The Greedy Trader Weekly Analysis
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S&P 500 Overbought Stocks

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- 5/26/2023 -
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Darden Restaurants (DRI)

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Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionBroken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is strongly overboughtWeekly  MACD line has moved above its signal line
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtLane's Stochastic and MACD bearish divergence
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It was the negative week for the Darden Restaurants (DRI). During the week, the DRI gave back -0.13 points, or -0.08%, and closed at 161.28 on Friday, May 26, 2023. DRI was trading at average weekly trading volume.

Long-term trend: [See DRI long-term trend chart]
A long-term uptrend had started on June 16, 2022 at 110.96 and reached 163.77 on May 26, 2023. DRI gained -52.81 points, or -47.59%, in 49 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (151.72) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 DRI medium-term trend chart]
A medium-term uptrend had started on March 1, 2023 at 141.75 and reached 163.77 on May 26, 2023. DRI gained -22.02 points, or -15.53%, in 12 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (147.64) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 DRI 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.

During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help.

Short-term trend: [See DRI short-term trend chart]
A short-term uptrend had started on May 11, 2023 at 146.29 and reached 163.77 on May 26, 2023. DRI gained -17.48 points, or -11.95%, in 15 days. The price is now at the 14.24% retracement level.

Daily Technical Indicators: [See DRI daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since May 15, 2023. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 76.24
Williams' Percentage Range (W%R) 12.90
Overbought
Lane's Stochastic (%D-Slow) 83.65
Overbought Bearish
Greed/Fear Indicator (GFI) 82.34
Overbought
Moving Average Converg./Diverg. (MACD) 1.97 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.35
Williams' Percentage Range (W%R) 9.40
Strong Overbought
Lane's Stochastic (%D-Slow) 69.18
Greed/Fear Indicator (GFI) 72.80
Moving Average Converg./Diverg. (MACD) 4.00
Trading Signals
Description Value Chart
Upper Bollinger Band 166.43
Daily Stochastic Crossing 162.03
Price 161.28
Weekly Stochastic Crossing 158.91
Quarterly Trendline Resistance 158.20
20 Day Moving Average 154.88
Parabolic System 154.44
Monthly Trendline Resistance 153.09
50 Day Moving Average 153.04
Quarterly Trendline Support 151.72
Monthly Trendline Support 147.64
Lower Bollinger Band 145.96
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 7
Industry Restaurants 108
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 146.29
Low Date 05/11/2023
High 163.77
High Date 05/26/2023
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 145.90
Low Date 04/25/2023
High 163.77
High Date 05/26/2023
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 153.09
Support 147.64
Low 141.75
Low Date 03/01/2023
High 163.77
High Date 05/26/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 158.20
Support 151.72
Low 110.96
Low Date 06/16/2022
High 163.77
High Date 05/26/2023
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 13.21
Low Date 11/21/2008
High 164.28
High Date 09/23/2021
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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