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.
Technical analysis of stock trend chart following long term trend analysis and trend following indicator for broken resistance trend trading. Stock trend analysis and broken resistance trend following indicators.
trend trading,trend following,stock trend chart,technical analysis of stock trend,trend following indicator,following long term trend,Broken Resistance

Downtrend Broken Resist.

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- 5/6/2022 -
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American Electric Power (AEP)

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Summary:
Weekly :Overbought sectorLane's Stochastic is overboughtBroken trend resistance lineBroken trend resistance line
Daily :
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It was a first positive week after 3 consecutive negative weeks for the American Electric Power (AEP). During the week, the AEP climbed 0.54 points, or 0.54%, and closed at 99.65 on Friday, May 6, 2022. AEP was trading at average weekly trading volume.

AEP is a member of Utilities Sector. Utilities 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 AEP long-term trend chart]
A long-term downtrend had started on February 4, 2020 at 104.97 and reached 65.14 on March 23, 2020. AEP lost 39.83 points, or 37.94%, in 6 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (87.17) 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 long-term trend.

Medium-term trend: [See AEP medium-term trend chart]
A medium-term uptrend had started on February 26, 2021 at 74.80 and reached 104.81 on April 6, 2022. AEP gained -30.01 points, or -40.12%, in 57 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend resistance line (85.21) 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 medium-term trend.

Weekly Technical Indicators: [See AEP weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. 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 Lane's Stochastic help.

The weekly MACD line is above its signal line since December 17, 2021. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See AEP short-term trend chart]
A short-term uptrend had started on December 1, 2021 at 80.22 and reached 104.81 on April 6, 2022. AEP gained -24.59 points, or -30.65%, in 126 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 88.18 and resistance is at 110.12. 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 AEP daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since April 13, 2022.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.88
Williams' Percentage Range (W%R) 65.00
Lane's Stochastic (%D-Slow) 39.78
Greed/Fear Indicator (GFI) 39.54
Moving Average Converg./Diverg. (MACD) 0.71
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 65.54
Williams' Percentage Range (W%R) 25.80
Lane's Stochastic (%D-Slow) 81.32
Overbought
Greed/Fear Indicator (GFI) 71.31
Moving Average Converg./Diverg. (MACD) 3.00
Trading Signals
Description Value Chart
Weekly Trendline Resistance 110.12
Upper Bollinger Band 103.01
Parabolic System 102.41
Weekly Stochastic Crossing 102.27
20 Day Moving Average 100.89
Price 99.65
Daily Stochastic Crossing 99.61
50 Day Moving Average 98.19
Lower Bollinger Band 97.02
Monthly Trendline Resistance 92.15
Weekly Trendline Support 88.18
Yearly Trendline Support 87.17
Monthly Trendline Support 85.21
Sector and Industry
Description Name Rank
Sector Utilities 11
Industry Electric Utilities 104
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Low 84.20
Low Date 02/17/2022
High 104.81
High Date 04/06/2022
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 110.12
Support 88.18
Low 80.22
Low Date 12/01/2021
High 104.81
High Date 04/06/2022
Description Value
Direction Up
Chart Pattern Ascending Triangle
Status Broken Resistance
Resistance 92.15
Support 85.21
Low 74.80
Low Date 02/26/2021
High 104.81
High Date 04/06/2022
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 65.14
Low Date 03/23/2020
High 104.81
High Date 04/06/2022
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 71.70
Support 87.17
High 104.97
High Date 02/04/2020
Low 65.14
Low Date 03/23/2020
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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