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Williams' Percentage Range (W%R) |
Williams' %R is an effective momentum indicator that measures
overbought/oversold levels. Like other indicators, W%R ranges between 0% and
100% , but in opposite to the other indicators, the 0% indicating overbought and
100% - the oversold stocks. W%R measures the closing price in relation to the recent
low/high range. A bullish signal is generated when the W%R has reached 100,
five time bars have elapsed, and the W%R has subsequently fallen to 95. A
reverse signal is considered as bearish. For the sake of simplicity, the W%R
closed above 10% is considered bearish and below 90% - bullish. In trending
markets, the W%R stays at one end of the scale and gives false signals to
trade against the trend. That is why W%R is not considered a stand-along
technique, and it is essential to use it with some sort of trend formation
indicators. The divergence between price and W%R rarely occurs and presents an
important buy/sell signal. As our research shows, the W%R move to upper or lower
bounds can be used as an earliest signal of an impending reversal. Using the Williams %R bullish divergence/bearish divergence, chart patterns, trendlines, support, and resistance lines along with the W%R chart can be very useful.
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Advanced TA SearchArchive - 4/26/2024 - Sign In to see current Signals. |
AutoZone Inc. (AZO) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was the negative week for the AutoZone Inc. (AZO). During the week, the AZO dropped -39.56 points, or -1.33%, and closed at 2945.98 on Friday, April 26, 2024. Weekly volume was -7% below average. Long-term trend: [See AZO long-term trend chart] A long-term uptrend had started on July 20, 2017 at 491.13 and reached 3242.19 on March 22, 2024. AZO gained -2751.06 points, or -560.15%, in 348 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (971.18) 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 AZO medium-term trend chart] A medium-term uptrend had started on March 23, 2020 at 684.91 and reached 3242.19 on March 22, 2024. AZO gained -2557.28 points, or -373.37%, in 208 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 2783.40 and resistance is at 3227.10. 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 medium-term trend. Weekly Technical Indicators: [See AZO weekly technical indicators chart] Weekly technical indicators are neutral. The weekly MACD line is above its signal line since January 19, 2024. 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 AZO short-term trend chart] A short-term downtrend had started on March 22, 2024 at 3242.19 and reached 2851.42 on April 25, 2024. AZO lost 390.77 points, or 12.05%, in 34 days. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (2847.74) is broken. A broken support is considered to be a long-term bullish signal. 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 short-term trend. Daily Technical Indicators: [See AZO daily technical indicators chart] Daily technical indicators are neutral. The daily MACD line is below its signal line since March 25, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak. 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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