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Williams' Percentage Range (W%R) |
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Williams' %R is an effective momentum indicator that measures
overbought/oversold levels. Like other indicators, W%R ranges between 0% and
100% , but in opposite to the other indicators, the 0% indicating overbought and
100% - the oversold stocks. W%R measures the closing price in relation to the recent
low/high range. A bullish signal is generated when the W%R has reached 100,
five time bars have elapsed, and the W%R has subsequently fallen to 95. A
reverse signal is considered as bearish. For the sake of simplicity, the W%R
closed above 10% is considered bearish and below 90% - bullish. In trending
markets, the W%R stays at one end of the scale and gives false signals to
trade against the trend. That is why W%R is not considered a stand-along
technique, and it is essential to use it with some sort of trend formation
indicators. The divergence between price and W%R rarely occurs and presents an
important buy/sell signal. As our research shows, the W%R move to upper or lower
bounds can be used as an earliest signal of an impending reversal. Using the Williams %R bullish divergence/bearish divergence, chart patterns, trendlines, support, and resistance lines along with the W%R chart can be very useful.
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Advanced TA SearchArchive
- 9/22/2023 -
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Comerica Inc. (CMA) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
Move cursor over the icon to see details.
| | It was the negative week for the Comerica Inc. (CMA). During the week, the CMA dropped -2.35 points, or -5.39%, and closed at 41.22 on Friday, September 22, 2023. Weekly volume was -34% 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 downtrend had started on February 10, 2022 at 102.09 and reached 28.40 on May 4, 2023. CMA lost 73.69 points, or 72.18%, in 64 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 8.18 and resistance is at 54.41. 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.
 Medium-term trend: [See CMA medium-term trend chart]
A medium-term uptrend had started on May 4, 2023 at 28.40 and reached 55.83 on July 21, 2023. CMA gained -27.43 points, or -96.58%, in 11 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (67.05) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. CMA may retest the broken support line. It is considered to be a resistance 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 support in a medium-term trend.
 Weekly Technical Indicators: [See CMA weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since June 9, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See CMA short-term trend chart]
A short-term downtrend had started on September 1, 2023 at 49.25 and reached 40.69 on September 22, 2023. CMA lost 8.56 points, or 17.38%, in 21 days. The price is now at the 6.19% retracement level.
 Daily Technical Indicators: [See CMA daily technical indicators chart]
Daily Relative Strength Index is oversold while Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index or strongly oversold daily Williams' Percentage Range and Lane's Stochastic. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Daily MACD has bullish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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, Relative Strength Index and Williams' Percentage Range help.
The daily MACD line is below its signal line since September 5, 2023. This is an indication that the short-term trend is down.
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