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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Travelers Companies, Inc. (TRV) Technical Analysis

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Summary:
Weekly :Overbought sectorRelative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly overbought
Daily :The price has risen above the Parabolic SARThe Bollinger Bands are historically close together
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It was a first positive week for the Travelers Companies, Inc. (TRV). During the week, the TRV gained 2.48 points, or 1.14%, and closed at 220.93 on Friday, March 15, 2024. TRV was trading at average weekly trading volume.

TRV 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 TRV long-term trend chart]
A long-term uptrend had started on March 18, 2020 at 76.99 and reached 224.00 on March 14, 2024. TRV gained -147.01 points, or -190.95%, in 208 weeks. Price is near the trend high.

Medium-term trend: [See TRV medium-term trend chart]
A medium-term uptrend had started on October 24, 2023 at 157.33 and reached 224.00 on March 14, 2024. TRV gained -66.67 points, or -42.38%, in 20 weeks. The chart has formed a Ascending Triangle chart pattern. The trend support level is at 219.52 and resistance is at 224.01. An Ascending Triangle is a variation of triangle formation that has a flat resistance line and rising support line. The higher lows indicate an increasing demand and give the ascending triangle definitive bullish bias. An Ascending Triangle usually represents an accumulation stage in bullish market. An Ascending Triangle is considered to be a continuation pattern, especially in an uptrend, but it may also mark a reversal in a downtrend. Use the following link to access a Ascending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Ascending Triangle pattern in a medium-term trend.

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

The weekly MACD line is above its signal line since October 27, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See TRV short-term trend chart]
A short-term downtrend had started on March 14, 2024 at 224.00 and reached 219.47 on March 15, 2024. TRV lost 4.53 points, or 2.02%, in 1 days. The price is now at the 32.23% retracement level.

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

The daily MACD line is below its signal line since February 2, 2024. This is an indication that the short-term trend is down.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. 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.

The distance between the Bollinger Bands (2.52%) is close to one year low (3.62%). It is 68.69% 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.43
Williams' Percentage Range (W%R) 59.10
Lane's Stochastic (%D-Slow) 66.48
Greed/Fear Indicator (GFI) 53.28
Moving Average Converg./Diverg. (MACD) 2.93
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 93.30
Strong Overbought
Williams' Percentage Range (W%R) 6.80
Strong Overbought
Lane's Stochastic (%D-Slow) 92.49
Strong Overbought
Greed/Fear Indicator (GFI) 85.93
Overbought
Moving Average Converg./Diverg. (MACD) 9.99
Trading Signals
Description Value Chart
Monthly Trendline Resistance 224.01
Weekly Stochastic Crossing 222.49
Daily Stochastic Crossing 222.10
Upper Bollinger Band 221.78
Price 220.93
20 Day Moving Average 220.23
Monthly Trendline Support 219.52
Parabolic System 217.33
Lower Bollinger Band 216.23
50 Day Moving Average 212.38
Sector and Industry
Description Name Rank
Sector Financials 11
Industry Property & Casualty Insurance 121
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 224.00
High Date 03/14/2024
Low 219.47
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 224.00
High Date 03/14/2024
Low 219.47
Low Date 03/15/2024
Description Value
Direction Up
Chart Pattern Ascending Triangle
Status Valid
Resistance 224.01
Support 219.52
Low 157.33
Low Date 10/24/2023
High 224.00
High Date 03/14/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 76.99
Low Date 03/18/2020
High 224.00
High Date 03/14/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 28.91
Low Date 10/10/2008
High 224.00
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.