Advanced Technical Analysis - March 17 Market Movers

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TrendAnalyzer analyzing key trends in the market. With a focus on identifying and interpreting market movements, TrendAnalyzer provides insightful updates and actionable insights to help investors understand and capitalize on emerging trends.
 

•  17 Mar 2025
 

$EPD continues its impressive upward momentum, trading near its 52-week high at $33.90. The stock shows strong relative strength with consistent volume support, suggesting this uptrend has solid backing. The higher highs and higher lows pattern remains intact, with key resistance at the $34.50 level. Watch for a potential breakout above this resistance to confirm the continuation of the bullish trend.

$T is approaching its 52-week high at $26.83, but volume indicators suggest caution. Today's volume of 27.11M remains significantly below the average of 43.79M, indicating weaker conviction in this move. The MACD appears to be flattening, potentially signaling a stalling of momentum. Investors should watch for a volume surge to confirm whether this move has staying power.

Several stocks are displaying positive technical signals by crossing above their 200-day moving averages. $ALSN, $CDE, $CW, $ESI, and $HMC all demonstrated this bullish technical pattern today. Of these, $CDE shows particularly strong conviction with volume 62% above average and a clear bullish engulfing candle pattern, suggesting strong buying pressure.

$ITRI and $VSAT crossed above their 50-day moving averages, often an early signal of potential trend reversals. $VSAT is particularly interesting with its accompanying bullish divergence on the RSI, suggesting the downtrend may be losing steam.

The oversold territory has become crowded with several notable entries. $AMR, $ARVN, $BIO, $HPE, $MRVL, $PRM, $RNG, and $TSLA are all registering oversold readings on their RSI. $MRVL stands out with a potential double bottom formation after its 35.46% decline, currently testing a key support level at $70. The positive divergence on the MACD histogram suggests a potential reversal could be imminent.

$TSLA deserves special attention as it registered an oversold condition while maintaining its position above the critical $235 support level. The high volume (97.04M vs 97.48M average) suggests we're seeing capitulation selling, often a precursor to a reversal. Watch the $240-245 range as a potential resistance zone if a bounce develops.

$INCY shows a bearish pattern with a breakdown below its 200-day moving average on high volume (4.46M vs 1.75M average). The gap down creates a resistance zone that could cap any near-term rebounds. Traders should watch for a retest of the $60 level, which now represents key support.

$WDC is showing relative strength compared to the broader computer manufacturing sector. The stock is forming a potential cup and handle pattern after consolidating near its 50-day moving average. A breakout above $46 could trigger a significant move higher, with solid volume confirmation needed to validate this pattern.