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Health Care Equipment Industry Stocks Technical Analysis - EWArchive
- 11/8/2024 -
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Edwards Lifesciences (EW) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the Edwards Lifesciences (EW). During the week, the EW dropped -1.31 points, or -1.94%, and closed at 66.23 on Friday, November 8, 2024. Weekly volume was -9% below average.
EW is a member of Health Care Sector. Health Care is the second most oversold 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 EW long-term trend chart]
A long-term downtrend had started on December 30, 2021 at 131.73 and reached 58.93 on July 25, 2024. EW lost 72.80 points, or 55.26%, in 134 weeks. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 53.61 and resistance is at 97.16. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a long-term trend.
Medium-term trend: [See EW medium-term trend chart]
A medium-term downtrend had started on March 28, 2024 at 96.12 and reached 58.93 on July 25, 2024. EW lost 37.19 points, or 38.69%, in 17 weeks. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 27.16 and resistance is at 94.21. Use the following link to access a Broadening Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See EW weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since May 3, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See EW short-term trend chart]
A short-term downtrend had started on October 28, 2024 at 72.15 and reached 65.26 on November 7, 2024. EW lost 6.89 points, or 9.55%, in 10 days. The chart has formed a Falling Wedge chart pattern. The trend support level is at 65.14 and resistance is at 67.16. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See EW 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. 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 daily MACD line is below its signal line since October 30, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.
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