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Downtrend Broken Resist.Archive
- 4/5/2024 -
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Helmerich & Payne (HP) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a sixth consecutive positive week for the Helmerich & Payne (HP). During the week, the HP gained 1.83 points, or 4.35%, and closed at 43.89 on Friday, April 5, 2024. On Friday HP has reached 43.95 - the highest level since October 20, 2023. It was the best weekly gain since January 26, 2024. Weekly volume was -34% below average.
HP is a member of Energy Sector. Energy 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 HP long-term trend chart]
A long-term downtrend had started on June 8, 2022 at 54.59 and reached 30.41 on May 11, 2023. HP lost 24.18 points, or 44.29%, in 48 weeks. The price is now at the 55.75% retracement level.
 Medium-term trend: [See HP medium-term trend chart]
A medium-term uptrend had started on January 17, 2024 at 32.17 and reached 43.95 on April 5, 2024. HP gained -11.78 points, or -36.62%, in 11 weeks. Price is near the trend high.
 Weekly Technical Indicators: [See HP weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. 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 February 9, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
Short-term trend: [See HP short-term trend chart]
A short-term uptrend had started on February 13, 2024 at 35.70 and reached 43.95 on April 5, 2024. HP gained -8.25 points, or -23.11%, in 52 days. Price is near the trend high.
 Daily Technical Indicators: [See HP daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.
The daily MACD line is above its signal line since March 8, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.
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