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Archive
- 4/26/2024 -
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FleetCor T (FLT) 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 FleetCor T (FLT). During the week, the FLT gained 9.51 points, or 3.23%, and closed at 303.80 on Friday, April 26, 2024. Weekly volume was -23% below average.
 Long-term trend: [See FLT long-term trend chart]
A long-term uptrend had started on October 21, 2022 at 161.69 and reached 319.94 on March 25, 2024. FLT gained -158.25 points, or -97.87%, in 74 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 248.15 and resistance is at 331.93. 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 FLT medium-term trend chart]
A medium-term uptrend had started on October 30, 2023 at 220.39 and reached 319.94 on March 25, 2024. FLT gained -99.55 points, or -45.17%, in 21 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 290.01 and resistance is at 332.90. 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 FLT weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since December 15, 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 FLT short-term trend chart]
A short-term downtrend had started on March 25, 2024 at 319.94 and reached 293.01 on April 19, 2024. FLT lost 26.93 points, or 8.42%, in 25 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See FLT 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.
The daily MACD line is below its signal line since April 4, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
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.
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