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Uptrend Broken SupportArchive
- 4/26/2024 -
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Constellation Brands (STZ) Technical Analysis
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| Summary:
| | | Weekly : | | Daily :
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| | It was the negative week for the Constellation Brands (STZ). During the week, the STZ gave back -0.66 points, or -0.25%, and closed at 260.04 on Friday, April 26, 2024. Weekly volume was -19% below average.
 Long-term trend: [See STZ long-term trend chart]
A long-term uptrend had started on March 23, 2020 at 104.28 and reached 274.87 on April 11, 2024. STZ gained -170.59 points, or -163.59%, in 211 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 249.71 and resistance is at 283.94. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a long-term trend.
 Medium-term trend: [See STZ medium-term trend chart]
A medium-term uptrend had started on October 13, 2023 at 227.50 and reached 274.87 on April 11, 2024. STZ gained -47.37 points, or -20.82%, in 25 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 250.32 and resistance is at 278.73. 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 STZ weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since January 5, 2024. 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 STZ short-term trend chart]
A short-term downtrend had started on April 11, 2024 at 274.87 and reached 253.41 on April 16, 2024. STZ lost 21.46 points, or 7.81%, in 5 days. The price is now at the 30.89% retracement level.
Daily Technical Indicators: [See STZ daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since March 28, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
Price is close to the 50 Day Moving Average. 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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