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Advanced TA SearchArchive
- 5/10/2024 -
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Ametek (AME) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week after 6 consecutive negative weeks for the Ametek (AME). During the week, the AME gained 4.24 points, or 2.55%, and closed at 170.80 on Friday, May 10, 2024. It was the best weekly gain since February 23, 2024. Weekly volume was 29% above average.
AME is a member of Industrials Sector. Industrials is the second 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 AME long-term trend chart]
A long-term uptrend had started on October 31, 2023 at 136.89 and reached 186.33 on March 21, 2024. AME gained -49.44 points, or -36.12%, in 20 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (202.57) is broken. A broken support is considered to be a long-term bearish signal. 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 support in a long-term trend.
 Medium-term trend: [See AME medium-term trend chart]
A medium-term downtrend had started on March 21, 2024 at 186.33 and reached 161.96 on May 2, 2024. AME lost 24.37 points, or 13.08%, in 6 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend support line (171.83) is broken. Usually a broken support is considered to be a long-term bearish 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 support in a medium-term trend.
 Weekly Technical Indicators: [See AME weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 26, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
 Short-term trend: [See AME short-term trend chart]
A short-term uptrend had started on May 2, 2024 at 161.96 and reached 171.57 on May 10, 2024. AME gained -9.61 points, or -5.93%, in 8 days. The price is now at the 8.01% retracement level.
Daily Technical Indicators: [See AME daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily 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 daily MACD line is below its signal line since March 8, 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.
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