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Archive
- 11/8/2024 -
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Union Pacific (UNP) Technical Analysis
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| Summary:
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| | It was a second consecutive positive week for the Union Pacific (UNP). During the week, the UNP gained 8.80 points, or 3.78%, and closed at 241.50 on Friday, November 8, 2024. It was the best weekly gain since August 30, 2024. Weekly volume was 26% above average.
UNP is a member of Industrials Sector. Industrials 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 UNP long-term trend chart]
A long-term uptrend had started on March 23, 2023 at 183.69 and reached 258.66 on February 26, 2024. UNP gained -74.97 points, or -40.81%, in 48 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 233.05 and resistance is at 280.86. 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 long-term trend.
 Medium-term trend: [See UNP medium-term trend chart]
A medium-term uptrend had started on June 14, 2024 at 218.55 and reached 258.07 on September 4, 2024. UNP gained -39.52 points, or -18.08%, in 11 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (256.92) 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 medium-term trend.
 Weekly Technical Indicators: [See UNP weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since October 4, 2024. Use the following link to access a MACD help.
 Short-term trend: [See UNP short-term trend chart]
A short-term downtrend had started on September 4, 2024 at 258.07 and reached 227.56 on October 24, 2024. UNP lost 30.51 points, or 11.82%, in 50 days. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 222.38 and resistance is at 245.76. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a short-term trend.
Daily Technical Indicators: [See UNP daily technical indicators chart]
Daily technical indicators are neutral.
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.
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.
Price is close to the 50 Day Moving Average. 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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