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|It was a second positive week after 3 consecutive negative weeks for the Emerson Electric (EMR). During the week, the EMR gained 3.06 points, or 4.97%, and closed at 64.69 on Friday, December 01, 2017. Weekly volume was 41% above average. |
EMR is a member of Industrial Goods Sector. Industrial Goods 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 EMR long-term trend chart]
A long-term uptrend had started on May 2, 2017 at 56.77 and reached 67.79 on October 27, 2017. EMR gained -11.02 points, or -19.41%, in 25 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 58.81 and resistance is at 69.43. 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 EMR medium-term trend chart]
A medium-term downtrend had started on October 27, 2017 at 67.79 and reached 57.47 on November 16, 2017. EMR lost 10.32 points, or 15.22%, in 2 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (52.73) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. EMR may retest the broken resistance line. It is considered to be a support 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 resistance line in a medium-term trend.
Weekly Technical Indicators: [See EMR weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since November 10, 2017. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.
Short-term trend: [See EMR short-term trend chart]
A short-term uptrend had started on November 16, 2017 at 57.47 and reached 65.30 on December 1, 2017. EMR gained -7.83 points, or -13.62%, in 15 days. The price is now at the 7.79% retracement level.
Daily Technical Indicators: [See EMR daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and 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 links to access Lane's Stochastic and Williams' Percentage Range help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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 price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance 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.