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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Live Natio (LYV) Technical Analysis

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Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is strongly overbought
Daily :Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overboughtMACD bearish divergenceThe price has fallen below the Parabolic SARPrice has crossed below the 50 Day Moving Average
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It was a sixth consecutive positive week for the Live Natio (LYV). During the week, the LYV gained 4.03 points, or 4.04%, and closed at 103.77 on Friday, March 15, 2024. It was the best weekly gain since December 15, 2023. Weekly volume was 6% above average.

Long-term trend: [See LYV long-term trend chart]
A long-term uptrend had started on March 24, 2023 at 64.32 and reached 104.88 on March 15, 2024. LYV gained -40.56 points, or -63.06%, in 51 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (87.93) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 resistance line in a long-term trend.

Medium-term trend: [See LYV medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 76.48 and reached 104.88 on March 15, 2024. LYV gained -28.40 points, or -37.13%, in 20 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 94.15 and resistance is at 106.72. 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 medium-term trend.

Weekly Technical Indicators: [See LYV weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought 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 above its signal line since December 8, 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 LYV short-term trend chart]
A short-term uptrend had started on February 6, 2024 at 86.67 and reached 104.88 on March 15, 2024. LYV gained -18.21 points, or -21.01%, in 38 days. The price is now at the 6.10% retracement level.

Daily Technical Indicators: [See LYV daily technical indicators chart]
Daily Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. Daily MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following links to access Lane's Stochastic and Relative Strength Index help.

The daily MACD line is above its signal line since February 13, 2024. This is an indication that the short-term trend is up.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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) 86.52
Overbought
Williams' Percentage Range (W%R) 15.10
Overbought
Lane's Stochastic (%D-Slow) 89.33
Overbought
Greed/Fear Indicator (GFI) 86.90
Overbought
Moving Average Converg./Diverg. (MACD) 2.68 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 75.48
Williams' Percentage Range (W%R) 7.50
Strong Overbought
Lane's Stochastic (%D-Slow) 71.76
Greed/Fear Indicator (GFI) 74.00
Moving Average Converg./Diverg. (MACD) 2.23
Trading Signals
Description Value Chart
Monthly Trendline Resistance 106.72
Upper Bollinger Band 106.13
Daily Stochastic Crossing 104.15
Price 103.77
Weekly Stochastic Crossing 100.40
Parabolic System 98.58
20 Day Moving Average 97.46
Monthly Trendline Support 94.15
50 Day Moving Average 92.74
Quarterly Trendline Resistance 91.13
Lower Bollinger Band 89.93
Quarterly Trendline Support 87.93
Sector and Industry
Description Name Rank
Sector Communication Services 5
Industry Movies & Entertainment 45
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 92.15
Low Date 02/26/2024
High 104.88
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 86.67
Low Date 02/06/2024
High 104.88
High Date 03/15/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 106.72
Support 94.15
Low 76.48
Low Date 10/27/2023
High 104.88
High Date 03/15/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 91.13
Support 87.93
Low 64.32
Low Date 03/24/2023
High 104.88
High Date 03/15/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 127.75
High Date 11/05/2021
Low 64.32
Low Date 03/24/2023
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.