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Archive
- 4/5/2024 -
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STERIS plc (STE) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the STERIS plc (STE). During the week, the STE dropped -11.34 points, or -5.04%, and closed at 213.48 on Friday, April 5, 2024. It was the worst weekly loss since November 10, 2023. STE was trading at average weekly trading volume.
 Long-term trend: [See STE long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 159.21 and reached 254.00 on August 2, 2023. STE gained -94.79 points, or -59.54%, in 41 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (206.58) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a long-term trend.
 Medium-term trend: [See STE medium-term trend chart]
A medium-term uptrend had started on November 30, 2023 at 195.47 and reached 238.51 on February 23, 2024. STE gained -43.04 points, or -22.02%, in 12 weeks. The price is now at the 58.16% retracement level.
 Weekly Technical Indicators: [See STE weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.
 Short-term trend: [See STE short-term trend chart]
A short-term downtrend had started on February 23, 2024 at 238.51 and reached 212.96 on April 5, 2024. STE lost 25.55 points, or 10.71%, in 42 days. The chart has formed a Falling Channel chart pattern.
 Daily Technical Indicators: [See STE daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold 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.
The daily MACD line is below its signal line since February 29, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. 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.
 Candlestick pattern: [See STE candlestick chart pattern]
On Friday the chart has formed a Bullish Homing Pigeon Candlestick pattern. A Bullish Homing Pigeon pattern occurs in a downtrend. Market usually has a tendency to enter into a congestion phase following a Homing Pigeon pattern.The reliability of the Bullish Homing Pigeon is medium. Use the Technical Stock Screener to see the list of stocks that had a Bullish Homing Pigeon Candlestick pattern during the last week.
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