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Uptrend ExhaustionArchive
- 12/13/2024 -
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M&T Bank Corp. (MTB) Technical Analysis
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| Summary:
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| | It was the negative week for the M&T Bank Corp. (MTB). During the week, the MTB dropped -11.96 points, or -5.66%, and closed at 199.30 on Friday, December 13, 2024. It was the worst weekly loss since August 2, 2024. Weekly volume was 55% above average.
MTB 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 MTB long-term trend chart]
A long-term downtrend had started on August 16, 2022 at 193.42 and reached 108.53 on October 27, 2023. MTB lost 84.89 points, or 43.89%, in 62 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (106.60) 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 MTB medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 108.53 and reached 225.70 on November 25, 2024. MTB gained -117.17 points, or -107.96%, in 56 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (167.05) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 medium-term trend.
 Weekly Technical Indicators: [See MTB weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since July 5, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See MTB short-term trend chart]
A short-term downtrend had started on November 25, 2024 at 225.70 and reached 197.30 on December 13, 2024. MTB lost 28.40 points, or 12.58%, in 18 days. The price is now at the 7.04% retracement level.
 Daily Technical Indicators: [See MTB daily technical indicators chart]
Daily 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 daily Relative Strength Index and Williams' Percentage Range or strongly oversold daily Lane's Stochastic. 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. Use the following links to access Relative Strength Index and Williams' Percentage Range help.
The daily MACD line is below its signal line since November 27, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.
During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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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