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Archive
- 4/5/2024 -
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Waters Corporation (WAT) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the Waters Corporation (WAT). During the week, the WAT dropped -8.29 points, or -2.41%, and closed at 335.94 on Friday, April 5, 2024. It was the worst weekly loss since January 5, 2024. Weekly volume was -42% below average.
 Long-term trend: [See WAT long-term trend chart]
A long-term downtrend had started on September 8, 2021 at 428.22 and reached 231.90 on October 25, 2023. WAT lost 196.32 points, or 45.85%, in 111 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (217.45) 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 WAT medium-term trend chart]
A medium-term uptrend had started on October 25, 2023 at 231.90 and reached 363.80 on March 8, 2024. WAT gained -131.90 points, or -56.88%, in 19 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (363.31) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. WAT may retest the broken support line. It is considered to be a resistance line now. 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 WAT weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 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 low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See WAT short-term trend chart]
A short-term downtrend had started on March 28, 2024 at 347.22 and reached 333.47 on April 4, 2024. WAT lost 13.75 points, or 3.96%, in 7 days. The price is now at the 17.96% retracement level.
 Daily Technical Indicators: [See WAT daily technical indicators chart]
Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily Williams' Percentage Range. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since March 14, 2024. This is an indication that the short-term trend is down.
During the last week, the price has declined below 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. While daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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.
 Candlestick pattern: [See WAT candlestick chart pattern]
On Friday the chart has formed a Bullish Harami Candlestick pattern. A Bullish Harami indicates that the bearish trend may be reversing, it signals that it's a good time to enter into a long position. Use the Technical Stock Screener to see the list of stocks that had a Bullish Harami Candlestick pattern during the last week.
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