Stock Market Technical Indicators & Analysis
A few of these had their GLB (green line break-out) on Wednesday but looked good enough to list. A GLB is moire likely to work out if it occurs with above average trading volume. Here are two examples. A close below the green line would be a failed GLB.
I have found that one of the best patterns for an advancing stock is one where the 4wk average>10wk avg >30wk avg for several weeks and the stock consistently closes the week above its 4 week average. In such a stock one could buy when the stock closes the week after a bounce above its 4 wk average, designated by green bars in this chart. A green bar signifies that it has traded below or at the 4wk average at some point during the week and then closed the week back above it. A sign of possible technical weakness would be if such a stock closes the week below the 4 wk average. ANF last closed the week below its 4 wk average on October 27, 2223. Since that time it has closed every week above its 4 week average! The last price bar here is the current week thus far, showing the range through Tuesday only. ANF is currently floating above its 4 wk average, a sign of its possibly being extended. What a nice pattern to ride. This pattern works best by buying late Friday or Monday morning after one can be sure that a stock closes the week with a green bar and above its 4 week average. I often use TC2000 to scan for stocks with a weekly green bar. Another recent example is GCT.
GEHC came public in December, 2022. Last week it closed at an ATH, after a many months long consolidation. See weekly and monthly charts. To remain a successful GLB, it must not close below the green line, at 87.83.
