The Greedy Trader Weekly Analysis
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Uptrend Exhaustion

Uptrend Exhaustion 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 Exhaustion alert indicates that long term uptrend is exhausted and probability of long term trend reversal is high. Uptrend exhaustion stock market alert presents relatively low to medium risk - high reword stock pick for overvalued stocks.

The strategy is based on selling (or taking a short) position on anticipation of uptrend reversal.

Uptrend Exhaustion

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- 3/15/2024 -
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TransDigm Group (TDG) Technical Analysis

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Summary:
Weekly :Overbought sectorLane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtTrend resistance at 1180.89
Daily :The price has risen above the Parabolic SARPrice is near the Fibonacci 38.2% retracement levelThe period of low volatility of the stock price
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It was a first positive week for the TransDigm Group (TDG). During the week, the TDG climbed 7.21 points, or 0.62%, and closed at 1172.20 on Friday, March 15, 2024. Weekly volume was -15% below average.

TDG is a member of Industrials Sector. Industrials 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 TDG long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 499.63 and reached 1207.58 on February 23, 2024. TDG gained -707.95 points, or -141.69%, in 71 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (1180.89). The resistance is usually stronger when technical indicators are overbought. 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 resistance line in a long-term trend.

Medium-term trend: [See TDG medium-term trend chart]
A medium-term uptrend had started on October 3, 2023 at 802.46 and reached 1207.58 on February 23, 2024. TDG gained -405.12 points, or -50.48%, in 20 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 858.71 and resistance is at 1260.61. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See TDG weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 10, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.

Short-term trend: [See TDG short-term trend chart]
A short-term uptrend had started on March 11, 2024 at 1136.27 and reached 1192.58 on March 14, 2024. TDG gained -56.31 points, or -4.96%, in 3 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

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

The daily MACD line is below its signal line since February 27, 2024. The distance between MACD and the signal line is low and getting smaller.

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.

The distance between the Bollinger Bands is falling, and it was 4.58% on Friday. It is 53.86% 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) 44.51
Williams' Percentage Range (W%R) 48.40
Lane's Stochastic (%D-Slow) 72.76
Greed/Fear Indicator (GFI) 56.30
Moving Average Converg./Diverg. (MACD) 20.18
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 78.37
Williams' Percentage Range (W%R) 8.70
Strong Overbought
Lane's Stochastic (%D-Slow) 88.04
Overbought
Greed/Fear Indicator (GFI) 81.41
Overbought
Moving Average Converg./Diverg. (MACD) 69.04
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 1260.61
Upper Bollinger Band 1190.88
Weekly Stochastic Crossing 1188.97
Daily Stochastic Crossing 1183.40
Yearly Trendline Resistance 1180.89
20 Day Moving Average 1173.97
Price 1172.20
Monthly Trendline Resistance 1163.58
Parabolic System 1139.64
Lower Bollinger Band 1137.20
Monthly Trendline Support 1122.73
50 Day Moving Average 1114.77
Yearly Trendline Support 1044.79
Sector and Industry
Description Name Rank
Sector Industrials 12
Industry Aerospace & Defense 55
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 1136.27
Low Date 03/11/2024
High 1192.58
High Date 03/14/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 1136.27
Low Date 03/11/2024
High 1192.58
High Date 03/14/2024
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 1163.58
Support 1122.73
High 1207.58
High Date 02/23/2024
Low 1136.27
Low Date 03/11/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 1260.61
Support 858.71
Low 802.46
Low Date 10/03/2023
High 1207.58
High Date 02/23/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Resistance
Resistance 1180.89
Support 1044.79
Low 499.63
Low Date 10/13/2022
High 1207.58
High Date 02/23/2024
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.