The Greedy Trader Weekly Analysis
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Weekly RSI:> 80
Number of records: 4
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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.

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- 5/31/2024 -
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Avago Technologies (AVGO) Technical Analysis

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Summary:
Weekly :
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARPrice has crossed below the 50 Day Moving AverageThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Avago Technologies (AVGO). During the week, the AVGO dropped -79.29 points, or -5.63%, and closed at 1328.55 on Friday, May 31, 2024. Weekly volume was 27% above average.

Long-term trend: [See AVGO long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 415.07 and reached 1445.40 on May 16, 2024. AVGO gained -1030.33 points, or -248.23%, in 83 weeks. The price is now at the 11.34% retracement level.

Medium-term trend: [See AVGO medium-term trend chart]
A medium-term uptrend had started on April 19, 2024 at 1197.56 and reached 1445.40 on May 16, 2024. AVGO gained -247.84 points, or -20.70%, in 3 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 1280.53 and resistance is at 1509.38. 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 AVGO weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since April 12, 2024. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.

Short-term trend: [See AVGO short-term trend chart]
A short-term downtrend had started on May 16, 2024 at 1445.40 and reached 1307.26 on May 31, 2024. AVGO lost 138.14 points, or 9.56%, in 15 days. The price is now at the 15.41% retracement level.

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

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

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

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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.

During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 49.26
Williams' Percentage Range (W%R) 42.40
Lane's Stochastic (%D-Slow) 34.54
Greed/Fear Indicator (GFI) 47.14
Moving Average Converg./Diverg. (MACD) 23.25
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 56.38
Williams' Percentage Range (W%R) 21.90
Lane's Stochastic (%D-Slow) 64.64
Greed/Fear Indicator (GFI) 63.99
Moving Average Converg./Diverg. (MACD) 99.53
Trading Signals
Description Value Chart
Monthly Trendline Resistance 1509.38
Upper Bollinger Band 1454.00
Parabolic System 1435.04
Weekly Stochastic Crossing 1373.27
20 Day Moving Average 1365.94
Daily Stochastic Crossing 1338.94
50 Day Moving Average 1333.02
Price 1328.55
Monthly Trendline Support 1280.53
Lower Bollinger Band 1273.21
Sector and Industry
Description Name Rank
Sector Information Technology 4
Industry Semiconductors 86
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 1417.18
High Date 05/28/2024
Low 1307.26
Low Date 05/31/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 1445.40
High Date 05/16/2024
Low 1307.26
Low Date 05/31/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 1509.38
Support 1280.53
Low 1197.56
Low Date 04/19/2024
High 1445.40
High Date 05/16/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 818.34
Low Date 10/26/2023
High 1445.40
High Date 05/16/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 415.07
Low Date 10/13/2022
High 1445.40
High Date 05/16/2024
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.