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Archive
- 4/26/2024 -
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Gartner Inc (IT) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week after 4 consecutive negative weeks for the Gartner Inc (IT). During the week, the IT gained 8.40 points, or 1.91%, and closed at 448.78 on Friday, April 26, 2024. Weekly volume was -29% below average.
 Long-term trend: [See IT long-term trend chart]
A long-term uptrend had started on June 24, 2020 at 114.83 and reached 486.54 on March 21, 2024. IT gained -371.71 points, or -323.70%, in 195 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (345.95) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 IT medium-term trend chart]
A medium-term uptrend had started on April 26, 2023 at 292.60 and reached 486.54 on March 21, 2024. IT gained -193.94 points, or -66.28%, in 47 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 353.65 and resistance is at 502.52. 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 IT weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since March 1, 2024. Use the following link to access a MACD help.
 Short-term trend: [See IT short-term trend chart]
A short-term downtrend had started on March 21, 2024 at 486.54 and reached 438.58 on April 19, 2024. IT lost 47.96 points, or 9.86%, in 29 days. The chart has formed a Falling Channel chart pattern. The downtrend support line (456.31) is broken. Usually a broken support is considered to be a long-term bearish signal, although a short-term pull back is possible. 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 short-term trend.
Daily Technical Indicators: [See IT 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 March 27, 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 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.
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