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- 3/15/2024 -
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Universal Health Services (UHS) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range and Lane's Stochastic are overboughtRelative Strength Index is strongly overboughtTrend resistance at 174.48
Daily :Stochastic signal line moved below overbought areaDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SAR
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It was the negative week for the Universal Health Services (UHS). During the week, the UHS dropped -1.79 points, or -1.02%, and closed at 173.90 on Friday, March 15, 2024. It was the worst weekly loss since October 13, 2023. UHS was trading at average weekly trading volume.

Long-term trend: [See UHS long-term trend chart]
A long-term downtrend had started on July 26, 2019 at 157.79 and reached 82.50 on October 21, 2022. UHS lost 75.29 points, or 47.72%, in 169 weeks. The chart has formed a Rising Wedge chart pattern. The price is near the trend resistance line (174.48). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.

Medium-term trend: [See UHS medium-term trend chart]
A medium-term uptrend had started on October 24, 2023 at 119.90 and reached 179.41 on March 7, 2024. UHS gained -59.51 points, or -49.63%, in 19 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 169.86 and resistance is at 180.97. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See UHS weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought while Relative Strength Index is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range and Lane's Stochastic or strongly overbought weekly Relative Strength Index. 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 November 17, 2023. 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 UHS short-term trend chart]
A short-term downtrend had started on March 7, 2024 at 179.41 and reached 169.50 on March 15, 2024. UHS lost 9.91 points, or 5.52%, in 8 days. The price is now at the 44.40% retracement level.

Daily Technical Indicators: [See UHS daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 64.06
Williams' Percentage Range (W%R) 52.90
Lane's Stochastic (%D-Slow) 53.88
Greed/Fear Indicator (GFI) 55.00
Moving Average Converg./Diverg. (MACD) 3.82
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 90.96
Strong Overbought
Williams' Percentage Range (W%R) 16.60
Overbought
Lane's Stochastic (%D-Slow) 85.28
Overbought
Greed/Fear Indicator (GFI) 76.99
Moving Average Converg./Diverg. (MACD) 6.85
Trading Signals
Description Value Chart
Upper Bollinger Band 181.03
Monthly Trendline Resistance 180.97
Parabolic System 178.81
Daily Stochastic Crossing 174.80
Weekly Stochastic Crossing 174.69
Yearly Trendline Resistance 174.48
Price 173.90
Monthly Trendline Support 169.86
20 Day Moving Average 169.67
50 Day Moving Average 162.96
Lower Bollinger Band 159.17
Sector and Industry
Description Name Rank
Sector Health Care 6
Industry Health Care Facilities 114
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 179.41
High Date 03/07/2024
Low 169.50
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 179.41
High Date 03/07/2024
Low 169.50
Low Date 03/15/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 180.97
Support 169.86
Low 119.90
Low Date 10/24/2023
High 179.41
High Date 03/07/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 82.50
Low Date 10/21/2022
High 179.41
High Date 03/07/2024
Description Value
Direction Down
Chart Pattern Rising Wedge
Status Test Resistance
Resistance 174.48
Support 91.76
High 157.79
High Date 07/26/2019
Low 82.50
Low Date 10/21/2022
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.