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Uptrend ExhaustionArchive
- 4/26/2024 -
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Union Pacific (UNP) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was a first positive week after 3 consecutive negative weeks for the Union Pacific (UNP). During the week, the UNP gained 10.71 points, or 4.61%, and closed at 242.79 on Friday, April 26, 2024. It was the best weekly gain since December 15, 2023. Weekly volume was 12% above average.
UNP is a member of Industrials Sector. Industrials is the second 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 UNP long-term trend chart]
A long-term uptrend had started on March 23, 2023 at 183.69 and reached 258.66 on February 26, 2024. UNP gained -74.97 points, or -40.81%, in 48 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Medium-term trend: [See UNP medium-term trend chart]
A medium-term downtrend had started on February 26, 2024 at 258.66 and reached 227.87 on April 17, 2024. UNP lost 30.79 points, or 11.90%, in 7 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend resistance line (223.31) 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. UNP 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 UNP weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 link to access Lane's Stochastic help.
The weekly MACD line is below its signal line since March 22, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
Short-term trend: [See UNP short-term trend chart]
A short-term uptrend had started on April 17, 2024 at 227.87 and reached 244.83 on April 26, 2024. UNP gained -16.96 points, or -7.44%, in 9 days. The price is now at the 12.03% retracement level.
 Daily Technical Indicators: [See UNP daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily 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. Use the following link to access Williams' Percentage Range help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.
During the last week, the price has moved above 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.
Price is close to the 50 Day Moving Average. While daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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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