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Downtrend ResistanceArchive
- 4/19/2024 -
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Universal Health Services (UHS) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Universal Health Services (UHS). During the week, the UHS dropped -9.32 points, or -5.59%, and closed at 157.47 on Friday, April 19, 2024. Weekly volume was 32% above average.
 Long-term trend: [See UHS long-term trend chart]
A long-term uptrend had started on February 5, 2010 at 28.40 and reached 183.61 on March 28, 2024. UHS gained -155.21 points, or -546.51%, in 737 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 80.25 and resistance is at 202.09. 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 UHS medium-term trend chart]
A medium-term uptrend had started on October 24, 2023 at 119.90 and reached 183.61 on March 28, 2024. UHS gained -63.71 points, or -53.14%, in 22 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (182.30) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. UHS may retest the broken support line. It is considered to be a resistance line now. 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 medium-term trend.
 Weekly Technical Indicators: [See UHS weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.
 Short-term trend: [See UHS short-term trend chart]
A short-term downtrend had started on April 4, 2024 at 174.98 and reached 152.69 on April 18, 2024. UHS lost 22.29 points, or 12.74%, in 14 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See UHS daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range and Lane's Stochastic. During the last week, daily 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 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 near its high and getting bigger. It indicates that the current short-term downtrend is strong.
 Candlestick pattern: [See UHS candlestick chart pattern]
On Friday the chart has formed a Bearish Downside Tasuki Gap Candlestick pattern. This is a rare continuation formation that appears in a strongly downward moving market. The reliability of the Bearish Downside Tasuki Gap pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Downside Tasuki Gap Candlestick pattern during the last week.
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