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Advanced TA SearchArchive
- 4/5/2024 -
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Omnicom Group (OMC) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the Omnicom Group (OMC). During the week, the OMC dropped -4.14 points, or -4.28%, and closed at 92.62 on Friday, April 5, 2024. It was the worst weekly loss since February 9, 2024. Weekly volume was -25% below average.
 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 77.36 and resistance is at 103.58. 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 97.49 on March 28, 2024. OMC gained -25.29 points, or -35.03%, in 25 weeks. The price is now at the 19.26% retracement level.
 Weekly Technical Indicators: [See OMC weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic. 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. Use the following link to access a MACD help.
Short-term trend: [See OMC short-term trend chart]
A short-term uptrend had started on March 14, 2024 at 91.86 and reached 97.49 on March 28, 2024. OMC gained -5.63 points, or -6.13%, in 14 days. The price is now at the 86.50% retracement level.
 Daily Technical Indicators: [See OMC daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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