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Downtrend Broken Resist.Archive
- 7/19/2024 -
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Cincinnati Financial (CINF) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the Cincinnati Financial (CINF). During the week, the CINF dropped -1.31 points, or -1.07%, and closed at 121.03 on Friday, July 19, 2024. CINF was trading at average weekly trading volume.
CINF is a member of Financials Sector. Financials 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 CINF long-term trend chart]
A long-term downtrend had started on April 21, 2022 at 143.22 and reached 88.66 on September 26, 2022. CINF lost 54.56 points, or 38.10%, in 22 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (103.95) 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. CINF 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 CINF medium-term trend chart]
A medium-term uptrend had started on April 26, 2024 at 109.93 and reached 128.23 on July 18, 2024. CINF gained -18.30 points, or -16.65%, in 11 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See CINF weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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.
During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help.
 Short-term trend: [See CINF short-term trend chart]
A short-term uptrend had started on June 14, 2024 at 111.92 and reached 128.23 on July 18, 2024. CINF gained -16.31 points, or -14.57%, in 34 days. The chart has formed a Broadening Ascending Wedge chart pattern.
Daily Technical Indicators: [See CINF daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range.
The daily MACD line is above its signal line since June 20, 2024. This is an indication that the short-term trend is up.
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.
During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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.
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