IPG Photonics (IPGP)
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|It was a second consecutive positive week for the IPG Photonics (IPGP). During the week, the IPGP gained 2.30 points, or 2.05%, and closed at 114.61 on Friday, May 26, 2023. Weekly volume was -38% below average. |
IPGP 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 IPGP long-term trend chart]
A long-term uptrend had started on November 1, 2022 at 79.88 and reached 134.81 on February 16, 2023. IPGP gained -54.93 points, or -68.77%, in 15 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 131.87 and resistance is at 108.66. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend.
Medium-term trend: [See IPGP medium-term trend chart]
A medium-term downtrend had started on February 16, 2023 at 134.81 and reached 108.51 on April 27, 2023. IPGP lost 26.30 points, or 19.51%, in 10 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Weekly Technical Indicators: [See IPGP weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 21, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.
Short-term trend: [See IPGP short-term trend chart]
A short-term downtrend had started on March 31, 2023 at 123.44 and reached 108.51 on April 27, 2023. IPGP lost 14.93 points, or 12.09%, in 27 days. The chart has formed a Rectangle chart pattern. The trend support level is at 108.29 and resistance is at 122.34. 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 IPGP daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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 price has moved above 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. 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.