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Uptrend Broken SupportArchive
- 4/5/2024 -
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Seagate Technology (STX) Technical Analysis
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| Summary:
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| | It was the negative week for the Seagate Technology (STX). During the week, the STX dropped -3.06 points, or -3.29%, and closed at 89.99 on Friday, April 5, 2024. Weekly volume was 6% above average.
STX is a member of Information Technology Sector. Information Technology 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 STX long-term trend chart]
A long-term downtrend had started on January 5, 2022 at 117.67 and reached 47.47 on November 3, 2022. STX lost 70.20 points, or 59.66%, in 43 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (68.62) 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 long-term trend.
 Medium-term trend: [See STX medium-term trend chart]
A medium-term uptrend had started on April 21, 2023 at 54.32 and reached 101.26 on March 6, 2024. STX gained -46.94 points, or -86.41%, in 45 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 72.33 and resistance is at 95.23. 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 medium-term trend.
 Weekly Technical Indicators: [See STX weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. Use the following link to access a MACD help.
 Short-term trend: [See STX short-term trend chart]
A short-term uptrend had started on September 13, 2023 at 62.43 and reached 101.26 on March 6, 2024. STX gained -38.83 points, or -62.20%, in 175 days. The chart has formed a Rising Channel chart pattern. The price is near the trend support (91.11) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a short-term trend.
Daily Technical Indicators: [See STX daily technical indicators chart]
Daily technical indicators are neutral.
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 declined below 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. 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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