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Advanced TA SearchArchive - 5/3/2024 - Sign In to see current Signals. |
Eversource (ES) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was a first positive week for the Eversource (ES). During the week, the ES climbed 0.55 points, or 0.92%, and closed at 60.01 on Friday, May 3, 2024. Weekly volume was 12% above average. ES is a member of Utilities Sector. Utilities is the 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 ES long-term trend chart] A long-term downtrend had started on December 14, 2022 at 87.71 and reached 52.03 on November 1, 2023. ES lost 35.68 points, or 40.68%, in 46 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (52.17) 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 ES medium-term trend chart] A medium-term uptrend had started on January 23, 2024 at 52.09 and reached 63.24 on May 2, 2024. ES gained -11.15 points, or -21.41%, in 14 weeks. The price is now at the 28.97% retracement level. Weekly Technical Indicators: [See ES weekly technical indicators chart] Weekly technical indicators are neutral. The weekly MACD line is above its signal line since November 17, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help. Short-term trend: [See ES short-term trend chart] A short-term uptrend had started on April 16, 2024 at 56.67 and reached 63.24 on May 2, 2024. ES gained -6.57 points, or -11.59%, in 16 days. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (59.83) 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 short-term trend. Daily Technical Indicators: [See ES daily technical indicators chart] Daily technical indicators are neutral. During the last week, daily 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 daily MACD line is above its signal line since April 19, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak. 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. The price is close to 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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