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Archive
- 4/5/2024 -
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ResMed (RMD) Technical Analysis
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| Summary:
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| | It was the negative week for the ResMed (RMD). During the week, the RMD dropped -9.27 points, or -4.68%, and closed at 188.76 on Friday, April 5, 2024. Weekly volume was 7% above average.
 Long-term trend: [See RMD long-term trend chart]
A long-term downtrend had started on September 9, 2021 at 301.34 and reached 132.26 on October 27, 2023. RMD lost 169.08 points, or 56.11%, in 111 weeks. The chart has formed a Ascending Triangle chart pattern. The trend support level is at 181.37 and resistance is at 198.62. An Ascending Triangle is a variation of triangle formation that has a flat resistance line and rising support line. The higher lows indicate an increasing demand and give the ascending triangle definitive bullish bias. An Ascending Triangle usually represents an accumulation stage in bullish market. An Ascending Triangle is considered to be a continuation pattern, especially in an uptrend, but it may also mark a reversal in a downtrend. Use the following link to access a Ascending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Ascending Triangle pattern in a long-term trend.
Medium-term trend: [See RMD medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 132.26 and reached 198.54 on March 28, 2024. RMD gained -66.28 points, or -50.11%, in 21 weeks. The chart has formed a Ascending Triangle chart pattern. The trend support level is at 181.37 and resistance is at 198.62. Use the following link to access a Ascending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Ascending Triangle pattern in a medium-term trend.
 Weekly Technical Indicators: [See RMD weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since November 17, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See RMD short-term trend chart]
A short-term uptrend had started on April 2, 2024 at 182.29 and reached 189.56 on April 5, 2024. RMD gained -7.27 points, or -3.99%, in 3 days. The price is now at the 11.00% retracement level.
 Daily Technical Indicators: [See RMD daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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.
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. While daily technical indicators are oversold, the 50 Day Moving Average is considered a support 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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