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Archive
- 4/5/2024 -
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Perrigo Co (PRGO) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the Perrigo Co (PRGO). During the week, the PRGO dropped -0.79 points, or -2.45%, and closed at 31.40 on Friday, April 5, 2024. Weekly volume was -17% below average.
 Long-term trend: [See PRGO long-term trend chart]
A long-term downtrend had started on February 25, 2020 at 63.86 and reached 25.77 on February 29, 2024. PRGO lost 38.09 points, or 59.65%, in 209 weeks. The chart has formed a Falling Wedge chart pattern. The price is near the trend resistance line (30.52). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.
 Medium-term trend: [See PRGO medium-term trend chart]
A medium-term downtrend had started on January 9, 2024 at 34.60 and reached 25.77 on February 29, 2024. PRGO lost 8.83 points, or 25.52%, in 7 weeks. Price is near the Fibonacci 61.8% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See PRGO weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since March 22, 2024. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.
 Short-term trend: [See PRGO short-term trend chart]
A short-term uptrend had started on February 29, 2024 at 25.77 and reached 32.46 on April 4, 2024. PRGO gained -6.69 points, or -25.96%, in 35 days. The price is now at the 15.84% retracement level.
Daily Technical Indicators: [See PRGO daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since March 7, 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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