The Greedy Trader Weekly Analysis
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Daily RSI:> 70
Number of records: 10
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Relative Strength Index (RSI Indicator)

The Relative Strength Index is a popular momentum oscillator, developed by Welles Wilder, Jr. It is one of the most widely used technical indicators. Relative Strength Index compares upward vs. downward movements in closing over a selected period. The RSI Indicator fluctuates from 0% to 100%. A stock with RSI Indicator higher than 70% is considered overbought and lower than 30% - oversold. A good rule is to adjust overbought/oversold index range to 80% in bull and to 20% in bear markets. Relative Strength Index can provide an early warning, but not the final signal. It should be used in conjunction with other stock picking techniques. The divergence between RSI Indicator and underlying stock price is the most important signal provided by RSI, and it can be an indication of an impending reversal. Using the RSI divergence (bullish and bearish), chart patterns, trendlines, support, and resistance lines along with the RSI Indicator chart can be very useful.

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- 3/28/2024 -
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Facebook (FB) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range and Lane's Stochastic are overboughtStochastic has declined below the signal lineBroken trend resistance lineBroken trend resistance line
Daily :The price has declined below the moving average in the center of the Bollinger BandsThe period of low volatility of the stock price
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It was the negative week for the Facebook (FB). During the week, the FB dropped -24.00 points, or -4.71%, and closed at 485.58 on Thursday, March 28, 2024. Weekly volume was -46% below average.

Long-term trend: [See FB long-term trend chart]
A long-term uptrend had started on November 4, 2022 at 88.09 and reached 523.57 on March 8, 2024. FB gained -435.48 points, or -494.36%, in 70 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (391.24) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 FB medium-term trend chart]
A medium-term uptrend had started on August 18, 2023 at 274.39 and reached 523.57 on March 8, 2024. FB gained -249.18 points, or -90.81%, in 29 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (337.39) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 FB weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish 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. Use the following links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since December 22, 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 FB short-term trend chart]
A short-term downtrend had started on March 21, 2024 at 515.04 and reached 485.15 on March 28, 2024. FB lost 29.89 points, or 5.80%, in 7 days. Price is near the trend low.

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

The daily MACD line is below its signal line since February 20, 2024. This is an indication that the short-term trend is down.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 6.6% on Friday. It is 52.87% lower than one year average. It indicates the period of low volatility of the stock price. 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) 40.31
Williams' Percentage Range (W%R) 64.60
Lane's Stochastic (%D-Slow) 48.30
Greed/Fear Indicator (GFI) 41.34
Moving Average Converg./Diverg. (MACD) 11.91
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 77.35
Williams' Percentage Range (W%R) 14.50
Overbought
Lane's Stochastic (%D-Slow) 87.81
Overbought
Greed/Fear Indicator (GFI) 79.53
Moving Average Converg./Diverg. (MACD) 44.51
Trading Signals
Description Value Chart
Parabolic System 508.25
Upper Bollinger Band 508.14
Weekly Stochastic Crossing 505.58
20 Day Moving Average 497.71
Daily Stochastic Crossing 494.59
Price 485.58
Lower Bollinger Band 476.09
50 Day Moving Average 465.08
Quarterly Trendline Support 391.24
Sector and Industry
Description Name Rank
Sector Communication Services 3
Industry Interactive Media & Services 60
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 515.04
High Date 03/21/2024
Low 485.15
Low Date 03/28/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 313.66
Low Date 12/04/2023
High 523.57
High Date 03/08/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 379.85
Support 337.39
Low 274.39
Low Date 08/18/2023
High 523.57
High Date 03/08/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 356.46
Support 391.24
Low 88.09
Low Date 11/04/2022
High 523.57
High Date 03/08/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 384.33
High Date 09/01/2021
Low 88.09
Low Date 11/04/2022
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.