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Uptrend SupportArchive
- 8/30/2024 -
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Corteva (CTVA) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a third consecutive positive week for the Corteva (CTVA). During the week, the CTVA gained 1.72 points, or 3.09%, and closed at 57.30 on Friday, August 30, 2024. Weekly volume was -11% below average.
 Long-term trend: [See CTVA long-term trend chart]
A long-term uptrend had started on November 13, 2023 at 43.22 and reached 58.76 on May 10, 2024. CTVA gained -15.54 points, or -35.96%, in 25 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (52.65) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 CTVA medium-term trend chart]
A medium-term downtrend had started on May 10, 2024 at 58.76 and reached 50.01 on June 11, 2024. CTVA lost 8.75 points, or 14.89%, in 4 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (50.45) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. CTVA may retest the broken resistance line. It is considered to be a support 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 resistance line in a medium-term trend.
 Weekly Technical Indicators: [See CTVA weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since June 7, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See CTVA short-term trend chart]
A short-term uptrend had started on August 5, 2024 at 50.30 and reached 57.57 on August 30, 2024. CTVA gained -7.27 points, or -14.45%, in 25 days. Price is near the trend high.
 Daily Technical Indicators: [See CTVA daily technical indicators chart]
Daily Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. 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, Relative Strength Index and Williams' Percentage Range help.
The daily MACD line is above its signal line since August 15, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.
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