Electrical Components & Equipment Industry Technical AnalysisArchive
- 9/10/2021 -
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|It was the negative week for the Ametek (AME). During the week, the AME dropped -4.97 points, or -3.67%, and closed at 130.43 on Friday, September 10, 2021. It was the worst weekly loss since June 18, 2021. Weekly volume was -70% below average. |
Long-term trend: [See AME long-term trend chart]
A long-term uptrend had started on March 18, 2020 at 54.82 and reached 140.10 on August 2, 2021. AME gained -85.28 points, or -155.56%, in 71 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (148.15) 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 August 2, 2021 at 140.10 and reached 130.36 on September 10, 2021. AME lost 9.74 points, or 6.95%, in 5 weeks. Price is near the trend low.
Weekly Technical Indicators: [See AME weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since June 11, 2021. This is an indication that the medium-term trend is down. 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 August 30, 2021 at 137.95 and reached 130.36 on September 10, 2021. AME lost 7.59 points, or 5.50%, in 11 days. Price is near the trend low.
Daily Technical Indicators: [See AME daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold 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 below its signal line since August 30, 2021. 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.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.