The Greedy Trader Weekly Analysis
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Ametek (AME)

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Summary:
Weekly :Williams' Percentage Range and Lane's Stochastic are overboughtStochastic has declined below the signal lineMACD bearish divergence
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARThe price has declined below the moving average in the center of the Bollinger BandsPrice is close to the 50 Day Moving Average
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It was the negative week for the Ametek (AME). During the week, the AME dropped -4.54 points, or -3.67%, and closed at 119.00 on Friday, January 15, 2021. It was the worst weekly loss since October 30, 2020. Weekly volume was -47% below average.

Long-term trend: [See AME long-term trend chart]
A long-term uptrend had started on February 5, 2016 at 42.82 and reached 125.81 on January 7, 2021. AME gained -82.99 points, or -193.81%, in 256 weeks. The price is now at the 8.21% retracement level.

Medium-term trend: [See AME medium-term trend chart]
A medium-term uptrend had started on March 18, 2020 at 54.82 and reached 125.81 on January 7, 2021. AME gained -70.99 points, or -129.50%, in 42 weeks. The price is now at the 9.59% retracement level.

Weekly Technical Indicators: [See AME weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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 weekly MACD line is above its signal line since May 15, 2020. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 December 3, 2020 at 114.24 and reached 125.81 on January 7, 2021. AME gained -11.57 points, or -10.13%, in 35 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 115.18 and resistance is at 128.10. 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 short-term trend.

Daily Technical Indicators: [See AME daily technical indicators chart]
Daily technical indicators are neutral.

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.

Price is close to the 50 Day Moving Average. 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) 49.82
Williams' Percentage Range (W%R) 54.50
Lane's Stochastic (%D-Slow) 53.11
Greed/Fear Indicator (GFI) 49.49
Moving Average Converg./Diverg. (MACD) 1.60
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 61.89
Williams' Percentage Range (W%R) 19.70
Overbought
Lane's Stochastic (%D-Slow) 83.89
Overbought
Greed/Fear Indicator (GFI) 73.44
Moving Average Converg./Diverg. (MACD) 6.45 Bearish
Trading Signals
Description Value Chart
Weekly Trendline Resistance 128.10
Parabolic System 125.17
Upper Bollinger Band 125.16
Weekly Stochastic Crossing 123.97
Daily Stochastic Crossing 121.04
20 Day Moving Average 120.38
Price 119.00
50 Day Moving Average 118.19
Lower Bollinger Band 115.70
Weekly Trendline Support 115.18
Sector and Industry
Description Name Rank
Sector Industrials 5
Industry Electrical Components & Equipment 77
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 125.81
High Date 01/07/2021
Low 116.90
Low Date 01/15/2021
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 128.10
Support 115.18
Low 114.24
Low Date 12/03/2020
High 125.81
High Date 01/07/2021
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 54.82
Low Date 03/18/2020
High 125.81
High Date 01/07/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 42.82
Low Date 02/05/2016
High 125.81
High Date 01/07/2021
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 2.30
Low Date 03/14/2000
High 125.81
High Date 01/07/2021
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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