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Archive
- 5/10/2019
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Omnicom Group |
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| Summary:
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| | It was the negative week for the Omnicom Group (OMC). During the week, the OMC gave back -0.49 points, or -0.61%, and closed at 79.55 on Friday, May 10, 2019. Weekly volume was -24% below average.
 Long-term trend: [See OMC long-term trend chart]
A long-term downtrend had started on December 13, 2016 at 89.66 and reached 65.32 on November 8, 2017. OMC lost 24.34 points, or 27.15%, in 47 weeks. The chart has formed a Ascending Triangle chart pattern. The downtrend resistance line (66.21) 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 OMC medium-term trend chart]
A medium-term uptrend had started on September 28, 2018 at 65.85 and reached 84.35 on April 18, 2019. OMC gained -18.50 points, or -28.09%, in 28 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 75.04 and resistance is at 80.01. 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 OMC weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since April 12, 2019. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See OMC short-term trend chart]
A short-term uptrend had started on February 12, 2019 at 71.75 and reached 84.35 on April 18, 2019. OMC gained -12.60 points, or -17.56%, in 65 days. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The trend support level is at 72.49 and resistance is at 87.36. 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 Right-Angled, Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Ascending Wedge pattern in a short-term trend.
Daily Technical Indicators: [See OMC daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since April 30, 2019. The distance between MACD and the signal line is low, but getting bigger.
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