The Greedy Trader Weekly Analysis
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Weekly 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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- 5/3/2024 -
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Grainger (W.W.) Inc. (GWW) Technical Analysis

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Summary:
Weekly :Broken trend resistance lineTrend resistance at 921.22
Daily :Williams' Percentage Range and Lane's Stochastic are oversold
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It was a first positive week after 5 consecutive negative weeks for the Grainger (W.W.) Inc. (GWW). During the week, the GWW climbed 2.68 points, or 0.29%, and closed at 931.94 on Friday, May 3, 2024. It was the best weekly gain since March 22, 2024. Weekly volume was 16% above average.

Long-term trend: [See GWW long-term trend chart]
A long-term uptrend had started on August 28, 2017 at 155.00 and reached 1034.18 on March 21, 2024. GWW gained -879.18 points, or -567.21%, in 342 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (329.10) 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 GWW medium-term trend chart]
A medium-term uptrend had started on March 23, 2020 at 200.61 and reached 1034.18 on March 21, 2024. GWW gained -833.57 points, or -415.52%, in 208 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (921.22). 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 medium-term trend.

Weekly Technical Indicators: [See GWW weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since April 12, 2024. Use the following link to access a MACD help.

Short-term trend: [See GWW short-term trend chart]
A short-term downtrend had started on March 21, 2024 at 1034.18 and reached 917.75 on April 30, 2024. GWW lost 116.43 points, or 11.26%, in 40 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 907.81 and resistance is at 999.50. 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 GWW daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. 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 daily MACD line is below its signal line since March 25, 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 38.55
Williams' Percentage Range (W%R) 88.50
Oversold
Lane's Stochastic (%D-Slow) 17.55
Oversold
Greed/Fear Indicator (GFI) 22.55
Moving Average Converg./Diverg. (MACD) -12.91
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.18
Williams' Percentage Range (W%R) 44.80
Lane's Stochastic (%D-Slow) 37.63
Greed/Fear Indicator (GFI) 47.16
Moving Average Converg./Diverg. (MACD) 60.26
Trading Signals
Description Value Chart
Monthly Trendline Support 1065.15
Upper Bollinger Band 1003.78
Weekly Trendline Resistance 999.50
50 Day Moving Average 976.80
20 Day Moving Average 953.10
Parabolic System 949.87
Weekly Stochastic Crossing 949.18
Price 931.94
Daily Stochastic Crossing 924.37
Quarterly Trendline Resistance 921.22
Weekly Trendline Support 907.81
Lower Bollinger Band 897.06
Quarterly Trendline Support 784.06
Sector and Industry
Description Name Rank
Sector Industrials 7
Industry Industrial Machinery 79
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 917.75
Low Date 04/30/2024
High 936.46
High Date 05/03/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 999.50
Support 907.81
High 1034.18
High Date 03/21/2024
Low 917.75
Low Date 04/30/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 1125.44
Support 1065.15
Low 674.41
Low Date 10/25/2023
High 1034.18
High Date 03/21/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Resistance
Resistance 921.22
Support 784.06
Low 200.61
Low Date 03/23/2020
High 1034.18
High Date 03/21/2024
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 267.45
Support 329.10
Low 155.00
Low Date 08/28/2017
High 1034.18
High Date 03/21/2024
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.