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- 9/8/2023 -
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Analog Devices (ADI) Technical Analysis
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|It was the negative week for the Analog Devices (ADI). During the week, the ADI dropped -4.96 points, or -2.72%, and closed at 177.47 on Friday, September 8, 2023. Weekly volume was 6% above average. |
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 Ascending Triangle chart pattern. The price is near the trend support (175.23) 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 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 168.54 on August 23, 2023. ADI lost 31.56 points, or 15.77%, in 3 weeks. The price is now at the 28.30% retracement level.
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. 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 August 23, 2023 at 168.54 and reached 183.96 on August 31, 2023. ADI gained -15.42 points, or -9.15%, in 8 days. The price is now at the 42.09% retracement level.
Daily Technical Indicators: [See ADI daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. 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 link to access Lane's Stochastic help.
The daily MACD line is above its signal line since August 28, 2023. 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.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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.