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Downtrend Broken Resist.Archive - 10/11/2024 - Sign In to see current Signals. |
Raymond James Financial (RJF) Technical Analysis
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| Summary:
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| | It was a second consecutive positive week for the Raymond James Financial (RJF). During the week, the RJF gained 2.82 points, or 2.22%, and closed at 129.95 on Friday, October 11, 2024. Weekly volume was 11% above average. RJF is a member of Financials Sector. Financials 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 RJF long-term trend chart] A long-term downtrend had started on April 4, 2024 at 131.19 and reached 104.24 on August 5, 2024. RJF lost 26.95 points, or 20.54%, in 17 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend resistance line (88.96) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. RJF may retest the broken resistance line. It is considered to be a support 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 resistance line in a long-term trend. Medium-term trend: [See RJF medium-term trend chart] A medium-term uptrend had started on August 5, 2024 at 104.24 and reached 129.96 on October 11, 2024. RJF gained -25.72 points, or -24.67%, in 9 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 123.94 and resistance is at 131.98. 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 RJF weekly technical indicators chart] Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought 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 above its signal line since September 20, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help. Short-term trend: [See RJF short-term trend chart] A short-term uptrend had started on October 1, 2024 at 120.42 and reached 129.96 on October 11, 2024. RJF gained -9.54 points, or -7.92%, in 10 days. Price is near the trend high. Daily Technical Indicators: [See RJF daily technical indicators chart] Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. The daily MACD line is above its signal line since September 13, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger. The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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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