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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Linens 'n Things Inc. (LIN) Technical Analysis

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Summary:
Weekly :Overbought sector
Daily :The period of low volatility of the stock price
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It was the negative week for the Linens 'n Things Inc. (LIN). During the week, the LIN gave back -0.05 points, or -0.01%, and closed at 435.52 on Friday, May 31, 2024. Weekly volume was 22% above average.

LIN is a member of Materials Sector. Materials 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 LIN long-term trend chart]
A long-term uptrend had started on September 27, 2022 at 262.47 and reached 477.71 on March 13, 2024. LIN gained -215.24 points, or -82.01%, in 76 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 419.30 and resistance is at 472.69. A Rising 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 Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.

Medium-term trend: [See LIN medium-term trend chart]
A medium-term downtrend had started on March 13, 2024 at 477.71 and reached 413.61 on May 2, 2024. LIN lost 64.10 points, or 13.42%, in 7 weeks. The price is now at the 34.18% retracement level.

Weekly Technical Indicators: [See LIN weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since April 19, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term downtrend is strong. Use the following link to access a MACD help.

Short-term trend: [See LIN short-term trend chart]
A short-term uptrend had started on May 29, 2024 at 423.85 and reached 435.99 on May 31, 2024. LIN gained -12.14 points, or -2.86%, in 2 days. Price is near the trend high.

Daily Technical Indicators: [See LIN daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since May 10, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

The distance between the Bollinger Bands is falling, and it was 3.04% on Friday. It is 54.38% lower than one year average. It indicates the period of low volatility of the stock price. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 51.59
Williams' Percentage Range (W%R) 39.40
Lane's Stochastic (%D-Slow) 50.96
Greed/Fear Indicator (GFI) 54.38
Moving Average Converg./Diverg. (MACD) -3.55
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 39.91
Williams' Percentage Range (W%R) 58.30
Lane's Stochastic (%D-Slow) 27.45
Greed/Fear Indicator (GFI) 36.93
Moving Average Converg./Diverg. (MACD) 14.14
Trading Signals
Description Value Chart
Yearly Trendline Resistance 472.69
50 Day Moving Average 444.10
Upper Bollinger Band 440.45
Price 435.52
20 Day Moving Average 431.21
Daily Stochastic Crossing 429.83
Weekly Stochastic Crossing 428.99
Lower Bollinger Band 427.22
Parabolic System 420.00
Yearly Trendline Support 419.30
Sector and Industry
Description Name Rank
Sector Materials 11
Industry Industrial Gases 87
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 423.85
Low Date 05/29/2024
High 435.99
High Date 05/31/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 437.94
High Date 05/07/2024
Low 423.85
Low Date 05/29/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 413.61
Low Date 05/02/2024
High 437.94
High Date 05/07/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 477.71
High Date 03/13/2024
Low 413.61
Low Date 05/02/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 472.69
Support 419.30
Low 262.47
Low Date 09/27/2022
High 477.71
High Date 03/13/2024
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.