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Archive
- 4/5/2024 -
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State Street Corp. (STT) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the State Street Corp. (STT). During the week, the STT dropped -1.52 points, or -1.97%, and closed at 75.80 on Friday, April 5, 2024. It was the worst weekly loss since February 2, 2024. Weekly volume was -12% below average.
STT 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 STT long-term trend chart]
A long-term downtrend had started on January 13, 2022 at 104.87 and reached 58.62 on October 13, 2022. STT lost 46.25 points, or 44.10%, in 39 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 64.52 and resistance is at 84.09. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend.
 Medium-term trend: [See STT medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 62.78 and reached 79.90 on January 19, 2024. STT gained -17.12 points, or -27.27%, in 12 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (72.99) 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 medium-term trend.
 Weekly Technical Indicators: [See STT weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since March 22, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See STT short-term trend chart]
A short-term uptrend had started on February 13, 2024 at 70.53 and reached 78.50 on April 4, 2024. STT gained -7.97 points, or -11.30%, in 51 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 71.35 and resistance is at 78.66. 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 short-term trend.
Daily Technical Indicators: [See STT daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish 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 daily MACD line is above its signal line since March 15, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
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.
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