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Downtrend Broken Resist.Archive
- 4/19/2024 -
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Seagate Technology (STX) Technical Analysis
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| Summary:
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| | It was the negative week for the Seagate Technology (STX). During the week, the STX dropped -2.73 points, or -3.20%, and closed at 82.46 on Friday, April 19, 2024. Weekly volume was 7% above average.
 Long-term trend: [See STX long-term trend chart]
A long-term downtrend had started on January 5, 2022 at 117.67 and reached 47.47 on November 3, 2022. STX lost 70.20 points, or 59.66%, in 43 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (69.21) 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 STX medium-term trend chart]
A medium-term uptrend had started on April 21, 2023 at 54.32 and reached 101.26 on March 6, 2024. STX gained -46.94 points, or -86.41%, in 45 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 73.10 and resistance is at 106.75. 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 medium-term trend.
 Weekly Technical Indicators: [See STX weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since March 28, 2024. Use the following link to access a MACD help.
 Short-term trend: [See STX short-term trend chart]
A short-term downtrend had started on March 26, 2024 at 97.95 and reached 82.31 on April 19, 2024. STX lost 15.64 points, or 15.97%, in 24 days. Price is near the trend low.
 Daily Technical Indicators: [See STX daily technical indicators chart]
Daily Relative Strength Index is oversold while Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index or strongly oversold daily Williams' Percentage Range and Lane's Stochastic. Daily MACD has bullish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 daily MACD line is below its signal line since April 4, 2024. This is an indication that the short-term trend is down.
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