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Archive
- 11/24/2023 -
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MarketAxess (MKTX) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
Move cursor over the icon to see details.
| | It was a fourth consecutive positive week for the MarketAxess (MKTX). During the week, the MKTX gained 3.22 points, or 1.41%, and closed at 231.40 on Friday, November 24, 2023. Weekly volume was -45% 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 downtrend had started on April 4, 2023 at 399.78 and reached 200.01 on September 28, 2023. MKTX lost 199.77 points, or 49.97%, in 25 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (191.69) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. MKTX may retest the broken resistance line. It is considered to be a support line now. 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 MKTX medium-term trend chart]
A medium-term uptrend had started on October 25, 2023 at 203.21 and reached 235.85 on November 22, 2023. MKTX gained -32.64 points, or -16.06%, in 4 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 228.13 and resistance is at 234.18. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See MKTX weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since October 13, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See MKTX short-term trend chart]
A short-term uptrend had started on November 13, 2023 at 218.91 and reached 235.85 on November 22, 2023. MKTX gained -16.94 points, or -7.74%, in 9 days. The price is now at the 26.27% retracement level.
 Daily Technical Indicators: [See MKTX 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. 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 daily MACD line is above its signal line since November 8, 2023. This is an indication that the short-term trend is up.
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| Daily Oscillators |
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| Weekly Oscillators |
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| Trading
Signals |
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| Sector and
Industry |
| Description |
Name |
Rank |
| Sector |
Financials |
11 |
| Industry |
Financial Exchanges & Data |
104 |
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| Daily Trend |
| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Low |
218.91 |
| Low Date |
11/13/2023 |
| High |
235.85 |
| High Date |
11/22/2023 |
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| Weekly Trend |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Uptrend |
| Status |
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| Resistance |
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| Support |
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| Low |
218.91 |
| Low Date |
11/13/2023 |
| High |
235.85 |
| High Date |
11/22/2023 |
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| Description |
Value |
| Direction |
Up |
| Chart Pattern |
Rising Wedge |
| Status |
Valid |
| Resistance |
234.18 |
| Support |
228.13 |
| Low |
203.21 |
| Low Date |
10/25/2023 |
| High |
235.85 |
| High Date |
11/22/2023 |
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| Quarterly Trend |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
Falling Wedge |
| Status |
Broken Resistance |
| Resistance |
143.93 |
| Support |
191.69 |
| High |
399.78 |
| High Date |
04/04/2023 |
| Low |
200.01 |
| Low Date |
09/28/2023 |
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| Description |
Value |
| Direction |
Down |
| Chart Pattern |
DownTrend |
| Status |
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| Resistance |
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| Support |
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| High |
546.16 |
| High Date |
04/13/2021 |
| Low |
200.01 |
| Low Date |
09/28/2023 |
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