Downtrend Broken Resist.Archive
- 9/22/2023 -
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DXC Technology (DXC) Technical Analysis
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|It was the negative week for the DXC Technology (DXC). During the week, the DXC dropped -0.39 points, or -1.88%, and closed at 20.30 on Friday, September 22, 2023. Weekly volume was 6% above average. |
DXC is a member of Information Technology Sector. Information Technology is the most overbought sector. 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 DXC long-term trend chart]
A long-term downtrend had started on August 3, 2021 at 44.18 and reached 18.61 on August 3, 2023. DXC lost 25.57 points, or 57.88%, in 104 weeks. The price is now at the 6.61% retracement level.
Medium-term trend: [See DXC medium-term trend chart]
A medium-term downtrend had started on July 26, 2023 at 28.89 and reached 18.61 on August 3, 2023. DXC lost 10.28 points, or 35.58%, in 1 weeks. The chart has formed a Rectangle chart pattern. The trend support level is at 19.98 and resistance is at 20.92. 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 medium-term trend.
Weekly Technical Indicators: [See DXC weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range 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 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. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
Short-term trend: [See DXC short-term trend chart]
A short-term downtrend had started on September 20, 2023 at 20.94 and reached 20.22 on September 22, 2023. DXC lost 0.72 points, or 3.44%, in 2 days. The price is now at the 11.11% retracement level.
Daily Technical Indicators: [See DXC daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since August 22, 2023. The distance between MACD and the signal line is low and getting smaller.
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 distance between the Bollinger Bands (5.52%) is close to one year low (5.06%). It is 69.22% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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.