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Advanced TA SearchArchive - 3/15/2024 - Sign In to see current Signals. |
M&T Bank Corp. (MTB) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was the negative week for the M&T Bank Corp. (MTB). During the week, the MTB dropped -2.21 points, or -1.55%, and closed at 140.53 on Friday, March 15, 2024. Weekly volume was -24% below average. MTB 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 MTB long-term trend chart] A long-term downtrend had started on August 16, 2022 at 193.42 and reached 108.53 on October 27, 2023. MTB lost 84.89 points, or 43.89%, in 62 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (107.88) is broken. A broken support is considered to be a long-term bullish signal. 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 MTB medium-term trend chart] A medium-term uptrend had started on October 27, 2023 at 108.53 and reached 148.23 on December 14, 2023. MTB gained -39.70 points, or -36.58%, in 6 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (139.81) 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 medium-term trend. Weekly Technical Indicators: [See MTB weekly technical indicators chart] Weekly technical indicators are neutral. The weekly MACD line is above its signal line since November 17, 2023. 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 MTB short-term trend chart] A short-term downtrend had started on March 13, 2024 at 146.79 and reached 139.25 on March 15, 2024. MTB lost 7.54 points, or 5.14%, in 2 days. The price is now at the 16.98% retracement level. Daily Technical Indicators: [See MTB daily technical indicators chart] Daily technical indicators are neutral. During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal. During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 price is close to the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (7.12%) is close to one year low (6.66%). 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.
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