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Uptrend ExhaustionArchive
- 4/19/2024 -
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Pentair Ltd. (PNR) Technical Analysis
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| Summary:
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| | It was the negative week for the Pentair Ltd. (PNR). During the week, the PNR dropped -2.57 points, or -3.17%, and closed at 78.53 on Friday, April 19, 2024. It was the worst weekly loss since January 5, 2024. Weekly volume was -13% below average.
PNR is a member of Industrials Sector. Industrials is the second 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 PNR long-term trend chart]
A long-term downtrend had started on August 16, 2021 at 80.40 and reached 38.56 on October 21, 2022. PNR lost 41.84 points, or 52.04%, in 61 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (66.09) 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 PNR medium-term trend chart]
A medium-term uptrend had started on October 21, 2022 at 38.56 and reached 85.81 on March 28, 2024. PNR gained -47.25 points, or -122.54%, in 74 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 70.50 and resistance is at 86.90. 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 PNR weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. 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 link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since December 15, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See PNR short-term trend chart]
A short-term downtrend had started on March 28, 2024 at 85.81 and reached 78.02 on April 19, 2024. PNR lost 7.79 points, or 9.08%, in 22 days. The price is now at the 6.55% retracement level.
 Daily Technical Indicators: [See PNR 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. Use the following links to access Relative Strength Index and Williams' Percentage Range help.
The daily MACD line is below its signal line since April 1, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.
During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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