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Archive
- 12/13/2024 -
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Vanguard Information Technology ETF (VGT) Technical Analysis
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| Summary:
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| | It was the negative week for the Vanguard Information Technology ETF (VGT). During the week, the VGT gave back -4.14 points, or -0.64%, and closed at 640.40 on Friday, December 13, 2024. Weekly volume was 6% above average.
 Long-term trend: [See VGT long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 291.61 and reached 646.49 on December 6, 2024. VGT gained -354.88 points, or -121.70%, in 112 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 531.78 and resistance is at 679.44. 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 VGT medium-term trend chart]
A medium-term uptrend had started on October 26, 2023 at 397.76 and reached 646.49 on December 6, 2024. VGT gained -248.73 points, or -62.53%, in 58 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 549.98 and resistance is at 698.34. 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 VGT weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Weekly Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since October 11, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See VGT short-term trend chart]
A short-term uptrend had started on August 5, 2024 at 494.12 and reached 646.49 on December 6, 2024. VGT gained -152.37 points, or -30.84%, in 123 days. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (625.21) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 short-term trend.
 Daily Technical Indicators: [See VGT daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.
The daily MACD line is above its signal line since November 29, 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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