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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- 3/15/2024 -
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Las Vegas (LVS) Technical Analysis

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Summary:
Weekly :Trend support at 48.44Price is near the Fibonacci 38.2% retracement level
Daily :Price has crossed below the 50 Day Moving AverageThe price has risen above the Parabolic SAR
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It was the negative week for the Las Vegas (LVS). During the week, the LVS gave back -0.48 points, or -0.93%, and closed at 51.03 on Friday, March 15, 2024. Weekly volume was -18% below average.

Long-term trend: [See LVS long-term trend chart]
A long-term uptrend had started on May 12, 2022 at 28.88 and reached 65.58 on May 1, 2023. LVS gained -36.70 points, or -127.08%, in 50 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (48.44) 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 long-term trend.

Medium-term trend: [See LVS medium-term trend chart]
A medium-term uptrend had started on October 5, 2023 at 43.77 and reached 55.65 on February 16, 2024. LVS gained -11.88 points, or -27.14%, in 19 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

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

The weekly MACD line is above its signal line since December 15, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See LVS short-term trend chart]
A short-term downtrend had started on February 16, 2024 at 55.65 and reached 49.98 on March 5, 2024. LVS lost 5.67 points, or 10.19%, in 18 days. The price is now at the 18.52% retracement level.

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

The daily MACD line is below its signal line since February 23, 2024. This is an indication that the short-term trend is down.

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.

During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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) 36.94
Williams' Percentage Range (W%R) 61.90
Lane's Stochastic (%D-Slow) 58.98
Greed/Fear Indicator (GFI) 44.67
Moving Average Converg./Diverg. (MACD) 0.17
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 63.29
Williams' Percentage Range (W%R) 31.80
Lane's Stochastic (%D-Slow) 70.35
Greed/Fear Indicator (GFI) 64.05
Moving Average Converg./Diverg. (MACD) -0.26
Trading Signals
Description Value Chart
Upper Bollinger Band 55.07
Weekly Stochastic Crossing 52.76
20 Day Moving Average 52.72
Daily Stochastic Crossing 52.45
50 Day Moving Average 51.59
Price 51.03
Parabolic System 50.70
Lower Bollinger Band 49.52
Yearly Trendline Support 48.44
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 7
Industry Casinos & Gaming 40
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 49.98
Low Date 03/05/2024
High 53.79
High Date 03/13/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 55.65
High Date 02/16/2024
Low 49.98
Low Date 03/05/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 43.77
Low Date 10/05/2023
High 55.65
High Date 02/16/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 65.58
High Date 05/01/2023
Low 43.77
Low Date 10/05/2023
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Test Support
Resistance 101.56
Support 48.44
Low 28.88
Low Date 05/12/2022
High 65.58
High Date 05/01/2023
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.