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- 6/7/2024 -
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Ameriprise Financial (AMP) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Ameriprise Financial (AMP). During the week, the AMP dropped -9.98 points, or -2.29%, and closed at 426.63 on Friday, June 7, 2024. It was the worst weekly loss since April 12, 2024. Weekly volume was -18% below average.
AMP is a member of Financials Sector. Financials is the second 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 AMP long-term trend chart]
A long-term uptrend had started on November 21, 2008 at 11.74 and reached 442.79 on May 28, 2024. AMP gained -431.05 points, or -3671.64%, in 809 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (149.93) 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 long-term trend.
 Medium-term trend: [See AMP medium-term trend chart]
A medium-term uptrend had started on March 18, 2020 at 80.01 and reached 442.79 on May 28, 2024. AMP gained -362.78 points, or -453.42%, in 218 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (342.60) 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 AMP weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 19, 2024. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.
 Short-term trend: [See AMP short-term trend chart]
A short-term uptrend had started on October 25, 2023 at 306.63 and reached 442.79 on May 28, 2024. AMP gained -136.16 points, or -44.41%, in 216 days. The chart has formed a Ascending Triangle chart pattern. The trend support level is at 424.50 and resistance is at 443.25. An Ascending Triangle is a variation of triangle formation that has a flat resistance line and rising support line. The higher lows indicate an increasing demand and give the ascending triangle definitive bullish bias. An Ascending Triangle usually represents an accumulation stage in bullish market. An Ascending Triangle is considered to be a continuation pattern, especially in an uptrend, but it may also mark a reversal in a downtrend. Use the following link to access a Ascending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Ascending Triangle pattern in a short-term trend.
 Daily Technical Indicators: [See AMP daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and 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 and Williams' Percentage Range help.
The daily MACD line is below its signal line since May 28, 2024.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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.
Price is close to the 50 Day Moving Average. While 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.
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