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Uptrend ExhaustionArchive
- 4/26/2024 -
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Wabtec Corporation (WAB) Technical Analysis
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| Summary:
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| | It was a first positive week for the Wabtec Corporation (WAB). During the week, the WAB gained 20.19 points, or 14.00%, and closed at 164.36 on Friday, April 26, 2024. Weekly volume was 98% above average.
WAB is a member of Industrials Sector. Industrials is the second 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 WAB long-term trend chart]
A long-term uptrend had started on June 18, 2021 at 76.30 and reached 167.49 on April 24, 2024. WAB gained -91.19 points, or -119.52%, in 148 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (106.58) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 WAB medium-term trend chart]
A medium-term uptrend had started on July 14, 2022 at 78.26 and reached 167.49 on April 24, 2024. WAB gained -89.23 points, or -114.02%, in 92 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (106.58) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 WAB weekly technical indicators chart]
Weekly Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and 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, Relative Strength Index 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 WAB short-term trend chart]
A short-term uptrend had started on April 22, 2024 at 143.22 and reached 167.49 on April 24, 2024. WAB gained -24.27 points, or -16.95%, in 2 days. The price is now at the 12.90% retracement level.
 Daily Technical Indicators: [See WAB daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
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 price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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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