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Yearly Price vs. Trendline:Broken Resistance
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Trend Line Resistance Trend Line Support Resistance.

Trendline support resistance provides an excellent buy/sell signals in trending market. On an uptrend, buy around the support trend line level and place a stop order below the trend line support. Take profit on the trend line resistance level. Reverse the technique in a downtrend. Short around the resistance trend line level and place a stop order above the trend line resistance.

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- 3/8/2024 -
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Arthur J. Gallagher & Co. (AJG) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken uptrend resistance line - uptrend exhaustionBroken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is overboughtWeekly  MACD line has moved above its signal line
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtLane's Stochastic and MACD bearish divergenceThe price has risen above the Parabolic SARThe price is above the upper Bollinger BandBroken trend resistance line
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It was a first positive week for the Arthur J. Gallagher & Co. (AJG). During the week, the AJG gained 8.15 points, or 3.35%, and closed at 251.69 on Friday, March 8, 2024. It was the best weekly gain since January 12, 2024. Weekly volume was -25% below average.

AJG 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 AJG long-term trend chart]
A long-term uptrend had started on March 4, 2009 at 14.82 and reached 254.00 on November 27, 2023. AJG gained -239.18 points, or -1613.90%, in 768 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (78.98) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 AJG medium-term trend chart]
A medium-term uptrend had started on March 18, 2020 at 65.09 and reached 254.00 on November 27, 2023. AJG gained -188.91 points, or -290.23%, in 192 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (200.06) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 AJG weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with 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 link to access Williams' Percentage Range help.

During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help.

Short-term trend: [See AJG short-term trend chart]
A short-term downtrend had started on November 27, 2023 at 254.00 and reached 218.63 on December 21, 2023. AJG lost 35.37 points, or 13.93%, in 24 days. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (237.73) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. AJG may retest the broken resistance line. It is considered to be a support line now. 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 short-term trend.

Daily Technical Indicators: [See AJG daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. 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. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since February 2, 2024. The distance between MACD and the signal line is low, but getting bigger.

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 price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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) 75.40
Williams' Percentage Range (W%R) 14.90
Overbought
Lane's Stochastic (%D-Slow) 83.83
Overbought Bearish
Greed/Fear Indicator (GFI) 81.46
Overbought
Moving Average Converg./Diverg. (MACD) 2.85 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.67
Williams' Percentage Range (W%R) 12.90
Overbought
Lane's Stochastic (%D-Slow) 78.36
Greed/Fear Indicator (GFI) 72.66
Moving Average Converg./Diverg. (MACD) 4.67
Trading Signals
Description Value Chart
Price 251.69
Upper Bollinger Band 251.55
Daily Stochastic Crossing 251.17
Weekly Stochastic Crossing 248.17
20 Day Moving Average 242.97
Parabolic System 242.02
Weekly Trendline Support 237.73
50 Day Moving Average 236.28
Lower Bollinger Band 235.03
Monthly Trendline Resistance 230.98
Weekly Trendline Resistance 230.55
Sector and Industry
Description Name Rank
Sector Financials 11
Industry Insurance Brokers 75
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 218.63
Low Date 12/21/2023
High 252.07
High Date 03/08/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 230.55
Support 237.73
High 254.00
High Date 11/27/2023
Low 218.63
Low Date 12/21/2023
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 230.98
Support 200.06
Low 65.09
Low Date 03/18/2020
High 254.00
High Date 11/27/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 35.96
Low Date 01/20/2016
High 254.00
High Date 11/27/2023
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 90.84
Support 78.98
Low 14.82
Low Date 03/04/2009
High 254.00
High Date 11/27/2023
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.