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Downtrend ResistanceArchive
- 4/19/2024 -
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UNM Group (UNM) Technical Analysis
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| Summary:
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| | It was a first positive week for the UNM Group (UNM). During the week, the UNM gained 1.06 points, or 2.11%, and closed at 51.36 on Friday, April 19, 2024. Weekly volume was -16% below average.
UNM is a member of Financials Sector. Financials is the 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 UNM long-term trend chart]
A long-term uptrend had started on March 23, 2020 at 9.58 and reached 54.57 on April 3, 2024. UNM gained -44.99 points, or -469.62%, in 210 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 43.95 and resistance is at 56.43. 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 long-term trend.
 Medium-term trend: [See UNM medium-term trend chart]
A medium-term uptrend had started on November 2, 2023 at 41.75 and reached 54.57 on April 3, 2024. UNM gained -12.82 points, or -30.71%, in 21 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 50.25 and resistance is at 56.21. 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 UNM 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 January 26, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See UNM short-term trend chart]
A short-term uptrend had started on April 16, 2024 at 49.69 and reached 51.48 on April 19, 2024. UNM gained -1.79 points, or -3.60%, in 3 days. The price is now at the 6.70% retracement level.
Daily Technical Indicators: [See UNM daily technical indicators chart]
Daily technical indicators are neutral. 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.
The daily MACD line is below its signal line since April 3, 2024.
A Parabolic SAR (stop and reversal) indicator (51.53) comes close to the price (51.36). 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.
The price is close to 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.
During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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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