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Downtrend Broken Resist.Archive
- 4/5/2024 -
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Textron Inc. (TXT) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a seventh consecutive positive week for the Textron Inc. (TXT). During the week, the TXT climbed 0.72 points, or 0.75%, and closed at 96.65 on Friday, April 5, 2024. Weekly volume was -12% below average.
TXT 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 TXT long-term trend chart]
A long-term uptrend had started on May 31, 2023 at 61.27 and reached 96.80 on March 27, 2024. TXT gained -35.53 points, or -57.99%, in 43 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (82.65) 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 long-term trend.
 Medium-term trend: [See TXT medium-term trend chart]
A medium-term uptrend had started on November 29, 2023 at 74.13 and reached 96.80 on March 27, 2024. TXT gained -22.67 points, or -30.58%, in 17 weeks. Price is near the trend high.
 Weekly Technical Indicators: [See TXT weekly technical indicators chart]
Weekly Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index or strongly overbought weekly 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, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is above its signal line since January 19, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
 Short-term trend: [See TXT short-term trend chart]
A short-term uptrend had started on January 17, 2024 at 76.98 and reached 96.80 on March 27, 2024. TXT gained -19.82 points, or -25.75%, in 70 days. The chart has formed a Rising Channel chart pattern.
 Daily Technical Indicators: [See TXT daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.
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.
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