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Downtrend ResistanceArchive
- 4/19/2024 -
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Henry Schein (HSIC) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Henry Schein (HSIC). During the week, the HSIC gave back -0.15 points, or -0.21%, and closed at 70.86 on Friday, April 19, 2024. Weekly volume was -10% below average.
 Long-term trend: [See HSIC long-term trend chart]
A long-term downtrend had started on April 14, 2022 at 92.68 and reached 60.01 on November 2, 2023. HSIC lost 32.67 points, or 35.25%, in 81 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 58.21 and resistance is at 84.38. A Falling 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 Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a long-term trend.
 Medium-term trend: [See HSIC medium-term trend chart]
A medium-term uptrend had started on November 2, 2023 at 60.01 and reached 82.63 on February 27, 2024. HSIC gained -22.62 points, or -37.69%, in 16 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (87.93) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. HSIC may retest the broken support line. It is considered to be a resistance line now. 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 support in a medium-term trend.
 Weekly Technical Indicators: [See HSIC weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 link to access Lane's Stochastic help.
The weekly MACD line is below its signal line since April 5, 2024. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.
 Short-term trend: [See HSIC short-term trend chart]
A short-term downtrend had started on March 28, 2024 at 76.15 and reached 69.48 on April 18, 2024. HSIC lost 6.67 points, or 8.76%, in 21 days. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (69.30) 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 short-term trend.
 Daily Technical Indicators: [See HSIC daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since April 1, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
A Parabolic SAR (stop and reversal) indicator (71.09) comes close to the price (70.86). It indicates that the trend is getting weaker. 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.
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