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Downtrend Broken Resist.Archive
- 10/11/2024 -
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Analog Devices (ADI) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week for the Analog Devices (ADI). During the week, the ADI gained 4.63 points, or 2.03%, and closed at 232.86 on Friday, October 11, 2024. Weekly volume was -41% below average.
 Long-term trend: [See ADI long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 133.48 and reached 244.14 on July 17, 2024. ADI gained -110.66 points, or -82.90%, in 91 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 174.61 and resistance is at 255.24. 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 ADI medium-term trend chart]
A medium-term downtrend had started on July 17, 2024 at 244.14 and reached 198.73 on August 5, 2024. ADI lost 45.41 points, or 18.60%, in 2 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (227.88) 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 medium-term trend.
 Weekly Technical Indicators: [See ADI weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since August 2, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.
Short-term trend: [See ADI short-term trend chart]
A short-term uptrend had started on September 6, 2024 at 212.70 and reached 235.76 on September 19, 2024. ADI gained -23.06 points, or -10.84%, in 13 days. The chart has formed a Symmetric Triangle chart pattern.
Daily Technical Indicators: [See ADI 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 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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