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Downtrend ResistanceArchive
- 4/5/2024 -
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UNM Group (UNM) Technical Analysis
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| Summary:
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| | It was a fifth consecutive positive week for the UNM Group (UNM). During the week, the UNM climbed 0.07 points, or 0.13%, and closed at 53.73 on Friday, April 5, 2024. Weekly volume was -21% below average.
UNM 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 UNM long-term trend chart]
A long-term uptrend had started on March 23, 2020 at 9.58 and reached 54.57 on April 3, 2024. UNM gained -44.99 points, or -469.62%, in 210 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 43.62 and resistance is at 56.10. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.
Medium-term trend: [See UNM medium-term trend chart]
A medium-term uptrend had started on February 1, 2024 at 46.39 and reached 54.57 on April 3, 2024. UNM gained -8.18 points, or -17.63%, in 8 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 53.25 and resistance is at 54.94. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.
 Weekly Technical Indicators: [See UNM weekly technical indicators chart]
Weekly Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. During the last week, weekly 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 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 26, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.
 Short-term trend: [See UNM short-term trend chart]
A short-term downtrend had started on April 3, 2024 at 54.57 and reached 53.31 on April 4, 2024. UNM lost 1.26 points, or 2.31%, in 1 days. The price is now at the 33.33% retracement level.
 Daily Technical Indicators: [See UNM 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 main line (%K) has declined below the overbought signal line (%D). 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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