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Archive
- 5/10/2024 -
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Vanguard Information Technology ETF (VGT) Technical Analysis
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| Summary:
| | | Weekly : | | Daily :
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| | It was a third positive week after 4 consecutive negative weeks for the Vanguard Information Technology ETF (VGT). During the week, the VGT gained 6.80 points, or 1.33%, and closed at 516.26 on Friday, May 10, 2024. Weekly volume was -48% below average.
 Long-term trend: [See VGT long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 291.61 and reached 536.63 on March 8, 2024. VGT gained -245.02 points, or -84.02%, in 73 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 453.08 and resistance is at 568.35. 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See VGT medium-term trend chart]
A medium-term downtrend had started on March 8, 2024 at 536.63 and reached 478.25 on April 19, 2024. VGT lost 58.38 points, or 10.88%, in 6 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 455.76 and resistance is at 523.58. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See VGT weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 5, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
 Short-term trend: [See VGT short-term trend chart]
A short-term uptrend had started on April 19, 2024 at 478.25 and reached 520.17 on May 10, 2024. VGT gained -41.92 points, or -8.77%, in 21 days. The price is now at the 9.33% retracement level.
 Daily Technical Indicators: [See VGT daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought 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 above its signal line since May 2, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.
During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance 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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