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Department Stores Industry Stocks Technical Analysis - MTBArchive
- 4/26/2024 -
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M&T Bank Corp. (MTB) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a second consecutive positive week for the M&T Bank Corp. (MTB). During the week, the MTB gained 3.00 points, or 2.09%, and closed at 146.38 on Friday, April 26, 2024. Weekly volume was -28% below average.
MTB is a member of Financials Sector. Financials 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 MTB long-term trend chart]
A long-term downtrend had started on August 16, 2022 at 193.42 and reached 108.53 on October 27, 2023. MTB lost 84.89 points, or 43.89%, in 62 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (107.69) 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. MTB 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 MTB medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 108.53 and reached 148.93 on April 26, 2024. MTB gained -40.40 points, or -37.22%, in 26 weeks. The chart has formed a Ascending Triangle chart pattern. The price is near the trend resistance line (145.84). The resistance is usually stronger when technical indicators are overbought. 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 resistance line in a medium-term trend.
 Weekly Technical Indicators: [See MTB 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. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since November 17, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See MTB short-term trend chart]
A short-term uptrend had started on April 11, 2024 at 133.03 and reached 148.93 on April 26, 2024. MTB gained -15.90 points, or -11.95%, in 15 days. The price is now at the 16.04% retracement level.
 Daily Technical Indicators: [See MTB daily technical indicators chart]
Daily Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range or strongly overbought daily Lane's Stochastic.
The daily MACD line is above its signal line since April 18, 2024. This is an indication that the short-term trend is up.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Financials |
10 |
| Industry |
Regional Banks |
96 |
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| Daily Trend |
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Low |
133.03 |
| Low Date |
04/11/2024 |
| High |
148.93 |
| High Date |
04/26/2024 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
133.03 |
| Low Date |
04/11/2024 |
| High |
148.93 |
| High Date |
04/26/2024 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
128.31 |
| Low Date |
02/01/2024 |
| High |
148.93 |
| High Date |
04/26/2024 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Ascending Triangle |
| Status |
Test Resistance |
| Resistance |
145.84 |
| Support |
133.82 |
| Low |
108.53 |
| Low Date |
10/27/2023 |
| High |
148.93 |
| High Date |
04/26/2024 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Descending Triangle |
| Status |
Broken Resistance |
| Resistance |
104.38 |
| Support |
107.69 |
| High |
193.42 |
| High Date |
08/16/2022 |
| Low |
108.53 |
| Low Date |
10/27/2023 |
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