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|It was a third consecutive positive week for the CDW (CDW). During the week, the CDW climbed 1.63 points, or 0.94%, and closed at 174.22 on Friday, May 26, 2023. Weekly volume was 10% above average. |
CDW is a member of Information Technology Sector. Information Technology 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 CDW long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 147.91 and reached 214.96 on February 16, 2023. CDW gained -67.05 points, or -45.33%, in 18 weeks. Price is near the Fibonacci 61.8% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Medium-term trend: [See CDW medium-term trend chart]
A medium-term uptrend had started on April 19, 2023 at 160.66 and reached 175.97 on May 19, 2023. CDW gained -15.31 points, or -9.53%, in 4 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 165.40 and resistance is at 177.62. 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 medium-term trend.
Weekly Technical Indicators: [See CDW weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range. During the last week, weekly 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since March 17, 2023. The distance between MACD and the signal line is relatively high, but getting smaller. Use the following link to access a MACD help.
Short-term trend: [See CDW short-term trend chart]
A short-term downtrend had started on May 19, 2023 at 175.97 and reached 167.57 on May 24, 2023. CDW lost 8.40 points, or 4.77%, in 5 days. The price is now at the 79.17% retracement level.
Daily Technical Indicators: [See CDW daily technical indicators chart]
Daily technical indicators are neutral. 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 May 5, 2023.