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Advanced TA SearchArchive
- 5/3/2024 -
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Evergy (EVRG) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the Evergy (EVRG). During the week, the EVRG gained 2.41 points, or 4.66%, and closed at 54.10 on Friday, May 3, 2024. It was the best weekly gain since March 8, 2024. EVRG was trading at average weekly trading volume.
EVRG 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 EVRG long-term trend chart]
A long-term downtrend had started on April 21, 2022 at 73.13 and reached 46.92 on October 6, 2023. EVRG lost 26.21 points, or 35.84%, in 76 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (38.97) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. EVRG may retest the broken resistance line. It is considered to be a support 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 resistance line in a long-term trend.
 Medium-term trend: [See EVRG medium-term trend chart]
A medium-term uptrend had started on February 8, 2024 at 48.04 and reached 54.19 on May 3, 2024. EVRG gained -6.15 points, or -12.80%, in 12 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 49.99 and resistance is at 56.51. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See EVRG weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. 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 Williams' Percentage Range help.
The weekly MACD line is above its signal line since November 24, 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 EVRG short-term trend chart]
A short-term uptrend had started on April 24, 2024 at 51.49 and reached 54.19 on May 3, 2024. EVRG gained -2.70 points, or -5.24%, in 9 days. Price is near the trend high.
 Daily Technical Indicators: [See EVRG daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic. Use the following link to access Lane's Stochastic help.
The daily MACD line is above its signal line since April 23, 2024. This is an indication that the short-term trend is up.
During the last week, the price has moved above 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.
 Candlestick pattern: [See EVRG candlestick chart pattern]
On Friday the chart has formed a Bearish Deliberation Candlestick pattern. This pattern occurs in an uptrend;it appears after a sustained upward move and suggests that the rally is losing strength and a reversal is possible. The reliability of the Bearish Deliberation pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Deliberation Candlestick pattern during the last week.
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