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Archive - 4/5/2024 - Sign In to see current Signals. |
CME Group Inc. (CME) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was the negative week for the CME Group Inc. (CME). During the week, the CME dropped -4.21 points, or -1.96%, and closed at 211.08 on Friday, April 5, 2024. Weekly volume was 6% above average. CME 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 CME long-term trend chart] A long-term uptrend had started on January 3, 2023 at 166.55 and reached 223.80 on December 4, 2023. CME gained -57.25 points, or -34.37%, in 47 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 201.58 and resistance is at 237.72. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend. Medium-term trend: [See CME medium-term trend chart] A medium-term uptrend had started on January 11, 2024 at 195.54 and reached 222.63 on February 29, 2024. CME gained -27.09 points, or -13.85%, in 7 weeks. The price is now at the 42.64% retracement level. Weekly Technical Indicators: [See CME 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 CME short-term trend chart] A short-term downtrend had started on February 29, 2024 at 222.63 and reached 210.80 on April 5, 2024. CME lost 11.83 points, or 5.31%, in 36 days. Price is near the trend low. Daily Technical Indicators: [See CME daily technical indicators chart] Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold 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 link to access Williams' Percentage Range help. The daily MACD line is below its signal line since March 6, 2024. This is an indication that the short-term trend is down. During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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.
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