The Greedy Trader Weekly Analysis
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Industrial Electrical Eqp Industry Technical Analysis

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- 12/6/2019 -
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Ametek (AME)

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range and Lane's Stochastic are strongly overboughtStochastic has declined below the signal lineTrend resistance at 99.11
Daily :Stochastic signal line moved below overbought areaThe price has fallen below the Parabolic SAR
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It was the negative week for the Ametek (AME). During the week, the AME gave back -0.46 points, or -0.46%, and closed at 98.55 on Friday, December 6, 2019. It was the worst weekly loss since October 4, 2019. Weekly volume was -44% below average.

AME is a member of Industrial Goods Sector. Industrial Goods 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 February 5, 2016 at 42.82 and reached 99.74 on November 27, 2019. AME gained -56.92 points, or -132.93%, in 198 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (99.11). 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 AME medium-term trend chart]
A medium-term uptrend had started on August 26, 2019 at 82.66 and reached 99.74 on November 27, 2019. AME gained -17.08 points, or -20.66%, in 13 weeks. The price is now at the 6.97% retracement level.

Weekly Technical Indicators: [See AME weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish 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.

The weekly MACD line is above its signal line since November 1, 2019. This is an indication that the medium-term trend is up. 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 October 2, 2019 at 85.18 and reached 99.74 on November 27, 2019. AME gained -14.56 points, or -17.09%, in 56 days. The chart has formed a Broadening Ascending Wedge chart pattern.

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 below overbought area. Such crossover is considered a bearish signal.

The daily MACD line is below its signal line since November 22, 2019.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 51.86
Williams' Percentage Range (W%R) 24.00
Lane's Stochastic (%D-Slow) 35.09
Greed/Fear Indicator (GFI) 54.31
Moving Average Converg./Diverg. (MACD) 1.64
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 79.00
Williams' Percentage Range (W%R) 6.20
Strong Overbought
Lane's Stochastic (%D-Slow) 92.87
Strong Overbought
Greed/Fear Indicator (GFI) 82.27
Overbought
Moving Average Converg./Diverg. (MACD) 2.61
Trading Signals
Description Value Chart
Parabolic System 99.24
Upper Bollinger Band 99.14
Quarterly Trendline Resistance 99.11
Weekly Stochastic Crossing 98.78
Price 98.55
20 Day Moving Average 97.75
Daily Stochastic Crossing 97.45
Lower Bollinger Band 94.90
50 Day Moving Average 93.16
Sector and Industry
Description Name Rank
Sector Industrial Goods 8
Industry Industrial Electrical Eqp 151
Daily Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Low 85.18
Low Date 10/02/2019
High 99.74
High Date 11/27/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 82.66
Low Date 08/26/2019
High 99.74
High Date 11/27/2019
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 63.14
Low Date 12/26/2018
High 99.74
High Date 11/27/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Test Resistance
Resistance 99.11
Support 69.96
Low 42.82
Low Date 02/05/2016
High 99.74
High Date 11/27/2019
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 2.30
Low Date 03/14/2000
High 99.74
High Date 11/27/2019
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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