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Advanced TA SearchArchive
- 5/3/2024 -
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Ametek (AME) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Ametek (AME). During the week, the AME dropped -10.95 points, or -6.17%, and closed at 166.56 on Friday, May 3, 2024. Weekly volume was 73% above average.
 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 (200.08) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. AME may retest the broken support line. It is considered to be a resistance 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 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 (173.30) 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.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.
 Short-term trend: [See AME short-term trend chart]
A short-term downtrend had started on April 24, 2024 at 181.14 and reached 161.96 on May 2, 2024. AME lost 19.18 points, or 10.59%, in 8 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See AME daily technical indicators chart]
Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily Williams' Percentage Range. 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.
The daily MACD line is below its signal line since March 8, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.
The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. 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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