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Uptrend ExhaustionArchive
- 6/7/2024 -
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Corteva (CTVA) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Corteva (CTVA). During the week, the CTVA dropped -3.04 points, or -5.43%, and closed at 52.90 on Friday, June 7, 2024. It was the worst weekly loss since April 12, 2024. Weekly volume was -32% below average.
CTVA is a member of Materials Sector. Materials 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 CTVA long-term trend chart]
A long-term downtrend had started on November 2, 2022 at 68.43 and reached 43.22 on November 13, 2023. CTVA lost 25.21 points, or 36.84%, in 53 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Medium-term trend: [See CTVA medium-term trend chart]
A medium-term downtrend had started on May 10, 2024 at 58.76 and reached 52.72 on June 7, 2024. CTVA lost 6.04 points, or 10.28%, in 4 weeks. The chart has formed a Falling Channel chart pattern. The price is near the trend support (52.86) 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 medium-term trend.
 Weekly Technical Indicators: [See CTVA weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since December 22, 2023. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.
Short-term trend: [See CTVA short-term trend chart]
A short-term downtrend had started on June 6, 2024 at 55.01 and reached 52.72 on June 7, 2024. CTVA lost 2.29 points, or 4.16%, in 1 days. The price is now at the 7.86% retracement level.
Daily Technical Indicators: [See CTVA daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since May 16, 2024. This is an indication that the short-term trend is down.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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