The Greedy Trader Weekly Analysis
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Ametek (AME)

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Summary:
Weekly :Overbought sectorBroken trend support lineBroken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is strongly overbought
Daily :Williams' Percentage Range is strongly overbought20 Day Moving Average has crossed above the 50 Day Moving Average
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It was a fifth consecutive positive week for the Ametek (AME). During the week, the AME gained 1.54 points, or 1.13%, and closed at 137.83 on Friday, July 23, 2021. AME was trading at average weekly trading volume.

AME 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 AME long-term trend chart]
A long-term uptrend had started on March 18, 2020 at 54.82 and reached 139.07 on May 10, 2021. AME gained -84.25 points, or -153.68%, in 59 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (139.62) is broken. A broken support is considered to be a long-term bearish 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 support in a long-term trend.

Medium-term trend: [See AME medium-term trend chart]
A medium-term uptrend had started on May 19, 2021 at 129.67 and reached 138.10 on June 7, 2021. AME gained -8.43 points, or -6.50%, in 2 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (132.06) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 medium-term trend.

Weekly Technical Indicators: [See AME weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought 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.

The weekly MACD line is below its signal line since June 11, 2021. Use the following link to access a MACD help.

Short-term trend: [See AME short-term trend chart]
A short-term uptrend had started on June 18, 2021 at 130.55 and reached 138.10 on July 23, 2021. AME gained -7.55 points, or -5.78%, in 35 days. The chart has formed a Broadening Ascending Wedge chart pattern.

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

The daily MACD line is above its signal line since July 8, 2021. This is an indication that the short-term trend is up.

During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 56.98
Williams' Percentage Range (W%R) 1.70
Strong Overbought
Lane's Stochastic (%D-Slow) 77.23
Greed/Fear Indicator (GFI) 77.51
Moving Average Converg./Diverg. (MACD) 0.37
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 58.93
Williams' Percentage Range (W%R) 5.20
Strong Overbought
Lane's Stochastic (%D-Slow) 54.50
Greed/Fear Indicator (GFI) 67.10
Moving Average Converg./Diverg. (MACD) 5.67
Trading Signals
Description Value Chart
Monthly Trendline Resistance 147.28
Monthly Trendline Support 139.62
Upper Bollinger Band 138.53
Price 137.83
Daily Stochastic Crossing 137.46
Weekly Stochastic Crossing 135.03
20 Day Moving Average 134.95
50 Day Moving Average 134.69
Weekly Trendline Resistance 133.60
Lower Bollinger Band 132.33
Weekly Trendline Support 132.06
Parabolic System 131.89
Sector and Industry
Description Name Rank
Sector Industrials 9
Industry Electrical Components & Equipment 114
Daily Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Low 130.55
Low Date 06/18/2021
High 138.10
High Date 07/23/2021
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 133.60
Support 132.06
Low 129.67
Low Date 05/19/2021
High 138.10
High Date 06/07/2021
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 147.28
Support 139.62
Low 54.82
Low Date 03/18/2020
High 139.07
High Date 05/10/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 42.82
Low Date 02/05/2016
High 139.07
High Date 05/10/2021
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 2.30
Low Date 03/14/2000
High 139.07
High Date 05/10/2021
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.

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