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Williams' Percentage Range (W%R) |
Williams' %R is an effective momentum indicator that measures
overbought/oversold levels. Like other indicators, W%R ranges between 0% and
100% , but in opposite to the other indicators, the 0% indicating overbought and
100% - the oversold stocks. W%R measures the closing price in relation to the recent
low/high range. A bullish signal is generated when the W%R has reached 100,
five time bars have elapsed, and the W%R has subsequently fallen to 95. A
reverse signal is considered as bearish. For the sake of simplicity, the W%R
closed above 10% is considered bearish and below 90% - bullish. In trending
markets, the W%R stays at one end of the scale and gives false signals to
trade against the trend. That is why W%R is not considered a stand-along
technique, and it is essential to use it with some sort of trend formation
indicators. The divergence between price and W%R rarely occurs and presents an
important buy/sell signal. As our research shows, the W%R move to upper or lower
bounds can be used as an earliest signal of an impending reversal. Using the Williams %R bullish divergence/bearish divergence, chart patterns, trendlines, support, and resistance lines along with the W%R chart can be very useful.
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Advanced TA SearchArchive - 4/5/2024 - Sign In to see current Signals. |
Best Buy Co., Inc. (BBY) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was the negative week for the Best Buy Co., Inc. (BBY). During the week, the BBY dropped -2.42 points, or -2.95%, and closed at 79.61 on Friday, April 5, 2024. It was the worst weekly loss since January 19, 2024. Weekly volume was -22% below average. Long-term trend: [See BBY long-term trend chart] A long-term downtrend had started on November 22, 2021 at 141.97 and reached 60.79 on October 13, 2022. BBY lost 81.18 points, or 57.18%, in 46 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level. Medium-term trend: [See BBY medium-term trend chart] A medium-term uptrend had started on November 10, 2023 at 62.30 and reached 86.11 on February 29, 2024. BBY gained -23.81 points, or -38.22%, in 15 weeks. The price is now at the 27.30% retracement level. Weekly Technical Indicators: [See BBY weekly technical indicators chart] Weekly technical indicators are neutral. The weekly MACD line is above its signal line since December 1, 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 BBY short-term trend chart] A short-term downtrend had started on March 22, 2024 at 83.36 and reached 78.37 on April 4, 2024. BBY lost 4.99 points, or 5.99%, in 13 days. Price is near the Fibonacci 23.6% retracement level. Daily Technical Indicators: [See BBY daily technical indicators chart] Daily technical indicators are neutral. During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal. 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.
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