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Downtrend Broken Resist.Archive
- 4/5/2024 -
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Coty, Inc (COTY) Technical Analysis
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| Summary:
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| | It was the negative week for the Coty, Inc (COTY). During the week, the COTY dropped -0.93 points, or -7.78%, and closed at 11.03 on Friday, April 5, 2024. COTY was trading at average weekly trading volume.
 Long-term trend: [See COTY long-term trend chart]
A long-term uptrend had started on May 25, 2022 at 5.90 and reached 13.46 on July 12, 2023. COTY gained -7.56 points, or -128.14%, in 59 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 9.90 and resistance is at 17.05. 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 COTY medium-term trend chart]
A medium-term uptrend had started on November 1, 2023 at 9.02 and reached 13.30 on February 27, 2024. COTY gained -4.28 points, or -47.45%, in 16 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (12.73) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. COTY may retest the broken support line. It is considered to be a resistance 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 support in a medium-term trend.
 Weekly Technical Indicators: [See COTY weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since March 22, 2024. The distance between MACD and the signal line is low, but getting bigger. Use the following link to access a MACD help.
 Short-term trend: [See COTY short-term trend chart]
A short-term downtrend had started on March 28, 2024 at 11.99 and reached 10.84 on April 3, 2024. COTY lost 1.15 points, or 9.59%, in 6 days. The price is now at the 16.52% retracement level.
 Daily Technical Indicators: [See COTY daily technical indicators chart]
Daily Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily strongly oversold Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Daily Lane's Stochastic has bullish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 daily MACD line is below its signal line since March 7, 2024. This is an indication that the short-term trend is down.
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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