The Greedy Trader Weekly Analysis
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Daily RSI:> 70
Number of records: 10
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Relative Strength Index (RSI Indicator)
The Relative Strength Index is a popular momentum oscillator, developed by Welles Wilder, Jr. It is one of the most widely used technical indicators. Relative Strength Index compares upward vs. downward movements in closing over a selected period. The RSI Indicator fluctuates from 0% to 100%. A stock with RSI Indicator higher than 70% is considered overbought and lower than 30% - oversold. A good rule is to adjust overbought/oversold index range to 80% in bull and to 20% in bear markets. Relative Strength Index can provide an early warning, but not the final signal. It should be used in conjunction with other stock picking techniques. The divergence between RSI Indicator and underlying stock price is the most important signal provided by RSI, and it can be an indication of an impending reversal. Using the RSI divergence (bullish and bearish), chart patterns, trendlines, support, and resistance lines along with the RSI Indicator chart can be very useful.
Relative strength index- rsi indicator and overbought oversold index.
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RSI divergence - Bullish Bearish.
rsi divergence,Bullish,Bearish,bullish stocks,Bullish Divergence,Bearish Divergence,stock market

Adobe Systems (ADBE)

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Summary:
Weekly :Broken trend resistance line
Daily :The price is above the upper Bollinger BandThe period of low volatility of the stock price
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It was a second positive week after 3 consecutive negative weeks for the Adobe Systems (ADBE). During the week, the ADBE gained 12.00 points, or 3.48%, and closed at 356.38 on Friday, January 20, 2023. It was the best weekly gain since November 11, 2022. Weekly volume was -26% below average.

Long-term trend: [See ADBE long-term trend chart]
A long-term downtrend had started on November 22, 2021 at 699.54 and reached 274.73 on September 27, 2022. ADBE lost 424.81 points, or 60.73%, in 44 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (193.50) 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 long-term trend.

Medium-term trend: [See ADBE medium-term trend chart]
A medium-term uptrend had started on September 27, 2022 at 274.73 and reached 357.42 on January 20, 2023. ADBE gained -82.69 points, or -30.10%, in 16 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 284.65 and resistance is at 423.20. 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 medium-term trend.

Weekly Technical Indicators: [See ADBE weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since November 11, 2022. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See ADBE short-term trend chart]
A short-term uptrend had started on January 18, 2023 at 338.40 and reached 357.42 on January 20, 2023. ADBE gained -19.02 points, or -5.62%, in 2 days. The price is now at the 5.47% retracement level.

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

The daily MACD line is above its signal line since January 10, 2023. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. The distance between the Bollinger Bands is falling, and it was 6.81% on Friday. It is 64.41% 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) 65.70
Williams' Percentage Range (W%R) 40.40
Lane's Stochastic (%D-Slow) 78.33
Greed/Fear Indicator (GFI) 67.86
Moving Average Converg./Diverg. (MACD) 2.83
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.92
Williams' Percentage Range (W%R) 43.70
Lane's Stochastic (%D-Slow) 75.08
Greed/Fear Indicator (GFI) 62.31
Moving Average Converg./Diverg. (MACD) -23.41
Trading Signals
Description Value Chart
Monthly Trendline Resistance 423.20
Price 356.38
Upper Bollinger Band 352.58
Daily Stochastic Crossing 352.06
Weekly Stochastic Crossing 348.31
20 Day Moving Average 339.53
50 Day Moving Average 335.50
Parabolic System 331.03
Lower Bollinger Band 328.30
Quarterly Trendline Resistance 302.39
Sector and Industry
Description Name Rank
Sector Information Technology 4
Industry Application Software 51
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 338.40
Low Date 01/18/2023
High 357.42
High Date 01/20/2023
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 320.20
Low Date 11/22/2022
High 357.42
High Date 01/20/2023
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 423.20
Support 284.65
Low 274.73
Low Date 09/27/2022
High 357.42
High Date 01/20/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 302.39
Support 193.50
High 699.54
High Date 11/22/2021
Low 274.73
Low Date 09/27/2022
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 15.70
Low Date 02/27/2009
High 699.54
High Date 11/22/2021
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.

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