The Greedy Trader Weekly Analysis
Sign In Jun 2, 2023
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Downtrend exhaustion - Stock Market Timing Signals and trading strategies.
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WestRock (WRK)

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Summary:
Weekly :Oversold sectorWilliams' Percentage Range is oversold
Daily :The price has fallen below the Parabolic SARDaily  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 second positive week after 3 consecutive negative weeks for the WestRock (WRK). During the week, the WRK gained 0.69 points, or 2.48%, and closed at 28.47 on Friday, May 26, 2023. It was the best weekly gain since March 31, 2023. Weekly volume was 46% above average.

WRK is a member of Materials Sector. Materials 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 WRK long-term trend chart]
A long-term downtrend had started on June 14, 2021 at 57.67 and reached 26.84 on March 17, 2023. WRK lost 30.83 points, or 53.46%, in 91 weeks. The price is now at the 5.29% retracement level.

Medium-term trend: [See WRK medium-term trend chart]
A medium-term downtrend had started on January 31, 2023 at 39.30 and reached 26.84 on March 17, 2023. WRK lost 12.46 points, or 31.70%, in 6 weeks. The price is now at the 13.08% retracement level.

Weekly Technical Indicators: [See WRK weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold 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 below its signal line since February 17, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See WRK short-term trend chart]
A short-term uptrend had started on May 17, 2023 at 26.85 and reached 28.68 on May 23, 2023. WRK gained -1.83 points, or -6.82%, in 6 days. The price is now at the 11.48% retracement level.

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

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 fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. 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.

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) 53.13
Williams' Percentage Range (W%R) 68.90
Lane's Stochastic (%D-Slow) 73.55
Greed/Fear Indicator (GFI) 52.58
Moving Average Converg./Diverg. (MACD) -0.54
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 37.80
Williams' Percentage Range (W%R) 91.10
Strong Oversold
Lane's Stochastic (%D-Slow) 28.58
Greed/Fear Indicator (GFI) 26.47
Moving Average Converg./Diverg. (MACD) -2.18
Trading Signals
Description Value Chart
Upper Bollinger Band 29.68
50 Day Moving Average 29.09
Parabolic System 28.68
Price 28.47
20 Day Moving Average 28.10
Daily Stochastic Crossing 28.09
Weekly Stochastic Crossing 27.92
Lower Bollinger Band 26.89
Sector and Industry
Description Name Rank
Sector Materials 2
Industry Paper Packaging 16
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 27.28
Low Date 05/25/2023
High 28.51
High Date 05/26/2023
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 26.85
Low Date 05/17/2023
High 28.68
High Date 05/23/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 31.29
High Date 04/20/2023
Low 26.85
Low Date 05/17/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 39.30
High Date 01/31/2023
Low 26.84
Low Date 03/17/2023
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.

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