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.

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- 5/31/2024 -
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Estee Lauder (EL) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range is oversoldBroken trend support line
Daily :Williams' Percentage Range and Lane's Stochastic are oversoldStochastic has raised above the signal line
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It was the negative week for the Estee Lauder (EL). During the week, the EL dropped -2.70 points, or -2.14%, and closed at 123.36 on Friday, May 31, 2024. Weekly volume was 13% above average.

Long-term trend: [See EL long-term trend chart]
A long-term downtrend had started on January 3, 2022 at 374.20 and reached 102.22 on November 1, 2023. EL lost 271.98 points, or 72.68%, in 95 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 53.71 and resistance is at 171.47. 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 long-term trend.

Medium-term trend: [See EL medium-term trend chart]
A medium-term uptrend had started on November 1, 2023 at 102.22 and reached 159.75 on February 5, 2024. EL gained -57.53 points, or -56.28%, in 13 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (164.54) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. EL may retest the broken support line. It is considered to be a resistance line now. 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 EL 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 May 17, 2024. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.

Short-term trend: [See EL short-term trend chart]
A short-term downtrend had started on May 16, 2024 at 139.34 and reached 119.96 on May 30, 2024. EL lost 19.38 points, or 13.91%, in 14 days. The price is now at the 17.54% retracement level.

Daily Technical Indicators: [See EL daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Use the following link to access Lane's Stochastic help.

The daily MACD line is below its signal line since May 22, 2024. This is an indication that the short-term trend is down.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 35.37
Williams' Percentage Range (W%R) 90.90
Strong Oversold
Lane's Stochastic (%D-Slow) 8.39
Strong Oversold
Greed/Fear Indicator (GFI) 17.61
Oversold
Moving Average Converg./Diverg. (MACD) -3.68
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 33.03
Williams' Percentage Range (W%R) 95.60
Strong Oversold
Lane's Stochastic (%D-Slow) 23.10
Greed/Fear Indicator (GFI) 23.60
Moving Average Converg./Diverg. (MACD) -3.94
Trading Signals
Description Value Chart
Upper Bollinger Band 139.71
50 Day Moving Average 138.53
Parabolic System 133.63
20 Day Moving Average 130.13
Weekly Stochastic Crossing 125.79
Price 123.36
Daily Stochastic Crossing 121.28
Lower Bollinger Band 121.26
Sector and Industry
Description Name Rank
Sector Consumer Staples 6
Industry Personal Products 50
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 139.34
High Date 05/16/2024
Low 119.96
Low Date 05/30/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 139.34
High Date 05/16/2024
Low 119.96
Low Date 05/30/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 159.75
High Date 02/05/2024
Low 119.96
Low Date 05/30/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 182.12
Support 164.54
Low 102.22
Low Date 11/01/2023
High 159.75
High Date 02/05/2024
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 171.47
Support 53.71
High 374.20
High Date 01/03/2022
Low 102.22
Low Date 11/01/2023
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.