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Archive
- 11/8/2024 -
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Seagate Technology (STX) Technical Analysis
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| Summary:
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| | It was a first positive week for the Seagate Technology (STX). During the week, the STX gained 5.86 points, or 5.92%, and closed at 104.80 on Friday, November 8, 2024. It was the best weekly gain since June 14, 2024. Weekly volume was -24% below average.
STX is a member of Information Technology Sector. Information Technology 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 STX long-term trend chart]
A long-term uptrend had started on May 12, 2016 at 18.42 and reached 117.67 on January 5, 2022. STX gained -99.25 points, or -538.82%, in 294 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 57.66 and resistance is at 159.57. 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 long-term trend.
Medium-term trend: [See STX medium-term trend chart]
A medium-term uptrend had started on April 21, 2023 at 54.32 and reached 115.32 on October 15, 2024. STX gained -61.00 points, or -112.30%, in 77 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 99.36 and resistance is at 126.34. 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 STX weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since October 25, 2024. Use the following link to access a MACD help.
 Short-term trend: [See STX short-term trend chart]
A short-term uptrend had started on August 5, 2024 at 90.00 and reached 115.32 on October 15, 2024. STX gained -25.32 points, or -28.13%, in 71 days. The chart has formed a Rising Channel chart pattern. The uptrend support line (107.20) is broken. A broken support is considered to be a long-term bearish signal. 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 short-term trend.
Daily Technical Indicators: [See STX daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). 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 daily MACD line is below its signal line since October 22, 2024. The distance between MACD and the signal line is low and getting smaller.
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.
During the last week, the price has moved above 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.
During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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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