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Archive
- 4/5/2024 -
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Roper Industries (ROP) Technical Analysis
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| Summary:
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| | It was the negative week for the Roper Industries (ROP). During the week, the ROP dropped -17.83 points, or -3.18%, and closed at 543.01 on Friday, April 5, 2024. It was the worst weekly loss since January 5, 2024. Weekly volume was 15% above average.
ROP is a member of Industrials Sector. Industrials 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 ROP long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 356.22 and reached 565.00 on April 1, 2024. ROP gained -208.78 points, or -58.61%, in 76 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 526.61 and resistance is at 552.76. 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 long-term trend.
 Medium-term trend: [See ROP medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 474.46 and reached 565.00 on April 1, 2024. ROP gained -90.54 points, or -19.08%, in 22 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See ROP weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since February 9, 2024. Use the following link to access a MACD help.
 Short-term trend: [See ROP short-term trend chart]
A short-term downtrend had started on April 1, 2024 at 565.00 and reached 536.87 on April 5, 2024. ROP lost 28.13 points, or 4.98%, in 4 days. Price is near the Fibonacci 23.6% retracement level.
 Daily Technical Indicators: [See ROP daily technical indicators chart]
Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily 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 links to access Lane's Stochastic and Williams' Percentage Range help.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
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 declined below 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 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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