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Downtrend Broken Resist.Archive
- 9/22/2023 -
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Ecolab Inc. (ECL) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the Ecolab Inc. (ECL). During the week, the ECL dropped -5.98 points, or -3.36%, and closed at 171.98 on Friday, September 22, 2023. It was the worst weekly loss since May 26, 2023. Weekly volume was -24% below average.
ECL is a member of Materials Sector. Materials is the second 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 ECL long-term trend chart]
A long-term downtrend had started on November 22, 2021 at 238.93 and reached 131.04 on November 3, 2022. ECL lost 107.89 points, or 45.16%, in 49 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (101.92) is broken. A broken support is considered to be a long-term bullish signal. 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 resistance line in a long-term trend.
 Medium-term trend: [See ECL medium-term trend chart]
A medium-term uptrend had started on November 3, 2022 at 131.04 and reached 191.41 on July 26, 2023. ECL gained -60.37 points, or -46.07%, in 37 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (193.82) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. ECL may retest the broken support line. It is considered to be a resistance line now. 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 ECL weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since August 18, 2023. Use the following link to access a MACD help.
 Short-term trend: [See ECL short-term trend chart]
A short-term downtrend had started on August 31, 2023 at 185.22 and reached 170.89 on September 14, 2023. ECL lost 14.33 points, or 7.74%, in 14 days. The price is now at the 7.61% retracement level.
 Daily Technical Indicators: [See ECL daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold 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 link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since September 13, 2023. This is an indication that the short-term trend is down.
The price touches the lower Bollinger Band. 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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