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- 11/24/2023 -
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Analog Devices (ADI) Technical Analysis
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| During the week, the ADI has not change and closed at 183.05 on Friday, November 24, 2023. ADI was trading at average weekly trading volume. |
ADI is a member of Information Technology Sector. Information Technology 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 ADI long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 133.48 and reached 200.10 on July 31, 2023. ADI gained -66.62 points, or -49.91%, in 41 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (185.21) is broken. A broken support is considered to be a long-term bearish 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 support in a long-term trend.
Medium-term trend: [See ADI medium-term trend chart]
A medium-term downtrend had started on July 31, 2023 at 200.10 and reached 154.99 on October 30, 2023. ADI lost 45.11 points, or 22.54%, in 13 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (149.80) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. ADI may retest the broken resistance line. It is considered to be a support 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 resistance line in a medium-term trend.
Weekly Technical Indicators: [See ADI weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since August 4, 2023. 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 ADI short-term trend chart]
A short-term uptrend had started on October 30, 2023 at 154.99 and reached 184.70 on November 20, 2023. ADI gained -29.71 points, or -19.17%, in 21 days. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (182.42) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a short-term trend.
Daily Technical Indicators: [See ADI daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range. 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. 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 above its signal line since November 2, 2023. This is an indication that the short-term trend is up.
The distance between the Bollinger Bands is 100.35% higher then one year average. It indicates the period of high volatility of the stock price. 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.