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Uptrend Broken SupportArchive
- 4/5/2024 -
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Stanley Works (SWK) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the Stanley Works (SWK). During the week, the SWK dropped -2.52 points, or -2.57%, and closed at 95.41 on Friday, April 5, 2024. Weekly volume was -23% below average.
SWK 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 SWK long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 70.24 and reached 104.21 on August 1, 2023. SWK gained -33.97 points, or -48.36%, in 41 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Medium-term trend: [See SWK medium-term trend chart]
A medium-term uptrend had started on February 13, 2024 at 86.16 and reached 98.28 on March 28, 2024. SWK gained -12.12 points, or -14.07%, in 6 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 87.63 and resistance is at 100.07. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See SWK weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help.
 Short-term trend: [See SWK short-term trend chart]
A short-term downtrend had started on March 28, 2024 at 98.28 and reached 93.86 on April 2, 2024. SWK lost 4.42 points, or 4.50%, in 5 days. The price is now at the 35.07% retracement level.
Daily Technical Indicators: [See SWK 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. 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 Lane's Stochastic help.
The daily MACD line is above its signal line since March 18, 2024. The distance between MACD and the signal line is low and getting smaller.
A Parabolic SAR (stop and reversal) indicator (94.48) comes close to the price (95.41). 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.
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