The Greedy Trader Weekly Analysis
Sign In Feb 23, 2024
Skip Navigation Links
Number of records: 10
Share
Symbol:  

• Symbol Lookup
• View Technical Chart
• Add to Watch List
• Candlestick Patterns - N/A
• Stock Technical Indicators
• Stock Trends Analysis
• Market Sector Rank
• Stock Trading Signals

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 -
Sign In to see current Signals.

American Water Works Company Inc (AWK) Technical Analysis

Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :Oversold sectorOversold industryBroken trend resistance lineLane's Stochastic is oversold
Daily :Daily  MACD line has moved above its signal lineThe price has risen above the Parabolic SAR
Move cursor over the icon to see details.

It was a first positive week for the American Water Works Company Inc (AWK). During the week, the AWK climbed 0.62 points, or 0.51%, and closed at 122.82 on Friday, February 16, 2024. It was the best weekly gain since December 1, 2023. Weekly volume was 39% above average.

AWK is a member of Utilities Sector. Utilities is the most oversold sector. AWK is a member of Water Utilities Industry. Water Utilities is the seventh most oversold industry. 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 AWK long-term trend chart]
A long-term downtrend had started on December 31, 2021 at 189.65 and reached 114.25 on October 23, 2023. AWK lost 75.40 points, or 39.76%, in 94 weeks. The chart has formed a Falling Wedge chart pattern. The trend support level is at 110.44 and resistance is at 132.12. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a long-term trend.

Medium-term trend: [See AWK medium-term trend chart]
A medium-term downtrend had started on February 2, 2023 at 162.59 and reached 114.25 on October 23, 2023. AWK lost 48.34 points, or 29.73%, in 37 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (104.70) 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 medium-term trend.

Weekly Technical Indicators: [See AWK weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 below its signal line since February 2, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.

Short-term trend: [See AWK short-term trend chart]
A short-term downtrend had started on December 14, 2023 at 137.43 and reached 118.98 on February 13, 2024. AWK lost 18.45 points, or 13.43%, in 61 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 118.09 and resistance is at 130.47. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a short-term trend.

Daily Technical Indicators: [See AWK 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 risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 42.66
Williams' Percentage Range (W%R) 64.40
Lane's Stochastic (%D-Slow) 51.80
Greed/Fear Indicator (GFI) 43.36
Moving Average Converg./Diverg. (MACD) -1.96
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.59
Williams' Percentage Range (W%R) 65.70
Lane's Stochastic (%D-Slow) 19.42
Oversold
Greed/Fear Indicator (GFI) 32.80
Moving Average Converg./Diverg. (MACD) -3.09
Trading Signals
Description Value Chart
Yearly Trendline Resistance 132.12
Weekly Trendline Resistance 130.47
50 Day Moving Average 128.32
Upper Bollinger Band 127.58
20 Day Moving Average 123.30
Price 122.82
Daily Stochastic Crossing 121.76
Weekly Stochastic Crossing 121.20
Lower Bollinger Band 120.32
Parabolic System 118.97
Weekly Trendline Support 118.09
Quarterly Trendline Resistance 111.72
Yearly Trendline Support 110.44
Quarterly Trendline Support 104.70
Sector and Industry
Description Name Rank
Sector Utilities 1
Industry Water Utilities 7
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 118.98
Low Date 02/13/2024
High 124.34
High Date 02/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 130.47
Support 118.09
High 137.43
High Date 12/14/2023
Low 118.98
Low Date 02/13/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 114.25
Low Date 10/23/2023
High 137.43
High Date 12/14/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 111.72
Support 104.70
High 162.59
High Date 02/02/2023
Low 114.25
Low Date 10/23/2023
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Valid
Resistance 132.12
Support 110.44
High 189.65
High Date 12/31/2021
Low 114.25
Low Date 10/23/2023
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.