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Uptrend Broken SupportArchive - 3/15/2024 - Sign In to see current Signals. |
Constellation Brands (STZ) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | It was a fifth consecutive positive week for the Constellation Brands (STZ). During the week, the STZ gained 9.95 points, or 3.86%, and closed at 267.64 on Friday, March 15, 2024. It was the best weekly gain since January 12, 2024. Weekly volume was 10% above average. Long-term trend: [See STZ long-term trend chart] A long-term downtrend had started on August 8, 2023 at 273.65 and reached 227.50 on October 13, 2023. STZ lost 46.15 points, or 16.86%, in 9 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (245.67) 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. STZ 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 long-term trend. Medium-term trend: [See STZ medium-term trend chart] A medium-term uptrend had started on October 13, 2023 at 227.50 and reached 267.88 on March 15, 2024. STZ gained -40.38 points, or -17.75%, in 22 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 245.28 and resistance is at 275.01. 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 STZ weekly technical indicators chart] Weekly technical indicators are neutral. The weekly MACD line is above its signal line since January 5, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help. Short-term trend: [See STZ short-term trend chart] A short-term uptrend had started on February 7, 2024 at 241.17 and reached 267.88 on March 15, 2024. STZ gained -26.71 points, or -11.08%, in 37 days. Price is near the trend high. Daily Technical Indicators: [See STZ daily technical indicators chart] Daily Relative Strength Index is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index or strongly overbought daily Lane's Stochastic. Daily Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index, Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 Relative Strength Index help. The daily MACD line is above its signal line since February 23, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term uptrend is strong. During the last week, the 20 Day Moving Average 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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