The Greedy Trader Weekly Analysis
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Downtrend Broken Resistance

Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.

Downtrend Broken Resist.

Archive
- 2/16/2024 -
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Analog Devices (ADI) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken trend support line
Daily :Price has crossed below the 50 Day Moving AverageThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Analog Devices (ADI). During the week, the ADI dropped -6.78 points, or -3.48%, and closed at 188.24 on Friday, February 16, 2024. Weekly volume was 46% above average.

ADI is a member of Information Technology Sector. Information Technology 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 ADI long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 133.48 and reached 202.75 on December 15, 2023. ADI gained -69.27 points, or -51.90%, in 61 weeks. The price is now at the 20.95% retracement level.

Medium-term trend: [See ADI medium-term trend chart]
A medium-term uptrend had started on October 30, 2023 at 154.99 and reached 202.75 on December 15, 2023. ADI gained -47.76 points, or -30.81%, in 6 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend support line (199.69) 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 ADI weekly technical indicators chart]
Weekly technical indicators are neutral.

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 low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See ADI short-term trend chart]
A short-term downtrend had started on January 24, 2024 at 202.44 and reached 183.01 on February 13, 2024. ADI lost 19.43 points, or 9.60%, in 20 days. The chart has formed a Falling Channel chart pattern. The trend support level is at 181.55 and resistance is at 192.26. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a short-term trend.

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

The daily MACD line is below its signal line since January 30, 2024. This is an indication that the short-term trend is down.

During the last week, the price has declined below 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.

During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 33.87
Williams' Percentage Range (W%R) 76.40
Lane's Stochastic (%D-Slow) 37.73
Greed/Fear Indicator (GFI) 31.73
Moving Average Converg./Diverg. (MACD) -0.09
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 61.99
Williams' Percentage Range (W%R) 31.70
Lane's Stochastic (%D-Slow) 57.27
Greed/Fear Indicator (GFI) 59.09
Moving Average Converg./Diverg. (MACD) 2.70
Trading Signals
Description Value Chart
Monthly Trendline Resistance 202.23
Monthly Trendline Support 199.69
Upper Bollinger Band 199.42
Weekly Stochastic Crossing 193.47
20 Day Moving Average 193.04
50 Day Moving Average 192.39
Weekly Trendline Resistance 192.26
Parabolic System 191.44
Price 188.24
Daily Stochastic Crossing 186.70
Lower Bollinger Band 182.84
Weekly Trendline Support 181.55
Sector and Industry
Description Name Rank
Sector Information Technology 10
Industry Semiconductors 62
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 183.01
Low Date 02/13/2024
High 190.52
High Date 02/16/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 192.26
Support 181.55
High 202.44
High Date 01/24/2024
Low 183.01
Low Date 02/13/2024
Description Value
Direction Up
Chart Pattern Ascending Triangle
Status Broken Support
Resistance 202.23
Support 199.69
Low 154.99
Low Date 10/30/2023
High 202.75
High Date 12/15/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 133.48
Low Date 10/13/2022
High 202.75
High Date 12/15/2023
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 15.29
Low Date 12/05/2008
High 202.75
High Date 12/15/2023
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.