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Uptrend SupportArchive
- 5/17/2024 -
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Weyerhaeuser Corp. (WY) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week for the Weyerhaeuser Corp. (WY). During the week, the WY climbed 0.20 points, or 0.65%, and closed at 31.17 on Friday, May 17, 2024. It was the best weekly gain since March 28, 2024. Weekly volume was 10% above average.
 Long-term trend: [See WY long-term trend chart]
A long-term uptrend had started on September 29, 2022 at 27.37 and reached 36.27 on March 28, 2024. WY gained -8.90 points, or -32.52%, in 78 weeks. The chart has formed a Rectangle chart pattern. The trend support level is at 28.32 and resistance is at 36.55. A rectangle chart pattern is characterized as a short-term horizontal channel and represents a trading range and indecision area that is usually resolves in the direction of the main trend. Chart analysis usually considers a rectangle pattern a continuation formation, but it can also mark significant top and bottom. A rectangle pattern within younger parent trend has more chances to mark a continuation. Use the following link to access a Rectangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rectangle pattern in a long-term trend.
 Medium-term trend: [See WY medium-term trend chart]
A medium-term downtrend had started on March 28, 2024 at 36.27 and reached 30.03 on May 1, 2024. WY lost 6.24 points, or 17.20%, in 4 weeks. The price is now at the 18.27% retracement level.
 Weekly Technical Indicators: [See WY weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since April 12, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
 Short-term trend: [See WY short-term trend chart]
A short-term uptrend had started on May 1, 2024 at 30.03 and reached 31.83 on May 3, 2024. WY gained -1.80 points, or -5.99%, in 2 days. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (31.52) is broken. A broken support is considered to be a long-term bearish 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 support in a short-term trend.
 Daily Technical Indicators: [See WY daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since May 6, 2024. This is an indication that the short-term trend is up.
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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