Ecolab Inc. (ECL)
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|It was the negative week for the Ecolab Inc. (ECL). During the week, the ECL dropped -8.36 points, or -4.77%, and closed at 166.91 on Friday, May 26, 2023. Weekly volume was -19% below average. |
ECL is a member of Materials Sector. Materials is the second most oversold 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 ECL long-term trend chart]
A long-term downtrend had started on November 22, 2021 at 238.93 and reached 131.04 on November 3, 2022. ECL lost 107.89 points, or 45.16%, in 49 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (112.59) 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 long-term trend.
Medium-term trend: [See ECL medium-term trend chart]
A medium-term uptrend had started on November 3, 2022 at 131.04 and reached 179.77 on May 3, 2023. ECL gained -48.73 points, or -37.19%, in 25 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend support (165.96) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.
Weekly Technical Indicators: [See ECL weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish 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 link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since November 11, 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 ECL short-term trend chart]
A short-term downtrend had started on May 3, 2023 at 179.77 and reached 165.26 on May 25, 2023. ECL lost 14.51 points, or 8.07%, in 22 days. The price is now at the 11.37% retracement level.
Daily Technical Indicators: [See ECL daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since May 16, 2023. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.
Price is close to the 50 Day Moving Average. While daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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.