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Downtrend Broken Resist.Archive - 4/5/2024 - Sign In to see current Signals. |
Raymond James Financial (RJF) Technical Analysis
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| Summary:
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| | It was the negative week for the Raymond James Financial (RJF). During the week, the RJF gave back -0.13 points, or -0.10%, and closed at 128.29 on Friday, April 5, 2024. It was the worst weekly loss since February 2, 2024. Weekly volume was -20% below 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 uptrend had started on October 25, 2023 at 91.67 and reached 131.19 on April 4, 2024. RJF gained -39.52 points, or -43.11%, in 23 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (123.08) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 January 16, 2024 at 106.75 and reached 131.19 on April 4, 2024. RJF gained -24.44 points, or -22.89%, in 11 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (123.43) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 medium-term trend. Weekly Technical Indicators: [See RJF weekly technical indicators chart] Weekly Relative Strength Index and Williams' Percentage Range are overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Williams' Percentage Range or strongly overbought weekly Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help. The weekly MACD line is above its signal line since November 24, 2023. 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 March 11, 2024 at 118.20 and reached 131.19 on April 4, 2024. RJF gained -12.99 points, or -10.99%, in 24 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level. Daily Technical Indicators: [See RJF daily technical indicators chart] Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. The daily MACD line is above its signal line since March 20, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak. A Parabolic SAR (stop and reversal) indicator (127.72) comes close to the price (128.29). It indicates that the trend is getting weaker. 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.
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