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Industrial Machinery Industry Stocks Technical Analysis - FTV

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- 3/15/2024 -
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Fortive Corp (FTV) Technical Analysis

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Summary:
Weekly :Overbought sectorRelative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overboughtBroken trend resistance line
Daily :The price has risen above the Parabolic SARThe Bollinger Bands are historically close together
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It was a first positive week for the Fortive Corp (FTV). During the week, the FTV climbed 0.30 points, or 0.35%, and closed at 85.35 on Friday, March 15, 2024. Weekly volume was -31% below average.

FTV is a member of Industrials Sector. Industrials 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 FTV long-term trend chart]
A long-term uptrend had started on March 18, 2020 at 37.31 and reached 86.75 on March 13, 2024. FTV gained -49.44 points, or -132.51%, in 208 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend resistance line (65.18) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 resistance line in a long-term trend.

Medium-term trend: [See FTV medium-term trend chart]
A medium-term uptrend had started on October 25, 2023 at 63.05 and reached 86.75 on March 13, 2024. FTV gained -23.70 points, or -37.59%, in 20 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 75.95 and resistance is at 87.17. 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 FTV weekly technical indicators chart]
Weekly Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index or strongly overbought weekly Williams' Percentage Range and Lane's Stochastic. 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, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since January 5, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.

Short-term trend: [See FTV short-term trend chart]
A short-term downtrend had started on March 13, 2024 at 86.75 and reached 84.18 on March 15, 2024. FTV lost 2.57 points, or 2.96%, in 2 days. The price is now at the 45.53% retracement level.

Daily Technical Indicators: [See FTV daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since February 27, 2024. This is an indication that the short-term trend is down.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. 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 distance between the Bollinger Bands (3.51%) is close to one year low (4.34%). It is 62.94% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 45.44
Williams' Percentage Range (W%R) 56.00
Lane's Stochastic (%D-Slow) 62.63
Greed/Fear Indicator (GFI) 50.68
Moving Average Converg./Diverg. (MACD) 1.69
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 84.87
Overbought
Williams' Percentage Range (W%R) 8.20
Strong Overbought
Lane's Stochastic (%D-Slow) 93.57
Strong Overbought
Greed/Fear Indicator (GFI) 83.94
Overbought
Moving Average Converg./Diverg. (MACD) 2.08
Trading Signals
Description Value Chart
Monthly Trendline Resistance 87.17
Upper Bollinger Band 85.94
Daily Stochastic Crossing 85.90
Weekly Stochastic Crossing 85.61
Price 85.35
20 Day Moving Average 85.22
Parabolic System 83.98
Lower Bollinger Band 82.93
50 Day Moving Average 80.01
Yearly Trendline Resistance 79.11
Monthly Trendline Support 75.95
Sector and Industry
Description Name Rank
Sector Industrials 12
Industry Industrial Machinery 105
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 86.75
High Date 03/13/2024
Low 84.18
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 86.75
High Date 03/13/2024
Low 84.18
Low Date 03/15/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 87.17
Support 75.95
Low 63.05
Low Date 10/25/2023
High 86.75
High Date 03/13/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 52.47
Low Date 07/14/2022
High 86.75
High Date 03/13/2024
Description Value
Direction Up
Chart Pattern Ascending Triangle
Status Broken Resistance
Resistance 79.11
Support 65.18
Low 37.31
Low Date 03/18/2020
High 86.75
High Date 03/13/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.