The Greedy Trader Weekly Analysis
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Daily Price vs. Fibonacci:Near 38.2% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 4/26/2024 -
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Comerica Inc. (CMA) Technical Analysis

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Summary:
Weekly :Overbought sector
Daily :Lane's Stochastic is overboughtDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price moved above the moving average in the center of the Bollinger Bands
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It was a second consecutive positive week for the Comerica Inc. (CMA). During the week, the CMA climbed 0.51 points, or 0.99%, and closed at 52.07 on Friday, April 26, 2024. Weekly volume was -35% below average.

CMA 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 CMA long-term trend chart]
A long-term uptrend had started on May 4, 2023 at 28.40 and reached 57.39 on December 14, 2023. CMA gained -28.99 points, or -102.08%, in 32 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 47.16 and resistance is at 58.78. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a long-term trend.

Medium-term trend: [See CMA medium-term trend chart]
A medium-term uptrend had started on March 1, 2024 at 47.63 and reached 55.25 on April 1, 2024. CMA gained -7.62 points, or -16.00%, in 4 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 49.73 and resistance is at 57.09. 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 CMA 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 and getting smaller. Use the following link to access a MACD help.

Short-term trend: [See CMA short-term trend chart]
A short-term downtrend had started on April 1, 2024 at 55.25 and reached 49.27 on April 17, 2024. CMA lost 5.98 points, or 10.82%, in 16 days. The chart has formed a Broadening Descending Wedge chart pattern.

Daily Technical Indicators: [See CMA daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic. 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 Lane's Stochastic help.

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

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.

During the last week, the price has moved above 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 40.10
Williams' Percentage Range (W%R) 51.20
Lane's Stochastic (%D-Slow) 81.85
Overbought
Greed/Fear Indicator (GFI) 56.93
Moving Average Converg./Diverg. (MACD) 0.01
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.90
Williams' Percentage Range (W%R) 49.10
Lane's Stochastic (%D-Slow) 60.34
Greed/Fear Indicator (GFI) 53.56
Moving Average Converg./Diverg. (MACD) 1.13
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 58.78
Weekly Trendline Resistance 57.09
Upper Bollinger Band 54.62
Daily Stochastic Crossing 52.45
20 Day Moving Average 52.25
Weekly Stochastic Crossing 52.17
Price 52.07
50 Day Moving Average 51.47
Parabolic System 49.83
Weekly Trendline Support 49.73
Lower Bollinger Band 49.36
Quarterly Trendline Support 47.16
Sector and Industry
Description Name Rank
Sector Financials 10
Industry Diversified Banks 99
Daily Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
High 55.25
High Date 04/01/2024
Low 49.27
Low Date 04/17/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 57.09
Support 49.73
Low 47.63
Low Date 03/01/2024
High 55.25
High Date 04/01/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 57.39
High Date 12/14/2023
Low 47.63
Low Date 03/01/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 58.78
Support 47.16
Low 28.40
Low Date 05/04/2023
High 57.39
High Date 12/14/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 102.09
High Date 02/10/2022
Low 28.40
Low Date 05/04/2023
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.