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Advanced TA SearchArchive - 5/10/2024 - Sign In to see current Signals. |
Helmerich & Payne (HP) 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 Helmerich & Payne (HP). During the week, the HP climbed 0.27 points, or 0.70%, and closed at 38.75 on Friday, May 10, 2024. Weekly volume was -28% below average. HP is a member of Energy Sector. Energy 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 HP long-term trend chart] A long-term downtrend had started on June 8, 2022 at 54.59 and reached 30.41 on May 11, 2023. HP lost 24.18 points, or 44.29%, in 48 weeks. The price is now at the 34.49% retracement level. Medium-term trend: [See HP medium-term trend chart] A medium-term uptrend had started on January 17, 2024 at 32.17 and reached 44.11 on April 8, 2024. HP gained -11.94 points, or -37.12%, in 11 weeks. The price is now at the 44.89% retracement level. Weekly Technical Indicators: [See HP weekly technical indicators chart] Weekly technical indicators are neutral. The weekly MACD line is above its signal line since February 9, 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 HP short-term trend chart] A short-term downtrend had started on April 8, 2024 at 44.11 and reached 37.71 on May 2, 2024. HP lost 6.40 points, or 14.51%, in 24 days. The price is now at the 16.25% retracement level. Daily Technical Indicators: [See HP daily technical indicators chart] Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish 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 below its signal line since April 10, 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 price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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 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. Candlestick pattern: [See HP candlestick chart pattern] On Friday the chart has formed a Bearish Dark Cloud Cover Candlestick pattern. Bearish Dark Cloud Cover pattern is a trend reversal indicator which signifies the end of an uptrend and the start of a downtrend. The reliability of the Bearish Dark Cloud Cover pattern is considered a highly reliable pattern of market reversalUse the Technical Stock Screener to see the list of stocks that had a Bearish Dark Cloud Cover Candlestick pattern during the last week.
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