Seagate Technology (STX)
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|It was a third consecutive positive week for the Seagate Technology (STX). During the week, the STX climbed 0.03 points, or 0.05%, and closed at 62.29 on Friday, May 26, 2023. Weekly volume was -11% below average. |
STX 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 STX long-term trend chart]
A long-term uptrend had started on May 12, 2016 at 18.42 and reached 117.67 on January 5, 2022. STX gained -99.25 points, or -538.82%, in 294 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend support (63.96) 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 STX medium-term trend chart]
A medium-term downtrend had started on February 2, 2023 at 73.74 and reached 54.32 on April 21, 2023. STX lost 19.42 points, or 26.34%, in 11 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 49.82 and resistance is at 63.79. 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 STX weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help.
Short-term trend: [See STX short-term trend chart]
A short-term uptrend had started on April 21, 2023 at 54.32 and reached 63.61 on May 23, 2023. STX gained -9.29 points, or -17.10%, in 32 days. The price is now at the 14.21% retracement level.
Daily Technical Indicators: [See STX daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 Lane's Stochastic help.
The daily MACD line is above its signal line since May 9, 2023. This is an indication that the short-term trend is up.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.