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Downtrend Broken Resist.Archive
- 4/5/2024 -
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L3Harris T (LHX) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the L3Harris T (LHX). During the week, the LHX dropped -4.14 points, or -1.94%, and closed at 208.96 on Friday, April 5, 2024. Weekly volume was 27% above average.
LHX is a member of Industrials Sector. Industrials 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 LHX long-term trend chart]
A long-term downtrend had started on March 7, 2022 at 279.71 and reached 160.25 on October 6, 2023. LHX lost 119.46 points, or 42.71%, in 82 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (139.71) 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 LHX medium-term trend chart]
A medium-term downtrend had started on March 5, 2024 at 218.34 and reached 203.03 on April 3, 2024. LHX lost 15.31 points, or 7.01%, in 4 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 203.82 and resistance is at 213.03. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See LHX weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since October 20, 2023. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.
 Short-term trend: [See LHX short-term trend chart]
A short-term uptrend had started on April 3, 2024 at 203.03 and reached 210.03 on April 4, 2024. LHX gained -7.00 points, or -3.45%, in 1 days. The price is now at the 15.29% retracement level.
Daily Technical Indicators: [See LHX daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since March 6, 2024.
A Parabolic SAR (stop and reversal) indicator (210.17) comes close to the price (208.96). It indicates that the trend is getting weaker. 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 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.
During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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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