The Greedy Trader Weekly Analysis
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Yearly Price vs. Trendline:Broken Support
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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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- 7/5/2024 -
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Citizens Financial Group (CFG) Technical Analysis

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Summary:
Weekly :Broken trend support lineWilliams' Percentage Range is overboughtBroken trend resistance line
Daily :Williams' Percentage Range is overboughtPrice is close to the 50 Day Moving AverageThe price is close to the moving average in the center of the Bollinger Bands
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It was the negative week for the Citizens Financial Group (CFG). During the week, the CFG dropped -0.79 points, or -2.19%, and closed at 35.24 on Friday, July 5, 2024. Weekly volume was -20% below average.

Long-term trend: [See CFG long-term trend chart]
A long-term downtrend had started on January 18, 2022 at 57.00 and reached 22.77 on October 27, 2023. CFG lost 34.23 points, or 60.05%, in 92 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (16.56) 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. CFG 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 CFG medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 22.77 and reached 37.30 on May 20, 2024. CFG gained -14.53 points, or -63.81%, in 29 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (40.27) 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 medium-term trend.

Weekly Technical Indicators: [See CFG 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.

The weekly MACD line is below its signal line since May 31, 2024. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.

Short-term trend: [See CFG short-term trend chart]
A short-term uptrend had started on June 10, 2024 at 32.82 and reached 36.56 on July 3, 2024. CFG gained -3.74 points, or -11.40%, in 23 days. The price is now at the 35.29% retracement level.

Daily Technical Indicators: [See CFG daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range.

The daily MACD line is above its signal line since June 17, 2024. This is an indication that the short-term trend is up.

The price is close to 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.

Price is close to the 50 Day Moving Average. While daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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) 56.28
Williams' Percentage Range (W%R) 15.50
Overbought
Lane's Stochastic (%D-Slow) 77.72
Greed/Fear Indicator (GFI) 72.83
Moving Average Converg./Diverg. (MACD) 0.09
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 45.96
Williams' Percentage Range (W%R) 18.70
Overbought
Lane's Stochastic (%D-Slow) 50.46
Greed/Fear Indicator (GFI) 60.74
Moving Average Converg./Diverg. (MACD) 1.25
Trading Signals
Description Value Chart
Quarterly Trendline Support 40.27
Quarterly Trendline Resistance 38.04
Upper Bollinger Band 36.59
Daily Stochastic Crossing 35.91
Price 35.24
50 Day Moving Average 35.23
Weekly Stochastic Crossing 35.12
20 Day Moving Average 34.92
Parabolic System 34.70
Lower Bollinger Band 33.81
Yearly Trendline Resistance 33.29
Sector and Industry
Description Name Rank
Sector Financials 7
Industry Regional Banks 74
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 36.56
High Date 07/03/2024
Low 35.15
Low Date 07/05/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 32.82
Low Date 06/10/2024
High 36.56
High Date 07/03/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 37.30
High Date 05/20/2024
Low 32.82
Low Date 06/10/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 38.04
Support 40.27
Low 22.77
Low Date 10/27/2023
High 37.30
High Date 05/20/2024
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 33.29
Support 16.56
High 57.00
High Date 01/18/2022
Low 22.77
Low Date 10/27/2023
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.