|
|
|
|
Archive
- 6/7/2024 -
Sign In to see current Signals. |
Omnicom Group (OMC) Technical Analysis
|
 |
| Summary:
| | Weekly :  | | Daily :
Move cursor over the icon to see details.
| | It was the negative week for the Omnicom Group (OMC). During the week, the OMC dropped -1.87 points, or -2.01%, and closed at 91.09 on Friday, June 7, 2024. Weekly volume was -15% below average.
OMC is a member of Communication Services Sector. Communication Services 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 OMC long-term trend chart]
A long-term uptrend had started on October 29, 2020 at 44.50 and reached 99.23 on July 18, 2023. OMC gained -54.73 points, or -122.99%, in 141 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 80.68 and resistance is at 104.02. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a long-term trend.
 Medium-term trend: [See OMC medium-term trend chart]
A medium-term uptrend had started on October 3, 2023 at 72.20 and reached 98.06 on May 15, 2024. OMC gained -25.86 points, or -35.82%, in 32 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (94.69) 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. OMC 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 OMC weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since May 24, 2024. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.
 Short-term trend: [See OMC short-term trend chart]
A short-term downtrend had started on May 15, 2024 at 98.06 and reached 90.00 on June 4, 2024. OMC lost 8.06 points, or 8.22%, in 20 days. The price is now at the 13.52% retracement level.
 Daily Technical Indicators: [See OMC daily technical indicators chart]
Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is below its signal line since May 21, 2024. This is an indication that the short-term trend is down.
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.
| |
|
|
|
|
| Daily Oscillators |
|
|
| Weekly Oscillators |
|
|
| Trading
Signals |
|
|
|
| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Communication Services |
11 |
| Industry |
Advertising |
33 |
|
| Daily Trend |
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Low |
90.00 |
| Low Date |
06/04/2024 |
| High |
92.00 |
| High Date |
06/07/2024 |
|
| Weekly Trend |
|
| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
|
| Resistance |
|
| Support |
|
| High |
98.06 |
| High Date |
05/15/2024 |
| Low |
90.00 |
| Low Date |
06/04/2024 |
|
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Wedge |
| Status |
Broken Support |
| Resistance |
100.23 |
| Support |
94.69 |
| Low |
72.20 |
| Low Date |
10/03/2023 |
| High |
98.06 |
| High Date |
05/15/2024 |
|
| Quarterly Trend |
|
| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
|
| Resistance |
|
| Support |
|
| High |
99.23 |
| High Date |
07/18/2023 |
| Low |
72.20 |
| Low Date |
10/03/2023 |
|
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Wedge |
| Status |
Valid |
| Resistance |
104.02 |
| Support |
80.68 |
| Low |
44.50 |
| Low Date |
10/29/2020 |
| High |
99.23 |
| High Date |
07/18/2023 |
|
|