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Advanced TA SearchArchive - 5/10/2024 - Sign In to see current Signals. |
Comerica Inc. (CMA) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was a fourth consecutive positive week for the Comerica Inc. (CMA). During the week, the CMA climbed 0.50 points, or 0.94%, and closed at 53.57 on Friday, May 10, 2024. Weekly volume was -44% below average. CMA is a member of Financials Sector. Financials 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 CMA long-term trend chart] A long-term uptrend had started on May 4, 2023 at 28.40 and reached 57.39 on December 14, 2023. CMA gained -28.99 points, or -102.08%, in 32 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 47.93 and resistance is at 58.93. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a long-term trend. Medium-term trend: [See CMA medium-term trend chart] A medium-term downtrend had started on December 14, 2023 at 57.39 and reached 47.63 on March 1, 2024. CMA lost 9.76 points, or 17.01%, in 11 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 50.14 and resistance is at 54.39. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a medium-term trend. Weekly Technical Indicators: [See CMA weekly technical indicators chart] Weekly technical indicators are neutral. The weekly MACD line is below its signal line since April 12, 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 CMA short-term trend chart] A short-term uptrend had started on April 17, 2024 at 49.27 and reached 54.19 on May 7, 2024. CMA gained -4.92 points, or -9.99%, in 20 days. The chart has formed a Rising Channel chart pattern. Daily Technical Indicators: [See CMA daily technical indicators chart] Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily 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 above its signal line since May 2, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.
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