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Advanced TA SearchArchive
- 4/5/2024 -
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Comerica Inc. (CMA) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Comerica Inc. (CMA). During the week, the CMA dropped -2.35 points, or -4.27%, and closed at 52.64 on Friday, April 5, 2024. Weekly volume was -48% below average.
CMA 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 CMA long-term trend chart]
A long-term uptrend had started on May 4, 2023 at 28.40 and reached 57.39 on December 14, 2023. CMA gained -28.99 points, or -102.08%, in 32 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 49.10 and resistance is at 58.55. 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 CMA medium-term trend chart]
A medium-term uptrend had started on October 23, 2023 at 37.40 and reached 57.39 on December 14, 2023. CMA gained -19.99 points, or -53.45%, in 7 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See CMA weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since March 22, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See CMA short-term trend chart]
A short-term uptrend had started on March 18, 2024 at 48.79 and reached 55.25 on April 1, 2024. CMA gained -6.46 points, or -13.24%, in 14 days. The chart has formed a Rising Wedge chart pattern.
Daily Technical Indicators: [See CMA daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since March 19, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
During the last week, the 20 Day Moving Average 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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