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Uptrend SupportArchive
- 6/7/2024 -
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Weyerhaeuser Corp. (WY) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the Weyerhaeuser Corp. (WY). During the week, the WY dropped -0.67 points, or -2.23%, and closed at 29.36 on Friday, June 7, 2024. Weekly volume was -8% below average.
 Long-term trend: [See WY long-term trend chart]
A long-term uptrend had started on September 29, 2022 at 27.37 and reached 36.27 on March 28, 2024. WY gained -8.90 points, or -32.52%, in 78 weeks. The chart has formed a Rectangle chart pattern. The trend support level is at 28.35 and resistance is at 36.58. A rectangle chart pattern is characterized as a short-term horizontal channel and represents a trading range and indecision area that is usually resolves in the direction of the main trend. Chart analysis usually considers a rectangle pattern a continuation formation, but it can also mark significant top and bottom. A rectangle pattern within younger parent trend has more chances to mark a continuation. Use the following link to access a Rectangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rectangle pattern in a long-term trend.
 Medium-term trend: [See WY medium-term trend chart]
A medium-term downtrend had started on March 28, 2024 at 36.27 and reached 29.15 on June 7, 2024. WY lost 7.12 points, or 19.63%, in 10 weeks. Price is near the trend low.
 Weekly Technical Indicators: [See WY weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Relative Strength Index and Lane's Stochastic or strongly oversold weekly 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, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is below its signal line since April 12, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term downtrend is strong. Use the following link to access a MACD help.
Short-term trend: [See WY short-term trend chart]
A short-term downtrend had started on June 3, 2024 at 30.07 and reached 29.15 on June 7, 2024. WY lost 0.92 points, or 3.06%, in 4 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See WY daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly 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. Daily Lane's Stochastic and MACD have bullish 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 daily Lane's Stochastic and MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.
The daily MACD line is below its signal line since May 24, 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.
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