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Archive
- 11/8/2024 -
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Perrigo Co (PRGO) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a second consecutive positive week for the Perrigo Co (PRGO). During the week, the PRGO gained 0.27 points, or 1.03%, and closed at 26.36 on Friday, November 8, 2024. Weekly volume was 38% above average.
PRGO is a member of Health Care Sector. Health Care is the second most oversold 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 PRGO long-term trend chart]
A long-term downtrend had started on February 25, 2020 at 63.86 and reached 23.89 on October 10, 2024. PRGO lost 39.97 points, or 62.59%, in 241 weeks. The chart has formed a Falling Wedge chart pattern. The price is near the trend resistance line (25.66). The resistance is usually stronger when technical indicators are overbought. 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 resistance line in a long-term trend.
 Medium-term trend: [See PRGO medium-term trend chart]
A medium-term downtrend had started on January 9, 2024 at 34.60 and reached 23.89 on October 10, 2024. PRGO lost 10.71 points, or 30.95%, in 39 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See PRGO weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved above oversold area. 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 link to access Lane's Stochastic help.
The weekly MACD line is below its signal line since September 27, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See PRGO short-term trend chart]
A short-term downtrend had started on August 26, 2024 at 29.74 and reached 23.89 on October 10, 2024. PRGO lost 5.85 points, or 19.67%, in 45 days. The chart has formed a Broadening Descending Wedge chart pattern.
Daily Technical Indicators: [See PRGO daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since October 16, 2024.
During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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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