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Uptrend ExhaustionArchive
- 5/17/2024 -
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Corteva (CTVA) Technical Analysis
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| Summary:
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| | It was the negative week for the Corteva (CTVA). During the week, the CTVA dropped -1.03 points, or -1.79%, and closed at 56.45 on Friday, May 17, 2024. CTVA was trading at average weekly trading volume.
CTVA is a member of Materials Sector. Materials 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 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 price is now at the 52.48% retracement level.
 Medium-term trend: [See CTVA medium-term trend chart]
A medium-term uptrend had started on April 15, 2024 at 53.19 and reached 58.76 on May 10, 2024. CTVA gained -5.57 points, or -10.47%, in 3 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (61.23) is broken. A broken support is considered to be a long-term bearish 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 support in a medium-term trend.
 Weekly Technical Indicators: [See CTVA weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly MACD bearish 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 weekly MACD line is above its signal line since December 22, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
Short-term trend: [See CTVA short-term trend chart]
A short-term downtrend had started on May 10, 2024 at 58.76 and reached 55.87 on May 17, 2024. CTVA lost 2.89 points, or 4.92%, in 7 days. The price is now at the 20.07% retracement level.
 Daily Technical Indicators: [See CTVA 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. Use the following link to access Lane's Stochastic help.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
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.
The price is close to 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 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish 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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