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Downtrend Broken Resist.Archive
- 5/10/2024 -
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Equifax Inc. (EFX) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a third positive week after 3 consecutive negative weeks for the Equifax Inc. (EFX). During the week, the EFX gained 14.54 points, or 6.40%, and closed at 241.59 on Friday, May 10, 2024. It was the best weekly gain since December 15, 2023. Weekly volume was -11% below average.
EFX 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 EFX long-term trend chart]
A long-term downtrend had started on December 13, 2021 at 300.11 and reached 145.98 on October 21, 2022. EFX lost 154.13 points, or 51.36%, in 44 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (167.21) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. EFX may retest the broken resistance line. It is considered to be a support line now. 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 long-term trend.
 Medium-term trend: [See EFX medium-term trend chart]
A medium-term downtrend had started on February 29, 2024 at 275.10 and reached 213.02 on April 18, 2024. EFX lost 62.08 points, or 22.57%, in 7 weeks. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 186.43 and resistance is at 273.93. A Broadening Descending 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 Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See EFX weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 5, 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 EFX short-term trend chart]
A short-term uptrend had started on April 18, 2024 at 213.02 and reached 243.26 on May 10, 2024. EFX gained -30.24 points, or -14.20%, in 22 days. The price is now at the 5.52% retracement level.
 Daily Technical Indicators: [See EFX daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic. 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 above its signal line since May 2, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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.
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