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- 3/15/2024 -
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State Street Corp. (STT) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken trend support line
Daily :Daily  MACD line has moved below its signal lineWilliams' Percentage Range is oversoldPrice is near the Fibonacci 38.2% retracement levelThe Bollinger Bands are historically close together
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It was a first positive week for the State Street Corp. (STT). During the week, the STT climbed 0.07 points, or 0.10%, and closed at 72.50 on Friday, March 15, 2024. Weekly volume was -21% below average.

STT is a member of Financials Sector. Financials 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 STT long-term trend chart]
A long-term downtrend had started on January 13, 2022 at 104.87 and reached 58.62 on October 13, 2022. STT lost 46.25 points, or 44.10%, in 39 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 64.29 and resistance is at 84.61. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend.

Medium-term trend: [See STT medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 62.78 and reached 79.90 on January 19, 2024. STT gained -17.12 points, or -27.27%, in 12 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (72.87) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. STT may retest the broken support line. It is considered to be a resistance 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 support in a medium-term trend.

Weekly Technical Indicators: [See STT weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since February 23, 2024. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.

Short-term trend: [See STT short-term trend chart]
A short-term downtrend had started on March 4, 2024 at 74.95 and reached 71.05 on March 15, 2024. STT lost 3.90 points, or 5.20%, in 11 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See STT daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold 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 link to access Williams' Percentage Range help.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

The distance between the Bollinger Bands (3.92%) is close to one year low (3.61%). It is 66.78% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 47.69
Williams' Percentage Range (W%R) 95.30
Strong Oversold
Lane's Stochastic (%D-Slow) 35.30
Greed/Fear Indicator (GFI) 29.21
Moving Average Converg./Diverg. (MACD) -0.28
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 44.63
Williams' Percentage Range (W%R) 51.70
Lane's Stochastic (%D-Slow) 23.33
Greed/Fear Indicator (GFI) 38.54
Moving Average Converg./Diverg. (MACD) 0.69
Trading Signals
Description Value Chart
Yearly Trendline Resistance 84.61
Upper Bollinger Band 74.29
Parabolic System 74.05
50 Day Moving Average 73.85
Quarterly Trendline Resistance 73.46
Quarterly Trendline Support 72.87
Weekly Stochastic Crossing 72.82
20 Day Moving Average 72.82
Price 72.50
Daily Stochastic Crossing 71.92
Lower Bollinger Band 71.45
Yearly Trendline Support 64.29
Sector and Industry
Description Name Rank
Sector Financials 11
Industry Asset Management & Custody Banks 41
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 73.91
High Date 03/12/2024
Low 71.05
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 74.95
High Date 03/04/2024
Low 71.05
Low Date 03/15/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 79.90
High Date 01/19/2024
Low 70.53
Low Date 02/13/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 73.46
Support 72.87
Low 62.78
Low Date 10/27/2023
High 79.90
High Date 01/19/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Valid
Resistance 84.61
Support 64.29
High 104.87
High Date 01/13/2022
Low 58.62
Low Date 10/13/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.