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Uptrend Broken SupportArchive
- 1/17/2025 -
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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 after 10 consecutive negative weeks for the MarketAxess (MKTX). During the week, the MKTX gained 5.00 points, or 2.32%, and closed at 220.50 on Friday, January 17, 2025. It was the best weekly gain since October 18, 2024. MKTX was trading at average weekly trading volume.
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 13, 2021 at 546.16 and reached 192.42 on June 25, 2024. MKTX lost 353.74 points, or 64.77%, in 167 weeks. The chart has formed a Falling Wedge chart pattern. The trend support level is at 183.02 and resistance is at 285.14. 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 long-term trend.
 Medium-term trend: [See MKTX medium-term trend chart]
A medium-term uptrend had started on June 25, 2024 at 192.42 and reached 296.70 on October 30, 2024. MKTX gained -104.28 points, or -54.19%, in 18 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (323.72) 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 MKTX weekly technical indicators chart]
Weekly Relative Strength Index and Williams' Percentage Range are oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Relative Strength Index and Williams' Percentage Range or strongly oversold weekly Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is below its signal line since November 29, 2024. The distance between MACD and the signal line is near its high and getting bigger. 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 January 13, 2025 at 210.80 and reached 224.10 on January 17, 2025. MKTX gained -13.30 points, or -6.31%, in 4 days. The price is now at the 27.07% retracement level.
 Daily Technical Indicators: [See MKTX daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal.
The daily MACD line is above its signal line since December 24, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.
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.
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