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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 - 3/15/2024 - Sign In to see current Signals. |
Cadence Design Systems (CDNS) Technical Analysis
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| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was the negative week for the Cadence Design Systems (CDNS). During the week, the CDNS dropped -10.16 points, or -3.29%, and closed at 298.44 on Friday, March 15, 2024. Weekly volume was -7% below average. CDNS is a member of Information Technology Sector. Information Technology 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 CDNS long-term trend chart] A long-term downtrend had started on December 28, 2021 at 192.70 and reached 132.32 on May 12, 2022. CDNS lost 60.38 points, or 31.33%, in 19 weeks. The chart has formed a Rising Wedge chart pattern. The downtrend resistance line (156.71) 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 long-term trend. Medium-term trend: [See CDNS medium-term trend chart] A medium-term uptrend had started on November 4, 2022 at 138.76 and reached 320.78 on March 4, 2024. CDNS gained -182.02 points, or -131.18%, in 69 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 270.83 and resistance is at 302.87. 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 CDNS weekly technical indicators chart] Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. 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 links to access Lane's Stochastic and Williams' Percentage Range help. The weekly MACD line is above its signal line since January 12, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help. Short-term trend: [See CDNS short-term trend chart] A short-term downtrend had started on March 4, 2024 at 320.78 and reached 298.11 on March 15, 2024. CDNS lost 22.67 points, or 7.07%, in 11 days. Price is near the trend low. Daily Technical Indicators: [See CDNS daily technical indicators chart] Daily technical indicators are neutral. 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. 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.
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