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- 4/26/2024 -
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Seagate Technology (STX) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week after 3 consecutive negative weeks for the Seagate Technology (STX). During the week, the STX gained 3.58 points, or 4.34%, and closed at 86.04 on Friday, April 26, 2024. Weekly volume was 89% above average.
 Long-term trend: [See STX long-term trend chart]
A long-term downtrend had started on January 5, 2022 at 117.67 and reached 47.47 on November 3, 2022. STX lost 70.20 points, or 59.66%, in 43 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (69.51) is broken. A broken support is considered to be a long-term bullish 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 resistance line 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 101.26 on March 6, 2024. STX gained -46.94 points, or -86.41%, in 45 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 73.48 and resistance is at 107.71. 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 STX weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since March 28, 2024. Use the following link to access a MACD help.
 Short-term trend: [See STX short-term trend chart]
A short-term downtrend had started on March 6, 2024 at 101.26 and reached 82.31 on April 19, 2024. STX lost 18.95 points, or 18.71%, in 44 days. The chart has formed a Falling Wedge chart pattern. The trend support level is at 81.88 and resistance is at 92.75. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge pattern 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 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.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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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