The Greedy Trader Weekly Analysis
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Weekly Pattern:Falling Channel
Number of records: 5
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Channeling Stock - rising channel and falling channel.

Stock channeling technique is one of the most efficient and widely used trading technique. Price channel represents price movement bound by parallel lower (support) and upper (resistance) trend lines. Channels with rising trend lines (rising channel) are considered bullish and the falling channel is considered as bearish . Channels are continuation formations as far as support and resistance are not broken.
Trading technique:
# 1
Buy channeling stock on support and sell on resistance.
# 2 For bullish channel: sell channeling stock when price breakes the stock channeling support line. For bearish channel: buy channeling stock when price breaks the resistance line.
Tips:
# 1 For the best results, stock channeling should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance line.

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- 5/17/2024 -
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American Water Works Company Inc (AWK) Technical Analysis

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is strongly overboughtBroken trend resistance lineBroken trend resistance line
Daily :Relative Strength Index is overboughtWilliams' Percentage Range is strongly overboughtStochastic has declined below the signal lineA Parabolic SAR indicator is above and near the priceThe period of high volatility of the stock price
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It was the negative week for the American Water Works Company Inc (AWK). During the week, the AWK dropped -1.74 points, or -1.28%, and closed at 133.76 on Friday, May 17, 2024. Weekly volume was -13% below average.

AWK is a member of Utilities Sector. Utilities 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 AWK long-term trend chart]
A long-term downtrend had started on December 31, 2021 at 189.65 and reached 113.34 on April 16, 2024. AWK lost 76.31 points, or 40.24%, in 119 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (107.78) 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. AWK 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 long-term trend.

Medium-term trend: [See AWK medium-term trend chart]
A medium-term downtrend had started on December 14, 2023 at 137.43 and reached 113.34 on April 16, 2024. AWK lost 24.09 points, or 17.53%, in 17 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (109.84) 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. AWK 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 medium-term trend.

Weekly Technical Indicators: [See AWK weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought 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.

The weekly MACD line is above its signal line since April 19, 2024. The distance between MACD and the signal line is relatively high and getting bigger. Use the following link to access a MACD help.

Short-term trend: [See AWK short-term trend chart]
A short-term uptrend had started on April 16, 2024 at 113.34 and reached 135.71 on May 10, 2024. AWK gained -22.37 points, or -19.74%, in 24 days. The price is now at the 8.72% retracement level.

Daily Technical Indicators: [See AWK daily technical indicators chart]
Daily Relative Strength Index is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index or strongly overbought daily Williams' Percentage Range. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Use the following links to access Lane's Stochastic and Relative Strength Index help.

The daily MACD line is above its signal line since April 19, 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.

A Parabolic SAR (stop and reversal) indicator (133.01) comes close to the price (133.76). It indicates that the trend is getting weaker. 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 is 102.10% higher then one year average. It indicates the period of high 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) 83.29
Overbought
Williams' Percentage Range (W%R) 8.70
Strong Overbought
Lane's Stochastic (%D-Slow) 77.90
Greed/Fear Indicator (GFI) 84.16
Overbought
Moving Average Converg./Diverg. (MACD) 3.45
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 64.78
Williams' Percentage Range (W%R) 7.00
Strong Overbought
Lane's Stochastic (%D-Slow) 77.19
Greed/Fear Indicator (GFI) 76.64
Moving Average Converg./Diverg. (MACD) -3.09
Trading Signals
Description Value Chart
Upper Bollinger Band 140.39
Daily Stochastic Crossing 134.62
Price 133.76
Weekly Stochastic Crossing 133.63
Parabolic System 133.01
20 Day Moving Average 128.04
Yearly Trendline Resistance 125.83
50 Day Moving Average 122.32
Lower Bollinger Band 117.34
Monthly Trendline Resistance 115.45
Monthly Trendline Support 109.84
Yearly Trendline Support 107.78
Sector and Industry
Description Name Rank
Sector Utilities 12
Industry Water Utilities 115
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 132.86
Low Date 05/14/2024
High 135.11
High Date 05/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 113.34
Low Date 04/16/2024
High 135.71
High Date 05/10/2024
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 115.45
Support 109.84
High 137.43
High Date 12/14/2023
Low 113.34
Low Date 04/16/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 162.59
High Date 02/02/2023
Low 113.34
Low Date 04/16/2024
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 125.83
Support 107.78
High 189.65
High Date 12/31/2021
Low 113.34
Low Date 04/16/2024
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.