- 5/26/2023 -
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Fortive Corp (FTV)
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|It was a second consecutive positive week for the Fortive Corp (FTV). During the week, the FTV gained 2.12 points, or 3.23%, and closed at 67.82 on Friday, May 26, 2023. Weekly volume was 33% above average. |
FTV is a member of Industrials Sector. Industrials 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 FTV long-term trend chart]
A long-term downtrend had started on April 24, 2019 at 89.48 and reached 37.31 on March 18, 2020. FTV lost 52.17 points, or 58.30%, in 47 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 58.15 and resistance is at 68.92. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend.
Medium-term trend: [See FTV medium-term trend chart]
A medium-term uptrend had started on July 14, 2022 at 52.47 and reached 69.78 on February 9, 2023. FTV gained -17.31 points, or -32.99%, in 30 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend support line (71.95) is broken. A broken support is considered to be a long-term bearish 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 support in a medium-term trend.
Weekly Technical Indicators: [See FTV weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since March 10, 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 FTV short-term trend chart]
A short-term uptrend had started on April 26, 2023 at 62.70 and reached 68.31 on May 26, 2023. FTV gained -5.61 points, or -8.95%, in 30 days. The price is now at the 8.73% retracement level.
Daily Technical Indicators: [See FTV daily technical indicators chart]
Daily technical indicators are neutral. Daily MACD has bearish 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 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.
The daily MACD line is above its signal line since May 9, 2023. This is an indication that the short-term trend is up.
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.