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Downtrend Broken Resist.Archive
- 10/11/2024 -
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The Cooper Companies (COO) Technical Analysis
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| Summary:
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| | It was a first positive week after 3 consecutive negative weeks for the The Cooper Companies (COO). During the week, the COO climbed 0.82 points, or 0.77%, and closed at 106.74 on Friday, October 11, 2024. Weekly volume was -10% below average.
 Long-term trend: [See COO long-term trend chart]
A long-term downtrend had started on July 17, 2023 at 399.62 and reached 84.76 on July 5, 2024. COO lost 314.86 points, or 78.79%, in 50 weeks. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. 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 Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a long-term trend.
 Medium-term trend: [See COO medium-term trend chart]
A medium-term uptrend had started on July 5, 2024 at 84.76 and reached 112.38 on September 16, 2024. COO gained -27.62 points, or -32.59%, in 10 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 101.32 and resistance is at 122.75. 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 medium-term trend.
 Weekly Technical Indicators: [See COO weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index 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 Relative Strength Index help.
The weekly MACD line is above its signal line since May 31, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 September 16, 2024 at 112.38 and reached 104.91 on October 7, 2024. COO lost 7.47 points, or 6.65%, in 21 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 103.12 and resistance is at 110.40. 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 COO daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since September 20, 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.
The price is close to the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 7.08% on Friday. It is 83.56% lower than one year average. It indicates the period of low 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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