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Downtrend Broken Resist.Archive
- 11/8/2024 -
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Evergy (EVRG) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the Evergy (EVRG). During the week, the EVRG gained 2.82 points, or 4.74%, and closed at 62.34 on Friday, November 8, 2024. It was the best weekly gain since August 2, 2024. EVRG was trading at average weekly trading volume.
EVRG is a member of Utilities Sector. Utilities is the second 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 EVRG long-term trend chart]
A long-term downtrend had started on April 21, 2022 at 73.13 and reached 46.92 on October 6, 2023. EVRG lost 26.21 points, or 35.84%, in 76 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (33.30) 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 EVRG medium-term trend chart]
A medium-term uptrend had started on October 6, 2023 at 46.92 and reached 62.58 on September 24, 2024. EVRG gained -15.66 points, or -33.38%, in 50 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (53.04) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 medium-term trend.
 Weekly Technical Indicators: [See EVRG 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 above its signal line since November 24, 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 EVRG short-term trend chart]
A short-term downtrend had started on October 24, 2024 at 62.10 and reached 59.23 on November 4, 2024. EVRG lost 2.87 points, or 4.62%, in 11 days. The price is now at the 108.36% retracement level.
 Daily Technical Indicators: [See EVRG daily technical indicators chart]
Daily technical indicators are neutral. 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. Use the following link to access Lane's Stochastic help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
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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