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Advanced TA SearchArchive
- 4/5/2024 -
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Quest Diagnostics (DGX) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the Quest Diagnostics (DGX). During the week, the DGX dropped -2.48 points, or -1.86%, and closed at 130.63 on Friday, April 5, 2024. It was the worst weekly loss since February 16, 2024. Weekly volume was 34% above average.
 Long-term trend: [See DGX long-term trend chart]
A long-term downtrend had started on December 31, 2021 at 174.16 and reached 119.59 on October 2, 2023. DGX lost 54.57 points, or 31.33%, in 91 weeks. The chart has formed a Descending Triangle chart pattern. The trend support level is at 119.19 and resistance is at 138.28. A Descending Triangle is a variation of triangle formation that has a flat support line and falling resistance line. The lower highs indicate the decreasing demand and give the descending triangle definitive bearish bias. A Descending Triangle usually represents a distribution stage in bearish market. A Descending Triangle is considered to be a continuation pattern, especially in a down trend, but it may also mark a reversal in an uptrend. Use the following link to access a Descending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Descending Triangle pattern in a long-term trend.
 Medium-term trend: [See DGX medium-term trend chart]
A medium-term uptrend had started on February 1, 2024 at 123.04 and reached 135.45 on April 1, 2024. DGX gained -12.41 points, or -10.09%, in 8 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 125.98 and resistance is at 131.68. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See DGX weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help.
 Short-term trend: [See DGX short-term trend chart]
A short-term uptrend had started on March 14, 2024 at 125.09 and reached 135.45 on April 1, 2024. DGX gained -10.36 points, or -8.28%, in 18 days. The chart has formed a Broadening Ascending Wedge chart pattern.
Daily Technical Indicators: [See DGX daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily 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 link to access Lane's Stochastic help.
The daily MACD line is above its signal line since February 20, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
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