The Greedy Trader Weekly Analysis
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- 4/5/2024 -
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WestRock (WRK) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken trend support lineWilliams' Percentage Range and Lane's Stochastic are strongly overboughtStochastic has declined below the signal lineMACD bearish divergenceBroken trend resistance line
Daily :Daily  MACD line has moved below its signal linePrice is near the Fibonacci 38.2% retracement level
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It was the negative week for the WestRock (WRK). During the week, the WRK dropped -0.55 points, or -1.11%, and closed at 48.90 on Friday, April 5, 2024. It was the worst weekly loss since February 2, 2024. Weekly volume was -7% below average.

WRK is a member of Materials Sector. Materials 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 WRK long-term trend chart]
A long-term uptrend had started on March 17, 2023 at 26.84 and reached 49.67 on March 26, 2024. WRK gained -22.83 points, or -85.06%, in 53 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (41.22) 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 WRK medium-term trend chart]
A medium-term uptrend had started on February 6, 2024 at 38.30 and reached 49.67 on March 26, 2024. WRK gained -11.37 points, or -29.69%, in 7 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (49.83) is broken. A broken support is considered to be a long-term bearish 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 support in a medium-term trend.

Weekly Technical Indicators: [See WRK weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly 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 February 16, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See WRK short-term trend chart]
A short-term downtrend had started on March 26, 2024 at 49.67 and reached 48.47 on March 27, 2024. WRK lost 1.20 points, or 2.42%, in 1 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

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

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

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.22
Williams' Percentage Range (W%R) 25.10
Lane's Stochastic (%D-Slow) 55.47
Greed/Fear Indicator (GFI) 61.19
Moving Average Converg./Diverg. (MACD) 1.35
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 68.27
Williams' Percentage Range (W%R) 8.20
Strong Overbought
Lane's Stochastic (%D-Slow) 93.53
Strong Overbought
Greed/Fear Indicator (GFI) 82.41
Overbought
Moving Average Converg./Diverg. (MACD) 2.66 Bearish
Trading Signals
Description Value Chart
Monthly Trendline Resistance 52.68
Upper Bollinger Band 50.21
Monthly Trendline Support 49.83
Parabolic System 49.47
Weekly Stochastic Crossing 49.28
Daily Stochastic Crossing 49.07
Price 48.90
20 Day Moving Average 48.40
Quarterly Trendline Resistance 47.40
Lower Bollinger Band 45.85
50 Day Moving Average 45.00
Quarterly Trendline Support 41.22
Sector and Industry
Description Name Rank
Sector Materials 10
Industry Paper Packaging 63
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 49.67
High Date 03/26/2024
Low 48.47
Low Date 03/27/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 49.67
High Date 03/26/2024
Low 48.47
Low Date 03/27/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 52.68
Support 49.83
Low 38.30
Low Date 02/06/2024
High 49.67
High Date 03/26/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 47.40
Support 41.22
Low 26.84
Low Date 03/17/2023
High 49.67
High Date 03/26/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 57.67
High Date 06/14/2021
Low 26.84
Low Date 03/17/2023
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.