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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Eversource (ES) Technical Analysis

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Summary:
Weekly :Overbought sectorMACD bearish divergenceBroken trend resistance line
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtPrice is close to the 50 Day Moving AverageDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARPrice is near the Fibonacci 38.2% retracement levelThe 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 Eversource (ES). During the week, the ES gave back -0.23 points, or -0.39%, and closed at 59.46 on Friday, April 26, 2024. Weekly volume was -32% below average.

ES is a member of Utilities Sector. Utilities 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 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 Descending Triangle chart pattern. The downtrend resistance line (52.16) 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. ES 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 ES medium-term trend chart]
A medium-term uptrend had started on January 23, 2024 at 52.09 and reached 61.18 on April 25, 2024. ES gained -9.09 points, or -17.45%, in 13 weeks. The price is now at the 18.92% retracement level.

Weekly Technical Indicators: [See ES weekly technical indicators chart]
Weekly technical indicators are neutral. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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.

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 uptrend had started on April 16, 2024 at 56.67 and reached 61.18 on April 25, 2024. ES gained -4.51 points, or -7.96%, in 9 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See ES 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. Use the following links to access Lane's Stochastic and Williams' Percentage Range 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.

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) 49.94
Williams' Percentage Range (W%R) 13.50
Overbought
Lane's Stochastic (%D-Slow) 82.89
Overbought
Greed/Fear Indicator (GFI) 73.10
Moving Average Converg./Diverg. (MACD) 0.30
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 70.48
Williams' Percentage Range (W%R) 32.40
Lane's Stochastic (%D-Slow) 74.82
Greed/Fear Indicator (GFI) 66.15
Moving Average Converg./Diverg. (MACD) -1.52 Bearish
Trading Signals
Description Value Chart
Upper Bollinger Band 61.04
Daily Stochastic Crossing 60.44
Weekly Stochastic Crossing 59.99
Price 59.46
20 Day Moving Average 59.23
50 Day Moving Average 58.91
Yearly Trendline Resistance 57.71
Parabolic System 57.68
Lower Bollinger Band 57.60
Yearly Trendline Support 52.16
Sector and Industry
Description Name Rank
Sector Utilities 11
Industry Multi-Utilities 100
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 61.18
High Date 04/25/2024
Low 59.43
Low Date 04/26/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 56.67
Low Date 04/16/2024
High 61.18
High Date 04/25/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 56.16
Low Date 03/26/2024
High 61.18
High Date 04/25/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 52.09
Low Date 01/23/2024
High 61.18
High Date 04/25/2024
Description Value
Direction Down
Chart Pattern Descending Triangle
Status Broken Resistance
Resistance 57.71
Support 52.16
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.