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Uptrend ExhaustionArchive
- 4/26/2024 -
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Hologic Inc (HOLX) Technical Analysis
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| Summary:
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| | It was a first positive week for the Hologic Inc (HOLX). During the week, the HOLX climbed 0.60 points, or 0.80%, and closed at 75.98 on Friday, April 26, 2024. Weekly volume was -27% below average.
HOLX is a member of Health Care Sector. Health Care is the second most oversold 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 HOLX long-term trend chart]
A long-term uptrend had started on March 9, 2009 at 9.31 and reached 87.88 on May 1, 2023. HOLX gained -78.57 points, or -843.93%, in 738 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 66.10 and resistance is at 92.49. 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 long-term trend.
 Medium-term trend: [See HOLX medium-term trend chart]
A medium-term uptrend had started on October 30, 2023 at 64.02 and reached 79.22 on April 4, 2024. HOLX gained -15.20 points, or -23.74%, in 22 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (77.60) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. HOLX may retest the broken support line. It is considered to be a resistance 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 support in a medium-term trend.
 Weekly Technical Indicators: [See HOLX weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since November 24, 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 HOLX short-term trend chart]
A short-term downtrend had started on April 4, 2024 at 79.22 and reached 74.53 on April 18, 2024. HOLX lost 4.69 points, or 5.92%, in 14 days. The price is now at the 30.92% retracement level.
 Daily Technical Indicators: [See HOLX daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The daily MACD line is below its signal line since April 12, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
During the last week, the price 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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