|
|
Uptrend ExhaustionArchive
- 4/5/2024 -
Sign In to see current Signals. |
M&T Bank Corp. (MTB) Technical Analysis
|
 |
| Summary:
| | Weekly :   | | Daily :
Move cursor over the icon to see details.
| | It was the negative week for the M&T Bank Corp. (MTB). During the week, the MTB dropped -6.73 points, or -4.63%, and closed at 138.71 on Friday, April 5, 2024. It was the worst weekly loss since February 2, 2024. Weekly volume was -18% below average.
MTB is a member of Financials Sector. Financials 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 MTB long-term trend chart]
A long-term downtrend had started on August 16, 2022 at 193.42 and reached 108.53 on October 27, 2023. MTB lost 84.89 points, or 43.89%, in 62 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (107.79) 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 long-term trend.
 Medium-term trend: [See MTB medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 108.53 and reached 148.23 on December 14, 2023. MTB gained -39.70 points, or -36.58%, in 6 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend support line (144.37) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. MTB may retest the broken support line. It is considered to be a resistance line now. 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 medium-term trend.
 Weekly Technical Indicators: [See MTB 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. 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 MTB short-term trend chart]
A short-term downtrend had started on March 28, 2024 at 146.21 and reached 137.10 on April 5, 2024. MTB lost 9.11 points, or 6.23%, in 8 days. The price is now at the 17.67% retracement level.
 Daily Technical Indicators: [See MTB daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range. 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 link to access 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 distance between the Bollinger Bands (6.14%) is close to one year low (5.75%). It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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.
During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and 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.
| |
|
|