The Greedy Trader Weekly Analysis
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Uptrend Support

Uptrend Support 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. Stock market alert is a warning signal. Uptrend Support stock alert indicates that price is near long-term support trendline and probability of short-term trend reversal is high. The strategy here is to take advantage of established uptrend price pullback and entering the long position just prior to the continuation of the trend. The strategy has relatively low risk.

Uptrend Support

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- 5/17/2024 -
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iShares Lehman Aggregate Bond (AGG) Technical Analysis

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Summary:
Weekly :Stochastic signal line moved above oversold areaPrice is near the Fibonacci 38.2% retracement level
Daily :Williams' Percentage Range is overboughtStochastic signal line moved below overbought areaA Parabolic SAR indicator is above and near the pricePrice has crossed above the 50 Day Moving Average
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It was a third positive week after 4 consecutive negative weeks for the iShares Lehman Aggregate Bond (AGG). During the week, the AGG climbed 0.53 points, or 0.55%, and closed at 96.77 on Friday, May 17, 2024. Weekly volume was -32% below average.

Long-term trend: [See AGG long-term trend chart]
A long-term uptrend had started on October 23, 2023 at 91.58 and reached 99.70 on December 27, 2023. AGG gained -8.12 points, or -8.87%, in 9 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Medium-term trend: [See AGG medium-term trend chart]
A medium-term downtrend had started on December 27, 2023 at 99.70 and reached 94.85 on April 25, 2024. AGG lost 4.85 points, or 4.86%, in 17 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 94.24 and resistance is at 97.10. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See AGG weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly 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 weekly MACD line is below its signal line since March 28, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.

Short-term trend: [See AGG short-term trend chart]
A short-term uptrend had started on April 25, 2024 at 94.85 and reached 97.28 on May 15, 2024. AGG gained -2.43 points, or -2.56%, in 20 days. The price is now at the 20.99% retracement level.

Daily Technical Indicators: [See AGG daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Use the following link to access Williams' Percentage Range help.

The daily MACD line is above its signal line since April 26, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.

A Parabolic SAR (stop and reversal) indicator (96.28) comes close to the price (96.77). 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.

During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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) 66.11
Williams' Percentage Range (W%R) 14.80
Overbought
Lane's Stochastic (%D-Slow) 79.84
Greed/Fear Indicator (GFI) 77.04
Moving Average Converg./Diverg. (MACD) -0.01
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 44.46
Williams' Percentage Range (W%R) 57.30
Lane's Stochastic (%D-Slow) 29.44
Greed/Fear Indicator (GFI) 40.48
Moving Average Converg./Diverg. (MACD) 0.00
Trading Signals
Description Value Chart
Upper Bollinger Band 97.55
Monthly Trendline Resistance 97.10
Daily Stochastic Crossing 97.06
Price 96.77
50 Day Moving Average 96.55
Parabolic System 96.28
20 Day Moving Average 96.02
Weekly Stochastic Crossing 95.95
Lower Bollinger Band 95.09
Monthly Trendline Support 94.24
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 97.28
High Date 05/15/2024
Low 96.77
Low Date 05/17/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 94.85
Low Date 04/25/2024
High 97.28
High Date 05/15/2024
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 97.10
Support 94.24
High 99.70
High Date 12/27/2023
Low 94.85
Low Date 04/25/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 91.58
Low Date 10/23/2023
High 99.70
High Date 12/27/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 119.73
High Date 08/06/2020
Low 91.58
Low Date 10/23/2023
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.