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Downtrend Broken Resist.Archive
- 9/22/2023 -
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The Cooper Companies (COO) Technical Analysis
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| Summary:
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| | It was the negative week for the The Cooper Companies (COO). During the week, the COO dropped -13.49 points, or -3.94%, and closed at 328.87 on Friday, September 22, 2023. Weekly volume was -46% below average.
 Long-term trend: [See COO long-term trend chart]
A long-term downtrend had started on September 3, 2021 at 463.38 and reached 244.22 on October 13, 2022. COO lost 219.16 points, or 47.30%, in 57 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Medium-term trend: [See COO medium-term trend chart]
A medium-term downtrend had started on July 17, 2023 at 399.62 and reached 326.18 on September 22, 2023. COO lost 73.44 points, or 18.38%, in 9 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend support line (338.32) is broken, while daily and weekly technical indicators are oversold. Downtrend is exhausted and trend reversal is possible soon. 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 COO weekly technical indicators chart]
Weekly 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 weekly 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 and Williams' Percentage Range help.
The weekly MACD line is below its signal line since August 4, 2023. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
Short-term trend: [See COO short-term trend chart]
A short-term downtrend had started on August 30, 2023 at 383.14 and reached 326.18 on September 22, 2023. COO lost 56.96 points, or 14.87%, in 23 days. Price is near the trend low.
 Daily Technical Indicators: [See COO daily technical indicators chart]
Daily Relative Strength Index is oversold while Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index or strongly oversold daily Williams' Percentage Range and Lane's Stochastic. Daily MACD has bullish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Relative Strength Index help.
The daily MACD line is below its signal line since August 31, 2023. This is an indication that the short-term trend is down.
 Candlestick pattern: [See COO candlestick chart pattern]
On Friday the chart has formed a Bullish Homing Pigeon Candlestick pattern. A Bullish Homing Pigeon pattern occurs in a downtrend. Market usually has a tendency to enter into a congestion phase following a Homing Pigeon pattern.The reliability of the Bullish Homing Pigeon is medium. Use the Technical Stock Screener to see the list of stocks that had a Bullish Homing Pigeon Candlestick pattern during the last week.
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