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Downtrend ResistanceArchive
- 4/26/2024 -
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Rockwell Automation, Inc. (ROK) Technical Analysis
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| Summary:
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| | It was a first positive week for the Rockwell Automation, Inc. (ROK). During the week, the ROK gained 10.16 points, or 3.76%, and closed at 280.12 on Friday, April 26, 2024. It was the best weekly gain since February 9, 2024. Weekly volume was -14% below average.
ROK 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 ROK long-term trend chart]
A long-term uptrend had started on March 5, 2009 at 17.50 and reached 354.99 on December 16, 2021. ROK gained -337.49 points, or -1928.51%, in 667 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 155.06 and resistance is at 420.02. 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 long-term trend.
 Medium-term trend: [See ROK medium-term trend chart]
A medium-term downtrend had started on July 18, 2023 at 348.52 and reached 252.11 on January 31, 2024. ROK lost 96.41 points, or 27.66%, in 28 weeks. The chart has formed a Descending Triangle chart pattern. The trend support level is at 252.03 and resistance is at 287.68. A Descending Triangle is a variation of triangle formation that has a flat support line and falling resistance line. The lower highs indicate the decreasing demand and give the descending triangle definitive bearish bias. A Descending Triangle usually represents a distribution stage in bearish market. A Descending Triangle is considered to be a continuation pattern, especially in a down trend, but it may also mark a reversal in an uptrend. Use the following link to access a Descending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Descending Triangle pattern in a medium-term trend.
 Weekly Technical Indicators: [See ROK weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since February 2, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See ROK short-term trend chart]
A short-term downtrend had started on March 8, 2024 at 298.62 and reached 263.69 on March 20, 2024. ROK lost 34.93 points, or 11.70%, in 12 days. The chart has formed a Symmetric Triangle chart pattern.
Daily Technical Indicators: [See ROK daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since April 16, 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.
A Parabolic SAR (stop and reversal) indicator (282.83) comes close to the price (280.12). It indicates that the trend is getting weaker. 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.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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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