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Uptrend Broken SupportArchive - 3/15/2024 - Sign In to see current Signals. |
Textron Inc. (TXT) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was a fourth consecutive positive week for the Textron Inc. (TXT). During the week, the TXT climbed 0.78 points, or 0.85%, and closed at 92.91 on Friday, March 15, 2024. Weekly volume was -16% below average. TXT 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 TXT long-term trend chart] A long-term uptrend had started on May 31, 2023 at 61.27 and reached 93.45 on March 8, 2024. TXT gained -32.18 points, or -52.52%, in 40 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (81.24) 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 TXT medium-term trend chart] A medium-term uptrend had started on November 29, 2023 at 74.13 and reached 93.45 on March 8, 2024. TXT gained -19.32 points, or -26.06%, in 14 weeks. Price is near the trend high. Weekly Technical Indicators: [See TXT 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 January 19, 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 TXT short-term trend chart] A short-term uptrend had started on January 17, 2024 at 76.98 and reached 93.45 on March 8, 2024. TXT gained -16.47 points, or -21.40%, in 51 days. Price is near the trend high. Daily Technical Indicators: [See TXT daily technical indicators chart] Daily Relative Strength Index and Williams' Percentage Range are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Daily MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily 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 February 28, 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.
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