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Downtrend ExhaustionArchive
- 4/5/2024 -
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Campbell Soup (CPB) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the Campbell Soup (CPB). During the week, the CPB dropped -1.15 points, or -2.59%, and closed at 43.30 on Friday, April 5, 2024. It was the worst weekly loss since February 9, 2024. CPB was trading at average weekly trading volume.
 Long-term trend: [See CPB long-term trend chart]
A long-term uptrend had started on January 2, 2019 at 32.03 and reached 57.78 on December 28, 2022. CPB gained -25.75 points, or -80.39%, in 208 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend support line (46.39) 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 CPB medium-term trend chart]
A medium-term downtrend had started on December 28, 2022 at 57.78 and reached 37.94 on October 12, 2023. CPB lost 19.84 points, or 34.34%, in 41 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 29.68 and resistance is at 49.64. A Broadening Descending 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 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 CPB weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since November 3, 2023. 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 CPB short-term trend chart]
A short-term uptrend had started on March 15, 2024 at 41.73 and reached 44.96 on April 1, 2024. CPB gained -3.23 points, or -7.74%, in 17 days. The chart has formed a Rising Wedge chart pattern.
Daily Technical Indicators: [See CPB 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.
A Parabolic SAR (stop and reversal) indicator (43.08) comes close to the price (43.30). It indicates that the trend is getting weaker. 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.
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