 209.43
Sector and Industry
Description Name Rank
Sector Financials 11
Industry Financial Exchanges & Data 32
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 227.31
High Date 03/12/2024
Low 212.30
Low Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 200.37
Low Date 03/05/2024
High 227.31
High Date 03/12/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 297.35
High Date 12/28/2023
Low 200.37
Low Date 03/05/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 399.78
High Date 04/04/2023
Low 200.01
Low Date 09/28/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 546.16
High Date 04/13/2021
Low 200.01
Low Date 09/28/2023
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.