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Archive
- 12/20/2024 -
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Omnicom Group (OMC) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the Omnicom Group (OMC). During the week, the OMC dropped -1.46 points, or -1.62%, and closed at 88.86 on Friday, December 20, 2024. Weekly volume was 146% above average.
OMC is a member of Communication Services Sector. Communication Services 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 OMC long-term trend chart]
A long-term uptrend had started on October 29, 2020 at 44.50 and reached 107.00 on November 6, 2024. OMC gained -62.50 points, or -140.45%, in 209 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 84.17 and resistance is at 107.74. 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 long-term trend.
 Medium-term trend: [See OMC medium-term trend chart]
A medium-term uptrend had started on August 5, 2024 at 88.08 and reached 107.00 on November 6, 2024. OMC gained -18.92 points, or -21.48%, in 13 weeks. Price is near the lowest trend level.
 Weekly Technical Indicators: [See OMC weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold 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 below its signal line since November 15, 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 OMC short-term trend chart]
A short-term downtrend had started on November 6, 2024 at 107.00 and reached 86.92 on December 20, 2024. OMC lost 20.08 points, or 18.77%, in 44 days. The price is now at the 9.66% retracement level.
 Daily Technical Indicators: [See OMC daily technical indicators chart]
Daily Relative Strength Index is oversold while Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index or strongly oversold daily Williams' Percentage Range and Lane's Stochastic. Use the following links to access Lane's Stochastic and Relative Strength Index help.
The daily MACD line is below its signal line since December 6, 2024. This is an indication that the short-term trend is down.
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.
The distance between the Bollinger Bands (31.51%) is close to one year high (22.94%). It is 293.97% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell 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.
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