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Downtrend Broken Resist.Archive
- 5/26/2023 -
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Arconic In (ARNC) |
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| Summary:
| | Weekly :  | | Daily :
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| | It was a second consecutive positive week for the Arconic In (ARNC). During the week, the ARNC climbed 0.02 points, or 0.07%, and closed at 28.90 on Friday, May 26, 2023. Weekly volume was 9% above average.
ARNC 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 ARNC long-term trend chart]
A long-term downtrend had started on January 5, 2022 at 35.74 and reached 16.33 on September 29, 2022. ARNC lost 19.41 points, or 54.31%, in 38 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (9.22) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. ARNC may retest the broken resistance line. It is considered to be a support 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 resistance line in a long-term trend.
 Medium-term trend: [See ARNC medium-term trend chart]
A medium-term uptrend had started on September 29, 2022 at 16.33 and reached 29.22 on May 8, 2023. ARNC gained -12.89 points, or -78.93%, in 31 weeks. Price is near the trend high.
 Weekly Technical Indicators: [See ARNC weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. 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 Williams' Percentage Range help.
The weekly MACD line is above its signal line since November 25, 2022. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See ARNC short-term trend chart]
A short-term uptrend had started on May 3, 2023 at 22.35 and reached 29.22 on May 8, 2023. ARNC gained -6.87 points, or -30.74%, in 5 days. The chart has formed a Rectangle chart pattern. The trend support level is at 28.77 and resistance is at 28.96. A rectangle chart pattern is characterized as a short-term horizontal channel and represents a trading range and indecision area that is usually resolves in the direction of the main trend. Chart analysis usually considers a rectangle pattern a continuation formation, but it can also mark significant top and bottom. A rectangle pattern within younger parent trend has more chances to mark a continuation. Use the following link to access a Rectangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rectangle pattern in a short-term trend.
Daily Technical Indicators: [See ARNC 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 MACD line has moved below its signal line. Such crossover is considered a bearish signal.
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