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
- 2/23/2024 -
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CurrencyShares Swiss Franc Trust (FXF) Technical Analysis

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Summary:
Weekly :Broken trend support line
Daily :Stochastic signal line moved above oversold areaA Parabolic SAR indicator is below and near the price
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It was the negative week for the CurrencyShares Swiss Franc Trust (FXF). During the week, the FXF gave back -0.01 points, or -0.01%, and closed at 100.99 on Friday, February 23, 2024. Weekly volume was -52% below average.

Long-term trend: [See FXF long-term trend chart]
A long-term uptrend had started on November 3, 2022 at 88.08 and reached 106.75 on December 28, 2023. FXF gained -18.67 points, or -21.20%, in 60 weeks. The price is now at the 30.85% retracement level.

Medium-term trend: [See FXF medium-term trend chart]
A medium-term uptrend had started on October 3, 2023 at 96.27 and reached 106.75 on December 28, 2023. FXF gained -10.48 points, or -10.89%, in 12 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend support line (102.43) 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 FXF weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since February 9, 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 FXF short-term trend chart]
A short-term downtrend had started on December 28, 2023 at 106.75 and reached 100.23 on February 13, 2024. FXF lost 6.52 points, or 6.11%, in 47 days. The chart has formed a Falling Channel chart pattern. The trend support level is at 99.27 and resistance is at 101.99. 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 FXF daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish 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 daily MACD line is below its signal line since January 4, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

A Parabolic SAR (stop and reversal) indicator (101.17) comes close to the price (100.99). It indicates that the trend is getting weaker. 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) 28.13
Williams' Percentage Range (W%R) 77.20
Lane's Stochastic (%D-Slow) 48.20
Greed/Fear Indicator (GFI) 33.03
Moving Average Converg./Diverg. (MACD) -0.52
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.09
Williams' Percentage Range (W%R) 54.20
Lane's Stochastic (%D-Slow) 24.32
Greed/Fear Indicator (GFI) 39.97
Moving Average Converg./Diverg. (MACD) 0.95
Trading Signals
Description Value Chart
Monthly Trendline Resistance 112.41
Upper Bollinger Band 103.71
50 Day Moving Average 102.93
Monthly Trendline Support 102.43
Weekly Trendline Resistance 101.99
20 Day Moving Average 101.88
Weekly Stochastic Crossing 101.62
Parabolic System 101.17
Price 100.99
Daily Stochastic Crossing 100.74
Lower Bollinger Band 99.73
Weekly Trendline Support 99.27
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 100.23
Low Date 02/13/2024
High 101.24
High Date 02/20/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 101.99
Support 99.27
High 106.75
High Date 12/28/2023
Low 100.23
Low Date 02/13/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Support
Resistance 112.41
Support 102.43
Low 96.27
Low Date 10/03/2023
High 106.75
High Date 12/28/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 88.08
Low Date 11/03/2022
High 106.75
High Date 12/28/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 103.81
High Date 01/05/2021
Low 88.08
Low Date 11/03/2022
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.