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Advanced TA SearchArchive
- 4/19/2024 -
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Eversource (ES) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a second consecutive positive week for the Eversource (ES). During the week, the ES gained 0.90 points, or 1.53%, and closed at 59.69 on Friday, April 19, 2024. Weekly volume was -15% below average.
ES is a member of Utilities Sector. Utilities 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 ES long-term trend chart]
A long-term downtrend had started on December 14, 2022 at 87.71 and reached 52.03 on November 1, 2023. ES lost 35.68 points, or 40.68%, in 46 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (47.11) is broken. A broken support is considered to be a long-term bullish signal. 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 long-term trend.
 Medium-term trend: [See ES medium-term trend chart]
A medium-term downtrend had started on January 3, 2024 at 64.64 and reached 52.09 on January 23, 2024. ES lost 12.55 points, or 19.42%, in 2 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (57.73) is broken. A broken support is considered to be a long-term bullish signal. 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 ES weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since November 17, 2023. Use the following link to access a MACD help.
 Short-term trend: [See ES short-term trend chart]
A short-term downtrend had started on April 9, 2024 at 60.44 and reached 56.67 on April 16, 2024. ES lost 3.77 points, or 6.24%, in 7 days. The price is now at the 80.11% retracement level.
Daily Technical Indicators: [See ES daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since April 11, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.
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.
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.
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