The Greedy Trader Weekly Analysis
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Daily Price vs. Fibonacci:Near 23.6% 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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- 4/5/2024 -
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Eversource (ES) Technical Analysis

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Summary:
Weekly :Trend resistance at 58.77
Daily :The price has fallen below the Parabolic SARThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Eversource (ES). During the week, the ES dropped -1.26 points, or -2.11%, and closed at 58.51 on Friday, April 5, 2024. It was the worst weekly loss since January 19, 2024. Weekly volume was -34% below average.

Long-term trend: [See ES long-term trend chart]
A long-term downtrend had started on December 14, 2022 at 87.71 and reached 52.03 on November 1, 2023. ES lost 35.68 points, or 40.68%, in 46 weeks. The chart has formed a Falling Channel chart pattern. The price is near the trend resistance line (58.77). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.

Medium-term trend: [See ES medium-term trend chart]
A medium-term uptrend had started on January 23, 2024 at 52.09 and reached 60.78 on March 11, 2024. ES gained -8.69 points, or -16.68%, in 6 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 56.75 and resistance is at 63.57. 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 ES weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since November 17, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See ES short-term trend chart]
A short-term downtrend had started on March 11, 2024 at 60.78 and reached 56.16 on March 26, 2024. ES lost 4.62 points, or 7.60%, in 15 days. The price is now at the 50.87% retracement level.

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

The daily MACD line is below its signal line since March 14, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 declined below 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) 47.96
Williams' Percentage Range (W%R) 48.30
Lane's Stochastic (%D-Slow) 68.98
Greed/Fear Indicator (GFI) 56.22
Moving Average Converg./Diverg. (MACD) 0.21
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 42.83
Williams' Percentage Range (W%R) 48.50
Lane's Stochastic (%D-Slow) 69.68
Greed/Fear Indicator (GFI) 57.25
Moving Average Converg./Diverg. (MACD) -2.00
Trading Signals
Description Value Chart
Monthly Trendline Resistance 63.57
Upper Bollinger Band 60.45
Parabolic System 59.57
20 Day Moving Average 58.85
Daily Stochastic Crossing 58.78
Yearly Trendline Resistance 58.77
Weekly Stochastic Crossing 58.68
Price 58.51
50 Day Moving Average 57.55
Monthly Trendline Support 56.75
Lower Bollinger Band 56.71
Yearly Trendline Support 48.01
Sector and Industry
Description Name Rank
Sector Utilities 6
Industry Multi-Utilities 41
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 56.16
Low Date 03/26/2024
High 59.99
High Date 03/28/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 60.78
High Date 03/11/2024
Low 56.16
Low Date 03/26/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 63.57
Support 56.75
Low 52.09
Low Date 01/23/2024
High 60.78
High Date 03/11/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 64.64
High Date 01/03/2024
Low 52.09
Low Date 01/23/2024
Description Value
Direction Down
Chart Pattern Falling Channel
Status Test Resistance
Resistance 58.77
Support 48.01
High 87.71
High Date 12/14/2022
Low 52.03
Low Date 11/01/2023
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.