The Greedy Trader Weekly Analysis
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Downtrend Resistance
Downtrend Resistance 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. Downtrend Resistance stock alert indicates that price is near long-term resistance trendline and probability of short-term trend reversal is high.

The strategy is based on selling long (or taking short) position on downtrend testing resistance. The strategy has low to medium risk and average reword.

Downtrend Resistance

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- 3/15/2024 -
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Lowe's Cos. (LOW) Technical Analysis

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Summary:
Weekly :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overbought
Daily :Williams' Percentage Range is overboughtLane's Stochastic and MACD bearish divergence
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It was a first positive week for the Lowe's Cos. (LOW). During the week, the LOW gained 2.78 points, or 1.15%, and closed at 244.73 on Friday, March 15, 2024. LOW was trading at average weekly trading volume.

Long-term trend: [See LOW long-term trend chart]
A long-term uptrend had started on June 22, 2022 at 170.12 and reached 248.55 on March 13, 2024. LOW gained -78.43 points, or -46.10%, in 90 weeks. Price is near the trend high.

Medium-term trend: [See LOW medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 181.85 and reached 248.55 on March 13, 2024. LOW gained -66.70 points, or -36.68%, in 19 weeks. The price is now at the 5.73% retracement level.

Weekly Technical Indicators: [See LOW weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 and Williams' Percentage Range help.

The weekly MACD line is above its signal line since December 8, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See LOW short-term trend chart]
A short-term uptrend had started on January 25, 2024 at 209.55 and reached 248.55 on March 13, 2024. LOW gained -39.00 points, or -18.61%, in 48 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 234.71 and resistance is at 254.51. 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 short-term trend.

Daily Technical Indicators: [See LOW daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and 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 2, 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) 73.37
Williams' Percentage Range (W%R) 16.10
Overbought
Lane's Stochastic (%D-Slow) 64.63
Bearish
Greed/Fear Indicator (GFI) 73.96
Moving Average Converg./Diverg. (MACD) 5.61 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 71.81
Williams' Percentage Range (W%R) 6.50
Strong Overbought
Lane's Stochastic (%D-Slow) 89.29
Overbought
Greed/Fear Indicator (GFI) 80.43
Overbought
Moving Average Converg./Diverg. (MACD) 3.48
Trading Signals
Description Value Chart
Weekly Trendline Resistance 254.51
Upper Bollinger Band 251.04
Daily Stochastic Crossing 245.60
Weekly Stochastic Crossing 244.79
Price 244.73
Parabolic System 239.07
20 Day Moving Average 238.14
Weekly Trendline Support 234.71
50 Day Moving Average 226.31
Lower Bollinger Band 224.93
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 7
Industry Home Improvement Retail 112
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 245.29
Low Date 03/04/2024
High 248.55
High Date 03/13/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 254.51
Support 234.71
Low 209.55
Low Date 01/25/2024
High 248.55
High Date 03/13/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 181.85
Low Date 10/27/2023
High 248.55
High Date 03/13/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 170.12
Low Date 06/22/2022
High 248.55
High Date 03/13/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 13.00
Low Date 03/09/2009
High 263.31
High Date 12/13/2021
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.