The Greedy Trader Weekly Analysis
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- 3/15/2024 -
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Waters Corporation (WAT) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range and Lane's Stochastic are overboughtBroken trend resistance line
Daily :Stochastic signal line moved below overbought areaDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SAR
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It was the negative week for the Waters Corporation (WAT). During the week, the WAT gave back -3.04 points, or -0.85%, and closed at 352.90 on Friday, March 15, 2024. It was the worst weekly loss since January 5, 2024. Weekly volume was -23% below average.

Long-term trend: [See WAT long-term trend chart]
A long-term downtrend had started on September 8, 2021 at 428.22 and reached 231.90 on October 25, 2023. WAT lost 196.32 points, or 45.85%, in 111 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (219.28) 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 WAT medium-term trend chart]
A medium-term uptrend had started on January 10, 2024 at 293.46 and reached 363.80 on March 8, 2024. WAT gained -70.34 points, or -23.97%, in 8 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 320.34 and resistance is at 370.83. 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 WAT weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with 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 and Williams' Percentage Range help.

The weekly MACD line is above its signal line since November 17, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See WAT short-term trend chart]
A short-term downtrend had started on March 8, 2024 at 363.80 and reached 340.68 on March 14, 2024. WAT lost 23.12 points, or 6.36%, in 6 days. The price is now at the 52.85% retracement level.

Daily Technical Indicators: [See WAT daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 69.04
Williams' Percentage Range (W%R) 53.10
Lane's Stochastic (%D-Slow) 53.36
Greed/Fear Indicator (GFI) 56.44
Moving Average Converg./Diverg. (MACD) 8.01
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 76.15
Williams' Percentage Range (W%R) 17.50
Overbought
Lane's Stochastic (%D-Slow) 81.92
Overbought
Greed/Fear Indicator (GFI) 73.35
Moving Average Converg./Diverg. (MACD) 11.55
Trading Signals
Description Value Chart
Monthly Trendline Resistance 370.83
Upper Bollinger Band 364.63
Parabolic System 363.69
Weekly Stochastic Crossing 356.05
Price 352.90
Daily Stochastic Crossing 352.06
20 Day Moving Average 341.64
50 Day Moving Average 326.06
Monthly Trendline Support 320.34
Lower Bollinger Band 320.02
Sector and Industry
Description Name Rank
Sector Health Care 6
Industry Health Care Distributors 69
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 340.68
Low Date 03/14/2024
High 354.87
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 363.80
High Date 03/08/2024
Low 340.68
Low Date 03/14/2024
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 370.83
Support 320.34
Low 293.46
Low Date 01/10/2024
High 363.80
High Date 03/08/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 231.90
Low Date 10/25/2023
High 363.80
High Date 03/08/2024
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 276.56
Support 219.28
High 428.22
High Date 09/08/2021
Low 231.90
Low Date 10/25/2023
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.