The Greedy Trader Weekly Analysis
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Monthly 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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- 4/19/2024 -
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FirstEnergy Corp. (FE) Technical Analysis

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Summary:
Weekly :Overbought sectorStochastic signal line moved below overbought areaBroken trend resistance line
Daily :The price has risen above the Parabolic SARPrice has crossed above the 50 Day Moving AverageThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week for the FirstEnergy Corp. (FE). During the week, the FE gained 0.76 points, or 2.03%, and closed at 38.17 on Friday, April 19, 2024. Weekly volume was -30% below average.

FE 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 FE long-term trend chart]
A long-term downtrend had started on April 21, 2022 at 48.85 and reached 32.18 on October 3, 2023. FE lost 16.67 points, or 34.12%, in 75 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (30.85) is broken. A broken support is considered to be a long-term bullish signal. 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 FE medium-term trend chart]
A medium-term uptrend had started on February 8, 2024 at 35.41 and reached 38.73 on April 2, 2024. FE gained -3.32 points, or -9.38%, in 7 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 37.22 and resistance is at 39.25. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See FE weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. 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 link to access Lane's Stochastic help.

The weekly MACD line is above its signal line since October 27, 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 FE short-term trend chart]
A short-term downtrend had started on April 2, 2024 at 38.73 and reached 36.81 on April 16, 2024. FE lost 1.92 points, or 4.96%, in 14 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 36.41 and resistance is at 38.52. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a short-term trend.

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

The daily MACD line is below its signal line since April 2, 2024. This is an indication that the short-term trend is down.

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.

During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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) 47.65
Williams' Percentage Range (W%R) 44.80
Lane's Stochastic (%D-Slow) 34.31
Greed/Fear Indicator (GFI) 45.72
Moving Average Converg./Diverg. (MACD) 0.01
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.79
Williams' Percentage Range (W%R) 27.90
Lane's Stochastic (%D-Slow) 78.39
Greed/Fear Indicator (GFI) 68.69
Moving Average Converg./Diverg. (MACD) 0.10
Trading Signals
Description Value Chart
Monthly Trendline Resistance 39.25
Upper Bollinger Band 38.76
Weekly Trendline Resistance 38.52
Price 38.17
Weekly Stochastic Crossing 38.08
20 Day Moving Average 37.99
50 Day Moving Average 37.67
Daily Stochastic Crossing 37.43
Monthly Trendline Support 37.22
Lower Bollinger Band 36.89
Parabolic System 36.77
Weekly Trendline Support 36.41
Yearly Trendline Resistance 33.85
Yearly Trendline Support 30.85
Sector and Industry
Description Name Rank
Sector Utilities 11
Industry Electric Utilities 83
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 36.81
Low Date 04/16/2024
High 38.42
High Date 04/19/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 38.52
Support 36.41
High 38.73
High Date 04/02/2024
Low 36.81
Low Date 04/16/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 39.25
Support 37.22
Low 35.41
Low Date 02/08/2024
High 38.73
High Date 04/02/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 32.18
Low Date 10/03/2023
High 38.82
High Date 12/14/2023
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 33.85
Support 30.85
High 48.85
High Date 04/21/2022
Low 32.18
Low Date 10/03/2023
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.