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Uptrend ExhaustionArchive
- 4/5/2024 -
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Northern Trust Corp. (NTRS) Technical Analysis
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| Summary:
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| | It was the negative week for the Northern Trust Corp. (NTRS). During the week, the NTRS dropped -2.14 points, or -2.41%, and closed at 86.78 on Friday, April 5, 2024. It was the worst weekly loss since January 19, 2024. Weekly volume was -10% below average.
NTRS 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 NTRS long-term trend chart]
A long-term downtrend had started on January 13, 2022 at 135.15 and reached 62.44 on October 25, 2023. NTRS lost 72.71 points, or 53.80%, in 92 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (56.79) 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 NTRS medium-term trend chart]
A medium-term uptrend had started on October 25, 2023 at 62.44 and reached 89.25 on March 28, 2024. NTRS gained -26.81 points, or -42.94%, in 22 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend resistance line (82.49) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 medium-term trend.
 Weekly Technical Indicators: [See NTRS weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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.
The weekly MACD line is above its signal line since November 10, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See NTRS short-term trend chart]
A short-term uptrend had started on March 14, 2024 at 79.30 and reached 89.25 on March 28, 2024. NTRS gained -9.95 points, or -12.55%, in 14 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See NTRS daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Use the following link to access Lane's Stochastic help.
The daily MACD line is above its signal line since March 19, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
 Candlestick pattern: [See NTRS candlestick chart pattern]
On Friday the chart has formed a Bearish Thrusting Candlestick pattern. This pattern occurs in a downtrend and it shows a rally failure in a down market. This is a weak continuation pattern. The reliability of the Bearish Thrusting pattern is low. Use the Technical Stock Screener to see the list of stocks that had a Bearish Thrusting Candlestick pattern during the last week.
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