The Greedy Trader Weekly Analysis
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- 3/15/2024 -
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Pinnacle West Capital (PNW) Technical Analysis

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Summary:
Weekly :Oversold sectorBroken trend resistance lineWeekly  MACD line has moved above its signal line
Daily :
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It was the negative week for the Pinnacle West Capital (PNW). During the week, the PNW gave back -0.72 points, or -1.00%, and closed at 70.98 on Friday, March 15, 2024. Weekly volume was 25% above average.

PNW is a member of Utilities Sector. Utilities is the 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 PNW long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 59.03 and reached 86.03 on July 25, 2023. PNW gained -27.00 points, or -45.74%, in 40 weeks. The price is now at the 55.74% retracement level.

Medium-term trend: [See PNW medium-term trend chart]
A medium-term downtrend had started on December 13, 2023 at 77.23 and reached 65.20 on February 8, 2024. PNW lost 12.03 points, or 15.58%, in 8 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (62.20) 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 medium-term trend.

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

During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help.

Short-term trend: [See PNW short-term trend chart]
A short-term uptrend had started on February 8, 2024 at 65.20 and reached 72.52 on March 11, 2024. PNW gained -7.32 points, or -11.23%, in 32 days. The price is now at the 21.04% retracement level.

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

The daily MACD line is above its signal line since February 15, 2024. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.20
Williams' Percentage Range (W%R) 39.00
Lane's Stochastic (%D-Slow) 74.68
Greed/Fear Indicator (GFI) 64.31
Moving Average Converg./Diverg. (MACD) 0.27
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 42.42
Williams' Percentage Range (W%R) 57.80
Lane's Stochastic (%D-Slow) 41.45
Greed/Fear Indicator (GFI) 43.99
Moving Average Converg./Diverg. (MACD) -1.87
Trading Signals
Description Value Chart
Upper Bollinger Band 72.88
Daily Stochastic Crossing 71.42
Price 70.98
50 Day Moving Average 69.82
20 Day Moving Average 69.81
Parabolic System 68.83
Weekly Stochastic Crossing 68.66
Weekly Trendline Resistance 68.55
Lower Bollinger Band 67.21
Weekly Trendline Support 62.20
Sector and Industry
Description Name Rank
Sector Utilities 1
Industry Electric Utilities 24
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 65.20
Low Date 02/08/2024
High 72.52
High Date 03/11/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 68.55
Support 62.20
High 77.23
High Date 12/13/2023
Low 65.20
Low Date 02/08/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 86.03
High Date 07/25/2023
Low 65.20
Low Date 02/08/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 59.03
Low Date 10/13/2022
High 86.03
High Date 07/25/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 105.51
High Date 02/21/2020
Low 59.03
Low Date 10/13/2022
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.