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- 4/19/2024 -
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Edwards Lifesciences (EW) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the Edwards Lifesciences (EW). During the week, the EW dropped -4.34 points, or -4.81%, and closed at 85.94 on Friday, April 19, 2024. Weekly volume was -15% below average.
 Long-term trend: [See EW long-term trend chart]
A long-term downtrend had started on December 30, 2021 at 131.73 and reached 60.57 on October 30, 2023. EW lost 71.16 points, or 54.02%, in 95 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (57.40) 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 EW medium-term trend chart]
A medium-term uptrend had started on October 30, 2023 at 60.57 and reached 96.12 on March 28, 2024. EW gained -35.55 points, or -58.69%, in 21 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (89.50) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. EW may retest the broken support line. It is considered to be a resistance 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 support in a medium-term trend.
 Weekly Technical Indicators: [See EW weekly technical indicators chart]
Weekly technical indicators are neutral. 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 link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since December 8, 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 EW short-term trend chart]
A short-term downtrend had started on April 9, 2024 at 93.11 and reached 85.38 on April 19, 2024. EW lost 7.73 points, or 8.30%, in 10 days. The price is now at the 7.24% retracement level.
 Daily Technical Indicators: [See EW daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since March 22, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.
During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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.
 Candlestick pattern: [See EW candlestick chart pattern]
On Friday the chart has formed a Bearish Three Black Crows Candlestick pattern. Use the Technical Stock Screener to see the list of stocks that had a Bearish Three Black Crows Candlestick pattern during the last week.
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