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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Vanguard High Dividend Yield Index Fund ETF Shares (VYM) Technical Analysis

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Summary:
Weekly :Relative Strength Index and Williams' Percentage Range are overboughtLane's Stochastic is strongly overboughtStochastic has declined below the signal lineBroken trend resistance line
Daily :Stochastic signal line moved below overbought areaDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARPrice is near the Fibonacci 23.6% retracement level
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It was the negative week for the Vanguard High Dividend Yield Index Fund ETF Shares (VYM). During the week, the VYM gave back -0.41 points, or -0.35%, and closed at 116.92 on Friday, March 15, 2024. It was the worst weekly loss since November 10, 2023. Weekly volume was -14% below average.

Long-term trend: [See VYM long-term trend chart]
A long-term uptrend had started on May 6, 2010 at 17.04 and reached 118.74 on March 13, 2024. VYM gained -101.70 points, or -596.83%, in 722 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 103.19 and resistance is at 125.34. 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 VYM medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 98.40 and reached 118.74 on March 13, 2024. VYM gained -20.34 points, or -20.67%, in 19 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (115.95) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 medium-term trend.

Weekly Technical Indicators: [See VYM weekly technical indicators chart]
Weekly Relative Strength Index and Williams' Percentage Range are overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Williams' Percentage Range or strongly overbought weekly Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 24, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See VYM short-term trend chart]
A short-term uptrend had started on February 13, 2024 at 111.31 and reached 118.74 on March 13, 2024. VYM gained -7.43 points, or -6.68%, in 29 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See VYM daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.25
Williams' Percentage Range (W%R) 46.30
Lane's Stochastic (%D-Slow) 73.95
Greed/Fear Indicator (GFI) 64.65
Moving Average Converg./Diverg. (MACD) 1.22
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 88.51
Overbought
Williams' Percentage Range (W%R) 11.50
Overbought
Lane's Stochastic (%D-Slow) 91.34
Strong Overbought
Greed/Fear Indicator (GFI) 80.07
Overbought
Moving Average Converg./Diverg. (MACD) 1.96
Trading Signals
Description Value Chart
Yearly Trendline Resistance 125.34
Upper Bollinger Band 118.89
Parabolic System 118.76
Weekly Stochastic Crossing 118.11
Daily Stochastic Crossing 117.97
Price 116.92
20 Day Moving Average 116.21
Monthly Trendline Support 115.95
Monthly Trendline Resistance 114.98
50 Day Moving Average 113.87
Lower Bollinger Band 113.53
Yearly Trendline Support 103.19
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 111.31
Low Date 02/13/2024
High 118.74
High Date 03/13/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 109.47
Low Date 01/18/2024
High 118.74
High Date 03/13/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 114.98
Support 115.95
Low 98.40
Low Date 10/27/2023
High 118.74
High Date 03/13/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 94.59
Low Date 10/13/2022
High 118.74
High Date 03/13/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 125.34
Support 103.19
Low 17.04
Low Date 05/06/2010
High 118.74
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.