The Greedy Trader Weekly Analysis
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Downtrend Broken Resistance

Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.

Downtrend Broken Resist.

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- 12/13/2024 -
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Henry Schein (HSIC) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range is overboughtOversold sector
Daily :Williams' Percentage Range is overboughtDaily  MACD line has moved above its signal lineThe 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 Henry Schein (HSIC). During the week, the HSIC gained 3.60 points, or 4.93%, and closed at 76.60 on Friday, December 13, 2024. Weekly volume was 25% above average.

HSIC is a member of Health Care Sector. Health Care is the second most oversold 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 HSIC long-term trend chart]
A long-term uptrend had started on August 6, 2024 at 63.67 and reached 78.97 on November 27, 2024. HSIC gained -15.30 points, or -24.03%, in 16 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 66.96 and resistance is at 78.76. 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 long-term trend.

Medium-term trend: [See HSIC medium-term trend chart]
A medium-term uptrend had started on November 15, 2024 at 66.17 and reached 78.97 on November 27, 2024. HSIC gained -12.80 points, or -19.34%, in 1 weeks. The price is now at the 18.52% retracement level.

Weekly Technical Indicators: [See HSIC weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. 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 Williams' Percentage Range help.

The weekly MACD line is above its signal line since July 26, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See HSIC short-term trend chart]
A short-term uptrend had started on December 5, 2024 at 71.94 and reached 78.35 on December 11, 2024. HSIC gained -6.41 points, or -8.91%, in 6 days. The price is now at the 27.30% retracement level.

Daily Technical Indicators: [See HSIC daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range.

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 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.97
Williams' Percentage Range (W%R) 13.70
Overbought
Lane's Stochastic (%D-Slow) 63.21
Greed/Fear Indicator (GFI) 68.50
Moving Average Converg./Diverg. (MACD) 1.20
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.65
Williams' Percentage Range (W%R) 11.40
Overbought
Lane's Stochastic (%D-Slow) 64.08
Greed/Fear Indicator (GFI) 68.76
Moving Average Converg./Diverg. (MACD) 0.16
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 78.76
Upper Bollinger Band 78.68
Parabolic System 77.92
Price 76.60
Daily Stochastic Crossing 76.30
Weekly Stochastic Crossing 75.73
20 Day Moving Average 75.05
50 Day Moving Average 72.11
Lower Bollinger Band 70.38
Quarterly Trendline Support 66.96
Sector and Industry
Description Name Rank
Sector Health Care 2
Industry Health Care Distributors 99
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 71.94
Low Date 12/05/2024
High 78.35
High Date 12/11/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 71.94
Low Date 12/05/2024
High 78.35
High Date 12/11/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 66.17
Low Date 11/15/2024
High 78.97
High Date 11/27/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 78.76
Support 66.96
Low 63.67
Low Date 08/06/2024
High 78.97
High Date 11/27/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 92.68
High Date 04/14/2022
Low 60.01
Low Date 11/02/2023
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.