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Advanced TA SearchArchive
- 4/19/2024 -
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Ametek (AME) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Ametek (AME). During the week, the AME dropped -2.01 points, or -1.12%, and closed at 177.70 on Friday, April 19, 2024. Weekly volume was -10% below average.
AME is a member of Industrials Sector. Industrials 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 AME long-term trend chart]
A long-term uptrend had started on June 17, 2022 at 106.20 and reached 186.33 on March 21, 2024. AME gained -80.13 points, or -75.45%, in 91 weeks. The price is now at the 10.77% retracement level.
 Medium-term trend: [See AME medium-term trend chart]
A medium-term uptrend had started on October 31, 2023 at 136.89 and reached 186.33 on March 21, 2024. AME gained -49.44 points, or -36.12%, in 20 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (195.10) 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. AME 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 AME weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. 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 weekly MACD line is above its signal line since December 1, 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 AME short-term trend chart]
A short-term downtrend had started on April 8, 2024 at 182.99 and reached 176.71 on April 18, 2024. AME lost 6.28 points, or 3.43%, in 10 days. The price is now at the 15.76% retracement level.
 Daily Technical Indicators: [See AME 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. Daily Lane's Stochastic and MACD have bullish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since March 8, 2024. This is an indication that the short-term trend is down.
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.
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