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Uptrend Broken Support

Uptrend Broken Support stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Stock market alert is a warning signal. Uptrend Broken Support alert is a confirmation that long term uptrend reversal is completed and a new downtrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of support trendline. This point is considered as a second chance to sell long position (or open short positions) in uptrend reversal.

Uptrend Broken Support

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- 3/15/2024 -
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Pentair Ltd. (PNR) Technical Analysis

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range is overboughtLane's Stochastic is strongly overboughtStochastic has declined below the signal lineBroken trend resistance line
Daily :Stochastic has declined below the signal lineThe price has fallen below the Parabolic SARBroken trend resistance lineBullish Meeting Lines Candlestick
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It was the negative week for the Pentair Ltd. (PNR). During the week, the PNR gave back -0.59 points, or -0.73%, and closed at 80.63 on Friday, March 15, 2024. It was the worst weekly loss since January 5, 2024. Weekly volume was 16% above average.

PNR is a member of Industrials Sector. Industrials 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 PNR long-term trend chart]
A long-term downtrend had started on August 16, 2021 at 80.40 and reached 38.56 on October 21, 2022. PNR lost 41.84 points, or 52.04%, in 61 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (64.32) 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 PNR medium-term trend chart]
A medium-term uptrend had started on October 25, 2023 at 57.18 and reached 82.57 on March 12, 2024. PNR gained -25.39 points, or -44.40%, in 19 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 77.90 and resistance is at 81.56. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See PNR weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range or strongly overbought weekly Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. 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 December 15, 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 PNR short-term trend chart]
A short-term uptrend had started on January 4, 2024 at 68.08 and reached 82.57 on March 12, 2024. PNR gained -14.49 points, or -21.28%, in 68 days. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (76.88) 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 short-term trend.

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

The daily MACD line is above its signal line since February 22, 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 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.

Candlestick pattern: [See PNR candlestick chart pattern]
On Friday the chart has formed a Bullish Meeting Lines Candlestick pattern. This pattern appears during a decline, and it is a sign that a potential bullish reversal is in play. The reliability of the Bullish Meeting Lines Candlestick pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bullish Meeting Lines Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 72.85
Williams' Percentage Range (W%R) 33.20
Lane's Stochastic (%D-Slow) 78.55
Greed/Fear Indicator (GFI) 72.73
Moving Average Converg./Diverg. (MACD) 1.90
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 79.46
Williams' Percentage Range (W%R) 11.30
Overbought
Lane's Stochastic (%D-Slow) 91.39
Strong Overbought
Greed/Fear Indicator (GFI) 80.40
Overbought
Moving Average Converg./Diverg. (MACD) 3.08
Trading Signals
Description Value Chart
Upper Bollinger Band 83.67
Parabolic System 82.53
Monthly Trendline Resistance 81.56
Daily Stochastic Crossing 81.53
Weekly Stochastic Crossing 81.52
Price 80.63
Weekly Trendline Resistance 80.16
20 Day Moving Average 78.29
Monthly Trendline Support 77.90
Weekly Trendline Support 76.88
50 Day Moving Average 74.69
Lower Bollinger Band 73.51
Yearly Trendline Resistance 69.20
Sector and Industry
Description Name Rank
Sector Industrials 12
Industry Industrial Machinery 105
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 82.57
High Date 03/12/2024
Low 79.71
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 80.16
Support 76.88
Low 68.08
Low Date 01/04/2024
High 82.57
High Date 03/12/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 81.56
Support 77.90
Low 57.18
Low Date 10/25/2023
High 82.57
High Date 03/12/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 38.56
Low Date 10/21/2022
High 82.57
High Date 03/12/2024
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 69.20
Support 64.32
High 80.40
High Date 08/16/2021
Low 38.56
Low Date 10/21/2022
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.