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Archive
- 11/8/2024 -
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STERIS plc (STE) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the STERIS plc (STE). During the week, the STE dropped -6.00 points, or -2.66%, and closed at 219.20 on Friday, November 8, 2024. Weekly volume was 157% above average.
STE 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 STE long-term trend chart]
A long-term uptrend had started on April 17, 2024 at 197.82 and reached 248.24 on September 13, 2024. STE gained -50.42 points, or -25.49%, in 21 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (231.79) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. STE may retest the broken support line. It is considered to be a resistance line now. 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 support in a long-term trend.
 Medium-term trend: [See STE medium-term trend chart]
A medium-term downtrend had started on September 13, 2024 at 248.24 and reached 211.30 on November 7, 2024. STE lost 36.94 points, or 14.88%, in 7 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See STE weekly technical indicators chart]
Weekly Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Lane's Stochastic or strongly oversold 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since October 4, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
Short-term trend: [See STE short-term trend chart]
A short-term downtrend had started on November 6, 2024 at 235.00 and reached 211.30 on November 7, 2024. STE lost 23.70 points, or 10.09%, in 1 days. The price is now at the 33.33% retracement level.
 Daily Technical Indicators: [See STE daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. Daily Relative Strength Index and Lane's Stochastic have bullish divergence. Use the following links to access the Relative Strength Index and Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index and Lane's Stochastic bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Relative Strength Index help.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
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 price touches the lower Bollinger Band. 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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