- 11/24/2023 -
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Corteva (CTVA) Technical Analysis
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|It was the negative week for the Corteva (CTVA). During the week, the CTVA dropped -0.65 points, or -1.37%, and closed at 46.67 on Friday, November 24, 2023. Weekly volume was -31% below average. |
Long-term trend: [See CTVA long-term trend chart]
A long-term downtrend had started on November 2, 2022 at 68.43 and reached 43.22 on November 13, 2023. CTVA lost 25.21 points, or 36.84%, in 53 weeks. The chart has formed a Falling Channel chart pattern. The downtrend support line (49.09) is broken. Usually a broken support is considered to be a long-term bearish 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 support in a long-term trend.
Medium-term trend: [See CTVA medium-term trend chart]
A medium-term downtrend had started on April 14, 2023 at 63.37 and reached 43.22 on November 13, 2023. CTVA lost 20.15 points, or 31.80%, in 30 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 43.99 and resistance is at 51.01. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern 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 December 9, 2022. This is an indication that the medium-term trend is down. 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 November 13, 2023 at 43.22 and reached 47.95 on November 16, 2023. CTVA gained -4.73 points, or -10.94%, in 3 days. The price is now at the 27.06% retracement level.
Daily Technical Indicators: [See CTVA 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.