The Greedy Trader Weekly Analysis
Sign In May 24, 2024
Skip Navigation Links
Share
Symbol:  

• Symbol Lookup
• View Technical Chart
• Add to Watch List
• Candlestick Patterns - N/A
• Stock Technical Indicators
• Stock Trends Analysis
• Market Sector Rank
• Stock Trading Signals

Archive
- 5/17/2024 -
Sign In to see current Signals.

Flowserve Corp. (FLS) Technical Analysis

Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionLane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtLane's Stochastic and MACD bearish divergence
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtStochastic has declined below the signal lineA Parabolic SAR indicator is above and near the price
Move cursor over the icon to see details.

It was a fourth consecutive positive week for the Flowserve Corp. (FLS). During the week, the FLS climbed 0.04 points, or 0.08%, and closed at 49.63 on Friday, May 17, 2024. Weekly volume was -23% below average.

Long-term trend: [See FLS long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 23.89 and reached 50.49 on May 16, 2024. FLS gained -26.60 points, or -111.34%, in 83 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (41.83) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 FLS medium-term trend chart]
A medium-term uptrend had started on October 25, 2023 at 35.32 and reached 50.49 on May 16, 2024. FLS gained -15.17 points, or -42.95%, in 29 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 47.66 and resistance is at 50.84. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See FLS weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD bearish 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 and Williams' Percentage Range help.

The weekly MACD line is above its signal line since December 15, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See FLS short-term trend chart]
A short-term uptrend had started on April 17, 2024 at 45.42 and reached 50.49 on May 16, 2024. FLS gained -5.07 points, or -11.16%, in 29 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 47.40 and resistance is at 50.69. 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 short-term trend.

Daily Technical Indicators: [See FLS 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. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal.

The daily MACD line is above its signal line since May 2, 2024. This is an indication that the short-term trend is up.

A Parabolic SAR (stop and reversal) indicator (49.26) comes close to the price (49.63). It indicates that the trend is getting weaker. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 76.60
Williams' Percentage Range (W%R) 11.30
Overbought
Lane's Stochastic (%D-Slow) 81.31
Overbought
Greed/Fear Indicator (GFI) 82.21
Overbought
Moving Average Converg./Diverg. (MACD) 0.87
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 79.35
Williams' Percentage Range (W%R) 4.90
Strong Overbought
Lane's Stochastic (%D-Slow) 80.25
Overbought Bearish
Greed/Fear Indicator (GFI) 81.54
Overbought
Moving Average Converg./Diverg. (MACD) 2.09 Bearish
Trading Signals
Description Value Chart
Upper Bollinger Band 50.95
Monthly Trendline Resistance 50.84
Weekly Trendline Resistance 50.69
Daily Stochastic Crossing 50.06
Weekly Stochastic Crossing 49.63
Price 49.63
Parabolic System 49.26
20 Day Moving Average 48.12
Monthly Trendline Support 47.66
Weekly Trendline Support 47.40
50 Day Moving Average 46.73
Quarterly Trendline Resistance 45.89
Lower Bollinger Band 45.77
Quarterly Trendline Support 41.83
Sector and Industry
Description Name Rank
Sector Industrials 7
Industry Industrial Machinery 75
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 50.49
High Date 05/16/2024
Low 49.49
Low Date 05/17/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 50.69
Support 47.40
Low 45.42
Low Date 04/17/2024
High 50.49
High Date 05/16/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 50.84
Support 47.66
Low 35.32
Low Date 10/25/2023
High 50.49
High Date 05/16/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 45.89
Support 41.83
Low 23.89
Low Date 10/13/2022
High 50.49
High Date 05/16/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 18.98
Low Date 03/23/2020
High 50.49
High Date 05/16/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.