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Uptrend Broken SupportArchive
- 4/26/2024 -
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L3Harris T (LHX) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a second consecutive positive week for the L3Harris T (LHX). During the week, the LHX gained 9.09 points, or 4.42%, and closed at 214.54 on Friday, April 26, 2024. It was the best weekly gain since December 15, 2023. Weekly volume was 7% above average.
LHX 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 LHX long-term trend chart]
A long-term downtrend had started on March 7, 2022 at 279.71 and reached 160.25 on October 6, 2023. LHX lost 119.46 points, or 42.71%, in 82 weeks. The price is now at the 45.45% retracement level.
 Medium-term trend: [See LHX medium-term trend chart]
A medium-term downtrend had started on March 5, 2024 at 218.34 and reached 200.18 on April 16, 2024. LHX lost 18.16 points, or 8.32%, in 6 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (197.52) is broken. A broken support is considered to be a long-term bullish 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 resistance line in a medium-term trend.
 Weekly Technical Indicators: [See LHX weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 5, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See LHX short-term trend chart]
A short-term uptrend had started on April 16, 2024 at 200.18 and reached 216.99 on April 26, 2024. LHX gained -16.81 points, or -8.40%, in 10 days. The price is now at the 14.57% retracement level.
Daily Technical Indicators: [See LHX daily technical indicators chart]
Daily technical indicators are neutral.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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 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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