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
- 5/31/2024 -
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Exelon Corp. (EXC) Technical Analysis

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Summary:
Weekly :Overbought sectorStochastic signal line moved below overbought areaPrice is near the Fibonacci 38.2% retracement levelTrend support at 37.46
Daily :Lane's Stochastic is oversoldPrice has crossed above the 50 Day Moving AverageThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week for the Exelon Corp. (EXC). During the week, the EXC gained 0.86 points, or 2.34%, and closed at 37.55 on Friday, May 31, 2024. Weekly volume was 13% above average.

EXC 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 EXC long-term trend chart]
A long-term downtrend had started on January 9, 2023 at 44.37 and reached 33.35 on February 9, 2024. EXC lost 11.02 points, or 24.84%, in 56 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Medium-term trend: [See EXC medium-term trend chart]
A medium-term uptrend had started on February 9, 2024 at 33.35 and reached 38.99 on May 15, 2024. EXC gained -5.64 points, or -16.91%, in 13 weeks. The chart has formed a Rising Wedge chart pattern. The price is near the trend support (37.46) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.

Weekly Technical Indicators: [See EXC weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. 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 March 1, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See EXC short-term trend chart]
A short-term downtrend had started on May 15, 2024 at 38.99 and reached 36.13 on May 29, 2024. EXC lost 2.86 points, or 7.34%, in 14 days. The price is now at the 49.65% retracement level.

Daily Technical Indicators: [See EXC daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic.

The daily MACD line is below its signal line since May 21, 2024. This is an indication that the short-term trend is down.

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.

During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish 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) 48.86
Williams' Percentage Range (W%R) 74.80
Lane's Stochastic (%D-Slow) 17.48
Oversold
Greed/Fear Indicator (GFI) 30.51
Moving Average Converg./Diverg. (MACD) 0.04
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 60.91
Williams' Percentage Range (W%R) 37.90
Lane's Stochastic (%D-Slow) 71.03
Greed/Fear Indicator (GFI) 61.80
Moving Average Converg./Diverg. (MACD) -0.38
Trading Signals
Description Value Chart
Weekly Trendline Resistance 39.41
Upper Bollinger Band 38.96
Parabolic System 38.04
Weekly Stochastic Crossing 37.94
20 Day Moving Average 37.75
Price 37.55
Weekly Trendline Support 37.46
50 Day Moving Average 37.42
Daily Stochastic Crossing 36.69
Lower Bollinger Band 36.03
Sector and Industry
Description Name Rank
Sector Utilities 12
Industry Multi-Utilities 105
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 38.99
High Date 05/15/2024
Low 36.13
Low Date 05/29/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Test Support
Resistance 39.41
Support 37.46
Low 33.35
Low Date 02/09/2024
High 38.99
High Date 05/15/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 44.37
High Date 01/09/2023
Low 33.35
Low Date 02/09/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 58.01
High Date 12/31/2021
Low 33.35
Low Date 02/09/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 51.18
High Date 06/07/2019
Low 33.35
Low Date 02/09/2024
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.