AFLAC Corporation (AFL)
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|It was the negative week for the AFLAC Corporation (AFL). During the week, the AFL dropped -2.39 points, or -3.57%, and closed at 64.49 on Friday, May 26, 2023. It was the worst weekly loss since March 17, 2023. Weekly volume was -17% below average. |
Long-term trend: [See AFL long-term trend chart]
A long-term uptrend had started on March 18, 2020 at 23.07 and reached 74.01 on January 6, 2023. AFL gained -50.94 points, or -220.81%, in 146 weeks. The chart has formed a Rising Wedge chart pattern. The price is near the trend support (64.19) 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 long-term trend.
Medium-term trend: [See AFL medium-term trend chart]
A medium-term uptrend had started on June 16, 2022 at 52.07 and reached 74.01 on January 6, 2023. AFL gained -21.94 points, or -42.14%, in 29 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 62.61 and resistance is at 83.36. 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 medium-term trend.
Weekly Technical Indicators: [See AFL weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since February 3, 2023. 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 AFL short-term trend chart]
A short-term downtrend had started on May 1, 2023 at 70.69 and reached 64.34 on May 25, 2023. AFL lost 6.35 points, or 8.98%, in 24 days. Price is near the trend low.
Daily Technical Indicators: [See AFL 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. Daily MACD has bullish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD 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 link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since May 8, 2023. This is an indication that the short-term trend is down.
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. While the medium-term trend is up and 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.