The Greedy Trader Weekly Analysis
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- 3/15/2024 -
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Mettler Toledo (MTD) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range is overboughtBroken trend resistance line
Daily :Stochastic signal line moved below overbought areaThe price has fallen below the Parabolic SAR
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It was a fifth consecutive positive week for the Mettler Toledo (MTD). During the week, the MTD climbed 10.60 points, or 0.81%, and closed at 1324.45 on Friday, March 15, 2024. MTD was trading at average weekly trading volume.

Long-term trend: [See MTD long-term trend chart]
A long-term downtrend had started on April 18, 2023 at 1615.97 and reached 928.50 on October 30, 2023. MTD lost 687.47 points, or 42.54%, in 27 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (1082.93) 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 MTD medium-term trend chart]
A medium-term uptrend had started on October 30, 2023 at 928.50 and reached 1364.59 on March 8, 2024. MTD gained -436.09 points, or -46.97%, in 18 weeks. The price is now at the 9.20% retracement level.

Weekly Technical Indicators: [See MTD 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 November 24, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See MTD short-term trend chart]
A short-term uptrend had started on February 13, 2024 at 1133.46 and reached 1364.59 on March 8, 2024. MTD gained -231.13 points, or -20.39%, in 24 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 1301.88 and resistance is at 1421.12. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a short-term trend.

Daily Technical Indicators: [See MTD daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since February 26, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 74.06
Williams' Percentage Range (W%R) 39.70
Lane's Stochastic (%D-Slow) 50.34
Greed/Fear Indicator (GFI) 61.56
Moving Average Converg./Diverg. (MACD) 27.24
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 74.22
Williams' Percentage Range (W%R) 17.30
Overbought
Lane's Stochastic (%D-Slow) 74.83
Greed/Fear Indicator (GFI) 71.49
Moving Average Converg./Diverg. (MACD) -7.56
Trading Signals
Description Value Chart
Weekly Trendline Resistance 1421.12
Upper Bollinger Band 1374.18
Parabolic System 1350.05
Daily Stochastic Crossing 1325.12
Price 1324.45
Weekly Stochastic Crossing 1315.33
Weekly Trendline Support 1301.88
20 Day Moving Average 1259.97
50 Day Moving Average 1219.18
Quarterly Trendline Resistance 1201.29
Lower Bollinger Band 1165.60
Quarterly Trendline Support 1082.93
Sector and Industry
Description Name Rank
Sector Health Care 6
Industry Life Sciences Tools & Services 102
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 1364.59
High Date 03/08/2024
Low 1287.32
Low Date 03/13/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 1421.12
Support 1301.88
Low 1133.46
Low Date 02/13/2024
High 1364.59
High Date 03/08/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 928.50
Low Date 10/30/2023
High 1364.59
High Date 03/08/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 1201.29
Support 1082.93
High 1615.97
High Date 04/18/2023
Low 928.50
Low Date 10/30/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 1714.75
High Date 12/30/2021
Low 928.50
Low Date 10/30/2023
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.