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Archive
- 11/8/2024 -
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Quest Diagnostics (DGX) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a fourth consecutive positive week for the Quest Diagnostics (DGX). During the week, the DGX gained 4.10 points, or 2.64%, and closed at 159.40 on Friday, November 8, 2024. Weekly volume was -22% below average.
DGX is a member of Health Care Sector. Health Care is the second most oversold 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 DGX long-term trend chart]
A long-term downtrend had started on December 31, 2021 at 174.16 and reached 119.59 on October 2, 2023. DGX lost 54.57 points, or 31.33%, in 91 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (118.71) is broken. A broken support is considered to be a long-term bullish signal. 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 resistance line in a long-term trend.
 Medium-term trend: [See DGX medium-term trend chart]
A medium-term uptrend had started on February 1, 2024 at 123.04 and reached 160.95 on October 24, 2024. DGX gained -37.91 points, or -30.81%, in 38 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 148.86 and resistance is at 170.03. 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 medium-term trend.
 Weekly Technical Indicators: [See DGX weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. 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 Williams' Percentage Range help.
The weekly MACD line is below its signal line since October 4, 2024. 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 DGX short-term trend chart]
A short-term uptrend had started on October 7, 2024 at 146.17 and reached 160.95 on October 24, 2024. DGX gained -14.78 points, or -10.11%, in 17 days. The price is now at the 10.49% retracement level.
 Daily Technical Indicators: [See DGX daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since October 21, 2024. This is an indication that the short-term trend is up.
During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish 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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