The Greedy Trader Weekly Analysis
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- 3/15/2024 -
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Vanguard Materials ETF (VAW) Technical Analysis

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Summary:
Weekly :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtLane's Stochastic and MACD bearish divergenceBroken trend resistance line
Daily :Lane's Stochastic is overboughtA Parabolic SAR indicator is above and near the price
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It was a fifth consecutive positive week for the Vanguard Materials ETF (VAW). During the week, the VAW climbed 1.55 points, or 0.79%, and closed at 198.65 on Friday, March 15, 2024. VAW was trading at average weekly trading volume.

Long-term trend: [See VAW long-term trend chart]
A long-term downtrend had started on April 21, 2022 at 201.11 and reached 146.72 on September 29, 2022. VAW lost 54.39 points, or 27.04%, in 23 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (168.32) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. VAW may retest the broken resistance line. It is considered to be a support line now. 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 VAW medium-term trend chart]
A medium-term uptrend had started on October 23, 2023 at 162.48 and reached 200.87 on March 13, 2024. VAW gained -38.39 points, or -23.63%, in 20 weeks. The price is now at the 5.78% retracement level.

Weekly Technical Indicators: [See VAW weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 24, 2023. 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 VAW short-term trend chart]
A short-term uptrend had started on February 5, 2024 at 179.00 and reached 200.87 on March 13, 2024. VAW gained -21.87 points, or -12.22%, in 37 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 188.52 and resistance is at 202.24. 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 short-term trend.

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

The daily MACD line is above its signal line since February 8, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

A Parabolic SAR (stop and reversal) indicator (197.34) comes close to the price (198.65). It indicates that the trend is getting weaker. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 75.82
Williams' Percentage Range (W%R) 23.60
Lane's Stochastic (%D-Slow) 80.44
Overbought
Greed/Fear Indicator (GFI) 77.54
Moving Average Converg./Diverg. (MACD) 3.15
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 76.34
Williams' Percentage Range (W%R) 8.70
Strong Overbought
Lane's Stochastic (%D-Slow) 80.29
Overbought Bearish
Greed/Fear Indicator (GFI) 76.00
Moving Average Converg./Diverg. (MACD) 2.78 Bearish
Trading Signals
Description Value Chart
Weekly Trendline Resistance 202.24
Upper Bollinger Band 201.78
Daily Stochastic Crossing 199.56
Price 198.65
Weekly Stochastic Crossing 198.60
Parabolic System 197.34
20 Day Moving Average 194.00
Weekly Trendline Support 188.52
50 Day Moving Average 187.83
Lower Bollinger Band 186.45
Yearly Trendline Resistance 173.44
Yearly Trendline Support 168.32
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 200.87
High Date 03/13/2024
Low 197.38
Low Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 202.24
Support 188.52
Low 179.00
Low Date 02/05/2024
High 200.87
High Date 03/13/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 162.48
Low Date 10/23/2023
High 200.87
High Date 03/13/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 146.72
Low Date 09/29/2022
High 200.87
High Date 03/13/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 173.44
Support 168.32
High 201.11
High Date 04/21/2022
Low 146.72
Low Date 09/29/2022
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.