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- 3/15/2024 -
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L3Harris T (LHX) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken trend support lineWilliams' Percentage Range is overboughtBroken trend resistance line
Daily :The price has fallen below the Parabolic SARThe price is close to the moving average in the center of the Bollinger BandsThe Bollinger Bands are historically close together
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It was the negative week for the L3Harris T (LHX). During the week, the LHX gave back -1.74 points, or -0.81%, and closed at 212.86 on Friday, March 15, 2024. LHX was trading at average weekly trading volume.

LHX 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 LHX long-term trend chart]
A long-term downtrend had started on March 7, 2022 at 279.71 and reached 160.25 on October 6, 2023. LHX lost 119.46 points, or 42.71%, in 82 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (142.01) 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 LHX medium-term trend chart]
A medium-term uptrend had started on October 6, 2023 at 160.25 and reached 218.34 on March 5, 2024. LHX gained -58.09 points, or -36.25%, in 21 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (221.84) 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 LHX 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 October 20, 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 LHX short-term trend chart]
A short-term downtrend had started on March 5, 2024 at 218.34 and reached 210.82 on March 14, 2024. LHX lost 7.52 points, or 3.44%, in 9 days. The chart has formed a Falling Wedge chart pattern. The trend support level is at 210.55 and resistance is at 214.14. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern in a short-term trend.

Daily Technical Indicators: [See LHX daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since March 6, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 is close to the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (2.89%) is close to one year low (3.73%). It is 67.36% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.24
Williams' Percentage Range (W%R) 77.40
Lane's Stochastic (%D-Slow) 49.44
Greed/Fear Indicator (GFI) 41.42
Moving Average Converg./Diverg. (MACD) 1.49
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.71
Williams' Percentage Range (W%R) 14.80
Overbought
Lane's Stochastic (%D-Slow) 78.90
Greed/Fear Indicator (GFI) 71.95
Moving Average Converg./Diverg. (MACD) 5.35
Trading Signals
Description Value Chart
Quarterly Trendline Support 221.84
Monthly Trendline Resistance 220.29
Parabolic System 218.40
Quarterly Trendline Resistance 218.25
Upper Bollinger Band 215.93
Weekly Stochastic Crossing 214.92
Weekly Trendline Resistance 214.14
Daily Stochastic Crossing 213.52
20 Day Moving Average 213.34
Price 212.86
Monthly Trendline Support 211.72
Weekly Trendline Support 210.55
Lower Bollinger Band 209.77
50 Day Moving Average 209.70
Sector and Industry
Description Name Rank
Sector Industrials 12
Industry Aerospace & Defense 55
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 210.82
Low Date 03/14/2024
High 214.52
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Valid
Resistance 214.14
Support 210.55
High 218.34
High Date 03/05/2024
Low 210.82
Low Date 03/14/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 220.29
Support 211.72
Low 201.04
Low Date 01/11/2024
High 218.34
High Date 03/05/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 218.25
Support 221.84
Low 160.25
Low Date 10/06/2023
High 218.34
High Date 03/05/2024
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 148.51
Support 142.01
High 279.71
High Date 03/07/2022
Low 160.25
Low Date 10/06/2023
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.