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Archive
- 6/7/2024 -
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Vanguard Information Technology ETF (VGT) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the Vanguard Information Technology ETF (VGT). During the week, the VGT gained 15.24 points, or 2.85%, and closed at 549.85 on Friday, June 7, 2024. Weekly volume was -27% below average.
 Long-term trend: [See VGT long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 291.61 and reached 553.98 on June 6, 2024. VGT gained -262.37 points, or -89.97%, in 86 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 460.97 and resistance is at 579.33. 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 long-term trend.
Medium-term trend: [See VGT medium-term trend chart]
A medium-term uptrend had started on April 19, 2024 at 478.25 and reached 553.98 on June 6, 2024. VGT gained -75.73 points, or -15.83%, in 6 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 529.94 and resistance is at 569.75. 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 VGT 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. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 and Williams' Percentage Range help.
During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help.
 Short-term trend: [See VGT short-term trend chart]
A short-term uptrend had started on May 31, 2024 at 522.65 and reached 553.98 on June 6, 2024. VGT gained -31.33 points, or -5.99%, in 6 days. The price is now at the 13.18% retracement level.
 Daily Technical Indicators: [See VGT 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. Daily Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index, Lane's Stochastic and MACD bearish divergence. Use the following link to access Relative Strength Index help.
The daily MACD line is above its signal line since June 4, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.
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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