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Downtrend Broken Resist.Archive
- 5/17/2024 -
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CDW (CDW) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a second consecutive positive week for the CDW (CDW). During the week, the CDW climbed 1.18 points, or 0.53%, and closed at 223.64 on Friday, May 17, 2024. CDW was trading at average weekly trading volume.
CDW is a member of Technology Distributors Industry. Technology Distributors is the eighth most oversold industry. 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 CDW long-term trend chart]
A long-term uptrend had started on April 19, 2023 at 160.66 and reached 263.37 on April 4, 2024. CDW gained -102.71 points, or -63.93%, in 50 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 209.42 and resistance is at 275.76. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
 Medium-term trend: [See CDW medium-term trend chart]
A medium-term downtrend had started on April 4, 2024 at 263.37 and reached 213.04 on May 2, 2024. CDW lost 50.33 points, or 19.11%, in 4 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 186.87 and resistance is at 237.11. 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 medium-term trend.
 Weekly Technical Indicators: [See CDW weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 link to access Lane's Stochastic 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 near its 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 CDW short-term trend chart]
A short-term uptrend had started on May 2, 2024 at 213.04 and reached 225.46 on May 17, 2024. CDW gained -12.42 points, or -5.83%, in 15 days. The price is now at the 14.65% retracement level.
 Daily Technical Indicators: [See CDW daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
The distance between the Bollinger Bands is 108.15% higher then one year average. It indicates the period of high volatility of the stock price. 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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