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Downtrend Broken Resist.Archive
- 4/5/2024 -
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Vulcan Materials (VMC) Technical Analysis
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| Summary:
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| | It was the negative week for the Vulcan Materials (VMC). During the week, the VMC dropped -2.77 points, or -1.01%, and closed at 270.15 on Friday, April 5, 2024. It was the worst weekly loss since January 26, 2024. Weekly volume was -19% below average.
VMC is a member of Materials Sector. Materials 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 VMC long-term trend chart]
A long-term uptrend had started on July 5, 2022 at 137.54 and reached 276.58 on March 27, 2024. VMC gained -139.04 points, or -101.09%, in 90 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (275.02). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.
 Medium-term trend: [See VMC medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 190.51 and reached 276.58 on March 27, 2024. VMC gained -86.07 points, or -45.18%, in 21 weeks. The price is now at the 7.47% retracement level.
 Weekly Technical Indicators: [See VMC weekly technical indicators chart]
Weekly Relative Strength Index and Williams' Percentage Range are overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Williams' Percentage Range or strongly overbought weekly 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 December 15, 2023. 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 VMC short-term trend chart]
A short-term downtrend had started on March 27, 2024 at 276.58 and reached 264.16 on April 2, 2024. VMC lost 12.42 points, or 4.49%, in 6 days. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend resistance line (253.26) is broken. A broken support is considered to be a long-term bullish 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 resistance line in a short-term trend.
 Daily Technical Indicators: [See VMC daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since March 8, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.
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.
The distance between the Bollinger Bands is falling, and it was 4.35% on Friday. It is 52.84% lower than one year average. It indicates the period of low volatility of the stock price. 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.
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