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Uptrend Broken SupportArchive
- 4/19/2024 -
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Ecolab Inc. (ECL) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Ecolab Inc. (ECL). During the week, the ECL dropped -3.53 points, or -1.59%, and closed at 218.16 on Friday, April 19, 2024. Weekly volume was 37% above average.
ECL 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 ECL long-term trend chart]
A long-term uptrend had started on November 3, 2022 at 131.04 and reached 231.86 on March 27, 2024. ECL gained -100.82 points, or -76.94%, in 72 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 168.40 and resistance is at 232.80. 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 ECL medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 156.72 and reached 231.86 on March 27, 2024. ECL gained -75.14 points, or -47.95%, in 21 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (242.83) 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. ECL 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 ECL weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly 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 weekly MACD line is above its signal line since November 17, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See ECL short-term trend chart]
A short-term downtrend had started on April 8, 2024 at 228.93 and reached 217.05 on April 19, 2024. ECL lost 11.88 points, or 5.19%, in 11 days. The price is now at the 9.34% retracement level.
 Daily Technical Indicators: [See ECL daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since March 6, 2024. This is an indication that the short-term trend is down.
During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support 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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