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Uptrend Broken SupportArchive
- 4/26/2024 -
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W. R. Berk (WRB) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the W. R. Berk (WRB). During the week, the WRB dropped -5.75 points, or -6.98%, and closed at 76.65 on Friday, April 26, 2024. Weekly volume was 91% above average.
WRB is a member of Financials Sector. Financials 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 WRB long-term trend chart]
A long-term downtrend had started on March 14, 2022 at 96.46 and reached 55.50 on May 26, 2023. WRB lost 40.96 points, or 42.46%, in 62 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (49.45) 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 WRB medium-term trend chart]
A medium-term uptrend had started on May 26, 2023 at 55.50 and reached 89.19 on March 28, 2024. WRB gained -33.69 points, or -60.70%, in 43 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 72.97 and resistance is at 92.51. 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 WRB weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 12, 2024. Use the following link to access a MACD help.
 Short-term trend: [See WRB short-term trend chart]
A short-term downtrend had started on April 22, 2024 at 83.83 and reached 76.09 on April 26, 2024. WRB lost 7.74 points, or 9.23%, in 4 days. The price is now at the 7.24% retracement level.
 Daily Technical Indicators: [See WRB daily technical indicators chart]
Daily Relative Strength Index is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index or strongly oversold 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. Daily Relative Strength Index, Lane's Stochastic and MACD have bullish 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 bullish 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, Relative Strength Index and Williams' Percentage Range help.
The daily MACD line is below its signal line since April 1, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term downtrend is strong.
The distance between the Bollinger Bands is 116.11% higher then one year average. It indicates the period of high volatility of the stock price. 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 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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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