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Tires & Rubber Industry Stocks Technical Analysis - PCARArchive
- 4/19/2024 -
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PACCAR Inc. (PCAR) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the PACCAR Inc. (PCAR). During the week, the PCAR dropped -6.97 points, or -5.90%, and closed at 111.19 on Friday, April 19, 2024. Weekly volume was 11% above average.
PCAR is a member of Industrials Sector. Industrials is the second 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 PCAR long-term trend chart]
A long-term uptrend had started on March 6, 2009 at 20.38 and reached 125.50 on March 28, 2024. PCAR gained -105.12 points, or -515.80%, in 785 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (68.19) 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 long-term trend.
 Medium-term trend: [See PCAR medium-term trend chart]
A medium-term uptrend had started on November 1, 2023 at 80.94 and reached 125.50 on March 28, 2024. PCAR gained -44.56 points, or -55.05%, in 21 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (112.64) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.
 Weekly Technical Indicators: [See PCAR 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 June 2, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See PCAR short-term trend chart]
A short-term downtrend had started on March 28, 2024 at 125.50 and reached 110.35 on April 19, 2024. PCAR lost 15.15 points, or 12.07%, in 22 days. The price is now at the 5.54% retracement level.
 Daily Technical Indicators: [See PCAR daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Relative Strength Index and Lane's Stochastic. Use the following link to access Relative Strength Index help.
The daily MACD line is below its signal line since April 1, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its 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.
 Candlestick pattern: [See PCAR candlestick chart pattern]
On Friday the chart has formed a Bearish Three Black Crows Candlestick pattern. Use the Technical Stock Screener to see the list of stocks that had a Bearish Three Black Crows Candlestick pattern during the last week.
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