The Greedy Trader Weekly Analysis
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- 3/15/2024 -
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Loblaw Companies Limited (L) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken uptrend resistance line - uptrend exhaustionRelative Strength Index, Williams' Percentage Range and Lane's Stochastic are overbought
Daily :Broken uptrend resistance line - uptrend exhaustionLane's Stochastic is strongly overboughtDaily  MACD line has moved above its signal lineThe price is above the upper Bollinger Band
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It was a second consecutive positive week for the Loblaw Companies Limited (L). During the week, the L gained 2.13 points, or 2.85%, and closed at 76.97 on Friday, March 15, 2024. It was the best weekly gain since November 24, 2023. L was trading at average weekly trading volume.

L is a member of Financials Sector. Financials 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 L long-term trend chart]
A long-term uptrend had started on September 26, 2022 at 49.36 and reached 76.99 on March 15, 2024. L gained -27.63 points, or -55.98%, in 76 weeks. Price is near the trend high.

Medium-term trend: [See L medium-term trend chart]
A medium-term uptrend had started on March 24, 2023 at 52.84 and reached 76.99 on March 15, 2024. L gained -24.15 points, or -45.70%, in 51 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (71.82) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 L weekly technical indicators chart]
Weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index, 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, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since June 2, 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 L short-term trend chart]
A short-term uptrend had started on December 15, 2023 at 67.20 and reached 76.99 on March 15, 2024. L gained -9.79 points, or -14.57%, in 91 days. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (75.11) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 short-term trend.

Daily Technical Indicators: [See L daily technical indicators chart]
Daily Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Lane's Stochastic.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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) 71.50
Williams' Percentage Range (W%R) 46.80
Lane's Stochastic (%D-Slow) 93.91
Strong Overbought
Greed/Fear Indicator (GFI) 72.86
Moving Average Converg./Diverg. (MACD) 0.77
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 83.51
Overbought
Williams' Percentage Range (W%R) 10.50
Overbought
Lane's Stochastic (%D-Slow) 88.93
Overbought
Greed/Fear Indicator (GFI) 81.81
Overbought
Moving Average Converg./Diverg. (MACD) 2.88
Trading Signals
Description Value Chart
Price 76.97
Daily Stochastic Crossing 76.79
Upper Bollinger Band 76.62
Weekly Stochastic Crossing 76.52
Weekly Trendline Resistance 75.68
Parabolic System 75.36
20 Day Moving Average 75.12
Weekly Trendline Support 75.11
Lower Bollinger Band 73.52
50 Day Moving Average 73.46
Monthly Trendline Resistance 72.00
Monthly Trendline Support 71.82
Sector and Industry
Description Name Rank
Sector Financials 11
Industry Multi-line Insurance 94
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 74.14
Low Date 03/04/2024
High 76.99
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 75.68
Support 75.11
Low 67.20
Low Date 12/15/2023
High 76.99
High Date 03/15/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 72.00
Support 71.82
Low 52.84
Low Date 03/24/2023
High 76.99
High Date 03/15/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 49.36
Low Date 09/26/2022
High 76.99
High Date 03/15/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 27.33
Low Date 05/14/2020
High 76.99
High Date 03/15/2024
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.