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Downtrend Broken Resist.Archive
- 4/26/2024 -
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Polo Ralph Lauren Corp. (RL) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week after 3 consecutive negative weeks for the Polo Ralph Lauren Corp. (RL). During the week, the RL gained 8.02 points, or 5.06%, and closed at 166.48 on Friday, April 26, 2024. It was the best weekly gain since February 9, 2024. Weekly volume was 10% above average.
 Long-term trend: [See RL long-term trend chart]
A long-term uptrend had started on April 3, 2020 at 59.82 and reached 192.03 on March 21, 2024. RL gained -132.21 points, or -221.01%, in 206 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (112.26) 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 RL medium-term trend chart]
A medium-term uptrend had started on September 30, 2022 at 82.23 and reached 192.03 on March 21, 2024. RL gained -109.80 points, or -133.53%, in 76 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (124.38) 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 RL weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 12, 2024. Use the following link to access a MACD help.
 Short-term trend: [See RL short-term trend chart]
A short-term downtrend had started on March 21, 2024 at 192.03 and reached 156.91 on April 19, 2024. RL lost 35.12 points, or 18.29%, in 29 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 149.90 and resistance is at 172.63. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a short-term trend.
Daily Technical Indicators: [See RL daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish 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.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
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.
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