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Archive
- 4/26/2024 -
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SBA Communications (SBAC) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week after 3 consecutive negative weeks for the SBA Communications (SBAC). During the week, the SBAC climbed 0.17 points, or 0.09%, and closed at 196.23 on Friday, April 26, 2024. Weekly volume was -8% below average.
 Long-term trend: [See SBAC long-term trend chart]
A long-term downtrend had started on December 31, 2021 at 391.15 and reached 185.63 on October 6, 2023. SBAC lost 205.52 points, or 52.54%, in 92 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 143.82 and resistance is at 234.95. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a long-term trend.
 Medium-term trend: [See SBAC medium-term trend chart]
A medium-term uptrend had started on October 6, 2023 at 185.63 and reached 258.76 on December 14, 2023. SBAC gained -73.13 points, or -39.40%, in 9 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (201.79) 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. SBAC 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 SBAC weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold 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 link to access Williams' Percentage Range help.
The weekly MACD line is below its signal line since February 2, 2024. Use the following link to access a MACD help.
 Short-term trend: [See SBAC short-term trend chart]
A short-term downtrend had started on March 11, 2024 at 225.34 and reached 193.94 on April 18, 2024. SBAC lost 31.40 points, or 13.93%, in 38 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 188.73 and resistance is at 211.63. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See SBAC daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Use the following link to access Lane's Stochastic help.
The daily MACD line is below its signal line since April 9, 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.
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