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Uptrend ExhaustionArchive
- 5/10/2024 -
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Charles Schwab (SCHW) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a fourth consecutive positive week for the Charles Schwab (SCHW). During the week, the SCHW climbed 0.07 points, or 0.09%, and closed at 76.11 on Friday, May 10, 2024. Weekly volume was -43% below average.
SCHW is a member of Financials Sector. Financials is the 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 SCHW long-term trend chart]
A long-term downtrend had started on February 9, 2022 at 96.24 and reached 45.00 on March 13, 2023. SCHW lost 51.24 points, or 53.24%, in 56 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (72.53). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.
 Medium-term trend: [See SCHW medium-term trend chart]
A medium-term uptrend had started on October 25, 2023 at 48.66 and reached 77.05 on May 7, 2024. SCHW gained -28.39 points, or -58.34%, in 27 weeks. Price is near the trend high.
 Weekly Technical Indicators: [See SCHW weekly technical indicators chart]
Weekly Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index or strongly overbought weekly Williams' Percentage Range and 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 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 10, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See SCHW short-term trend chart]
A short-term uptrend had started on January 17, 2024 at 59.67 and reached 77.05 on May 7, 2024. SCHW gained -17.38 points, or -29.13%, in 111 days. The chart has formed a Rising Channel chart pattern. The trend support level is at 72.74 and resistance is at 76.75. 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 short-term trend.
 Daily Technical Indicators: [See SCHW 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.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
A Parabolic SAR (stop and reversal) indicator (75.45) comes close to the price (76.11). It indicates that the trend is getting weaker. 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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