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Advanced TA SearchArchive
- 5/3/2024 -
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A.O. Smith (AOS) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week after 4 consecutive negative weeks for the A.O. Smith (AOS). During the week, the AOS gained 1.10 points, or 1.32%, and closed at 84.31 on Friday, May 3, 2024. It was the best weekly gain since March 22, 2024. Weekly volume was 13% above average.
 Long-term trend: [See AOS long-term trend chart]
A long-term uptrend had started on September 25, 2023 at 64.14 and reached 89.96 on March 21, 2024. AOS gained -25.82 points, or -40.26%, in 25 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend support (85.01) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a long-term trend.
 Medium-term trend: [See AOS medium-term trend chart]
A medium-term downtrend had started on March 21, 2024 at 89.96 and reached 80.64 on April 25, 2024. AOS lost 9.32 points, or 10.36%, in 5 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 78.52 and resistance is at 89.01. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See AOS weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 19, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See AOS short-term trend chart]
A short-term uptrend had started on April 25, 2024 at 80.64 and reached 84.94 on April 30, 2024. AOS gained -4.30 points, or -5.33%, in 5 days. The price is now at the 14.65% retracement level.
Daily Technical Indicators: [See AOS daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since April 1, 2024.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. 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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