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Downtrend ResistanceArchive
- 12/13/2024 -
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Ametek (AME) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was the negative week for the Ametek (AME). During the week, the AME dropped -4.14 points, or -2.16%, and closed at 187.40 on Friday, December 13, 2024. It was the worst weekly loss since September 6, 2024. Weekly volume was -26% below average.
AME 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 AME long-term trend chart]
A long-term uptrend had started on June 17, 2022 at 106.20 and reached 198.30 on November 25, 2024. AME gained -92.10 points, or -86.72%, in 127 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 152.90 and resistance is at 211.50. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.
Medium-term trend: [See AME medium-term trend chart]
A medium-term uptrend had started on August 5, 2024 at 149.03 and reached 198.30 on November 25, 2024. AME gained -49.27 points, or -33.06%, in 16 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 183.24 and resistance is at 206.05. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See AME weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 weekly MACD line is above its signal line since September 20, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
 Short-term trend: [See AME short-term trend chart]
A short-term downtrend had started on November 25, 2024 at 198.30 and reached 187.20 on December 13, 2024. AME lost 11.10 points, or 5.60%, in 18 days. Price is near the trend low.
 Daily Technical Indicators: [See AME daily technical indicators chart]
Daily Williams' Percentage Range is oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Williams' Percentage Range or strongly oversold daily Lane's Stochastic.
The daily MACD line is below its signal line since November 26, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.
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