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Downtrend Broken Resist.Archive
- 4/19/2024 -
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FleetCor T (FLT) Technical Analysis
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| Summary:
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| | It was the negative week for the FleetCor T (FLT). During the week, the FLT dropped -5.62 points, or -1.87%, and closed at 294.29 on Friday, April 19, 2024. Weekly volume was -11% below average.
 Long-term trend: [See FLT long-term trend chart]
A long-term uptrend had started on October 21, 2022 at 161.69 and reached 319.94 on March 25, 2024. FLT gained -158.25 points, or -97.87%, in 74 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 247.03 and resistance is at 330.17. 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 FLT medium-term trend chart]
A medium-term uptrend had started on October 30, 2023 at 220.39 and reached 319.94 on March 25, 2024. FLT gained -99.55 points, or -45.17%, in 21 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 287.19 and resistance is at 330.08. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.
 Weekly Technical Indicators: [See FLT weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. 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 above its signal line since December 15, 2023. 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 FLT short-term trend chart]
A short-term downtrend had started on March 25, 2024 at 319.94 and reached 293.01 on April 19, 2024. FLT lost 26.93 points, or 8.42%, in 25 days. Price is near the trend low.
 Daily Technical Indicators: [See FLT daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since April 4, 2024. This is an indication that the short-term trend is down.
Price is close to the 50 Day Moving Average. While daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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