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Uptrend ExhaustionArchive
- 12/13/2024 -
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Raymond James Financial (RJF) Technical Analysis
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| Summary:
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| | It was the negative week for the Raymond James Financial (RJF). During the week, the RJF dropped -2.90 points, or -1.77%, and closed at 160.50 on Friday, December 13, 2024. RJF was trading at average weekly trading volume.
RJF 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 RJF long-term trend chart]
A long-term uptrend had started on October 25, 2023 at 91.67 and reached 171.40 on November 29, 2024. RJF gained -79.73 points, or -86.98%, in 57 weeks. The price is now at the 13.67% retracement level.
 Medium-term trend: [See RJF medium-term trend chart]
A medium-term uptrend had started on August 5, 2024 at 104.24 and reached 171.40 on November 29, 2024. RJF gained -67.16 points, or -64.43%, in 16 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 140.88 and resistance is at 179.40. 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 medium-term trend.
 Weekly Technical Indicators: [See RJF weekly technical indicators chart]
Weekly Relative Strength Index and Williams' Percentage Range are overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Williams' Percentage Range or strongly 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The weekly MACD line is above its signal line since September 20, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current medium-term uptrend is still strong, and momentum is beginning to wane. Use the following link to access a MACD help.
 Short-term trend: [See RJF short-term trend chart]
A short-term downtrend had started on November 29, 2024 at 171.40 and reached 159.00 on December 13, 2024. RJF lost 12.40 points, or 7.23%, in 14 days. The price is now at the 12.10% retracement level.
 Daily Technical Indicators: [See RJF daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic.
The daily MACD line is below its signal line since November 19, 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 declined below the moving average in the center of the Bollinger Bands. 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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