- 6/26/2020 -
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AFLAC Corporation (AFL)
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|It was the negative week for the AFLAC Corporation (AFL). During the week, the AFL dropped -1.92 points, or -5.25%, and closed at 34.68 on Friday, June 26, 2020. Weekly volume was -27% below average. |
Long-term trend: [See AFL long-term trend chart]
A long-term downtrend had started on July 15, 2019 at 57.18 and reached 23.07 on March 18, 2020. AFL lost 34.11 points, or 59.65%, in 35 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 10.71 and resistance is at 51.94. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.
Medium-term trend: [See AFL medium-term trend chart]
A medium-term uptrend had started on March 18, 2020 at 23.07 and reached 42.19 on June 8, 2020. AFL gained -19.12 points, or -82.88%, in 11 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend support line (35.76) 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. AFL 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 AFL weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since May 29, 2020. 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 AFL short-term trend chart]
A short-term downtrend had started on June 8, 2020 at 42.19 and reached 34.30 on June 26, 2020. AFL lost 7.89 points, or 18.70%, in 18 days. Price is near the trend low.
Daily Technical Indicators: [See AFL daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. 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 Williams' Percentage Range help.
The daily MACD line is below its signal line since June 11, 2020. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.
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.