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Uptrend Broken SupportArchive
- 4/26/2024 -
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WestRock (WRK) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the WestRock (WRK). During the week, the WRK dropped -0.74 points, or -1.54%, and closed at 47.25 on Friday, April 26, 2024. Weekly volume was -24% below average.
WRK 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 WRK long-term trend chart]
A long-term uptrend had started on March 17, 2023 at 26.84 and reached 49.67 on March 26, 2024. WRK gained -22.83 points, or -85.06%, in 53 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 42.32 and resistance is at 49.17. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.
 Medium-term trend: [See WRK medium-term trend chart]
A medium-term uptrend had started on February 6, 2024 at 38.30 and reached 49.67 on March 26, 2024. WRK gained -11.37 points, or -29.69%, in 7 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See WRK weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. 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 February 16, 2024. 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 WRK short-term trend chart]
A short-term downtrend had started on March 26, 2024 at 49.67 and reached 46.41 on April 25, 2024. WRK lost 3.26 points, or 6.56%, in 30 days. Price is near the Fibonacci 23.6% retracement level.
 Daily Technical Indicators: [See WRK daily technical indicators chart]
Daily technical indicators are neutral. Daily Relative Strength Index and MACD have bullish divergence. Use the following links to access the Relative Strength Index and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index and MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Relative Strength Index help.
The daily MACD line is below its signal line since March 28, 2024. This is an indication that the short-term trend is down.
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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