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Archive
- 4/5/2024 -
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MarketAxess (MKTX) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was a first positive week for the MarketAxess (MKTX). During the week, the MKTX gained 6.14 points, or 2.80%, and closed at 225.39 on Friday, April 5, 2024. It was the best weekly gain since January 26, 2024. Weekly volume was -12% below average.
MKTX is a member of Financials Sector. Financials 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 MKTX long-term trend chart]
A long-term uptrend had started on September 28, 2023 at 200.01 and reached 297.35 on December 28, 2023. MKTX gained -97.34 points, or -48.67%, in 13 weeks. The price is now at the 73.93% retracement level.
 Medium-term trend: [See MKTX medium-term trend chart]
A medium-term downtrend had started on December 28, 2023 at 297.35 and reached 200.37 on March 5, 2024. MKTX lost 96.98 points, or 32.61%, in 9 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See MKTX weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish 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 link to access Lane's Stochastic help.
The weekly MACD line is below its signal line since February 9, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See MKTX short-term trend chart]
A short-term downtrend had started on March 12, 2024 at 227.31 and reached 210.70 on April 3, 2024. MKTX lost 16.61 points, or 7.31%, in 22 days. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (210.45) 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 short-term trend.
Daily Technical Indicators: [See MKTX daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since February 23, 2024. The distance between MACD and the signal line is low, but getting bigger.
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.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (6.41%) is close to one year low (7.14%). It is 64.71% 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.
During the last week, the price 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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