The Greedy Trader Weekly Analysis
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Weekly Pattern:Falling Channel
Number of records: 8
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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.
channeling stock,stock channeling,rising channel,falling channel,Price Channel

BlackRock (BLK)
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Summary:
Weekly :Broken trend support line
Daily :
Move cursor over the icon to see details.

It was a third positive week after 3 consecutive negative weeks for the BlackRock (BLK). During the week, the BLK climbed 5.60 points, or 0.84%, and closed at 672.30 on Friday, May 26, 2023. Weekly volume was -22% below average.

Long-term trend: [See BLK long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 503.12 and reached 785.53 on November 11, 2022. BLK gained -282.41 points, or -56.13%, in 4 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (677.32) is broken. A broken support is considered to be a long-term bearish 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 support in a long-term trend.

Medium-term trend: [See BLK medium-term trend chart]
A medium-term downtrend had started on November 11, 2022 at 785.53 and reached 620.00 on March 15, 2023. BLK lost 165.53 points, or 21.07%, in 17 weeks. The price is now at the 31.60% retracement level.

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

The weekly MACD line is below its signal line since February 24, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See BLK short-term trend chart]
A short-term uptrend had started on May 10, 2023 at 624.50 and reached 676.53 on May 19, 2023. BLK gained -52.03 points, or -8.33%, in 9 days. The chart has formed a Broadening Ascending Wedge chart pattern.

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

The daily MACD line is above its signal line since May 17, 2023. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.39
Williams' Percentage Range (W%R) 22.40
Lane's Stochastic (%D-Slow) 72.60
Greed/Fear Indicator (GFI) 70.87
Moving Average Converg./Diverg. (MACD) -2.15
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 41.60
Williams' Percentage Range (W%R) 72.30
Lane's Stochastic (%D-Slow) 38.55
Greed/Fear Indicator (GFI) 38.30
Moving Average Converg./Diverg. (MACD) -5.83
Trading Signals
Description Value Chart
Upper Bollinger Band 684.14
Quarterly Trendline Resistance 680.49
Quarterly Trendline Support 677.32
Price 672.30
Daily Stochastic Crossing 664.45
50 Day Moving Average 659.24
Weekly Stochastic Crossing 652.91
20 Day Moving Average 650.70
Parabolic System 645.13
Lower Bollinger Band 631.03
Sector and Industry
Description Name Rank
Sector Financials 4
Industry Asset Management & Custody Banks 21
Daily Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Low 624.50
Low Date 05/10/2023
High 676.53
High Date 05/19/2023
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 704.01
High Date 04/14/2023
Low 624.50
Low Date 05/10/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 785.53
High Date 11/11/2022
Low 620.00
Low Date 03/15/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 680.49
Support 677.32
Low 503.12
Low Date 10/13/2022
High 785.53
High Date 11/11/2022
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 973.03
High Date 11/12/2021
Low 503.12
Low Date 10/13/2022
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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