Agilent Edges Up 0.33% Amid Technical Inflection At 118-119 Support Zone

Agilent Technologies (A) edged up 0.33% in the latest session, closing at $118.69 after trading between $117.51 and $119.20 on moderate volume. The following technical assessment evaluates key market dynamics using the provided historical data.
Candlestick Theory
Recent price action shows consolidation near the $118–$119 zone, which now serves as immediate support. The August 22nd bullish engulfing pattern at $117.47–$122.41 signaled strong buying interest, establishing $121.63 as a resistance level. Conversely, the August 25th long red candle breaking below $121.69 confirmed distribution pressure. Key swing lows near $112 (July) and $99 (April) form critical long-term support, while the $127–$130 region from March acts as a major resistance barrier.
Moving Average Theory
The 50-day moving average (approximating $118) flattened after crossing below the 100-day MA (~$122), reflecting near-term bearish momentum. Price currently trades below both, reinforcing resistance at $121–$122. However, the sustained 200-day MA uptrend (near $130) implies the broader bull cycle remains intact. A reversal above the 50-day MA would signal trend improvement.
MACD & KDJ Indicators
MACD lines remain below zero with a narrowing histogram, indicating persistent bearish momentum but diminishing selling pressure. KDJ oscillators hover near oversold territory (K: ~35, D: ~38), suggesting potential exhaustion in downward moves. While no bullish crossover has materialized, KDJ divergence could foreshadow a reversal attempt if momentum shifts.
Bollinger Bands
Bollinger Bands contracted sharply in August, reflecting the lowest volatility since April. Price hugging the lower band signals oversold conditions, with a band squeeze often preceding directional breaks. A sustained move above the $119 mid-band may trigger bullish momentum toward $121.50 upper band resistance.
Volume-Price Relationship
Volume surged during breakdowns (e.g., July 15: -5.95% on 3.95M shares) and rallies (e.g., May 12: +8.06% on 2.87M shares), validating trend sustainability. Recent consolidation occurs on declining volume, suggesting weak conviction. Breakouts above $121 would require volume expansion to confirm legitimacy.
Relative Strength Index
Daily RSI (14-period) sits near 45, reflecting neutral momentum after exiting oversold territory in late August. While RSI held above 30 during the July–August decline—avoiding true oversold extremes—it also failed to breach 70 since March, confirming the absence of overbought conditions. This aligns with the broader range-bound environment.
Fibonacci Retracement
Applying Fibonacci to the March–August decline (swing high: $151.52, low: $112.04) shows the 38.2% retracement at $125.50 halted recovery attempts in late July. Recent price struggles below the 23.6% level ($118.70) reinforce bearish near-term bias. Consecutive closes above $119 could expose the 23.6–38.2% retracement zone ($118.70–$125.50) as the next battleground.
Confluence and Divergence
Confluence appears at $118–$119, where Bollinger support, the 200-day MA trendline, and the 23.6% Fibonacci level align with recent sideways price action—suggesting a critical inflection point. Notable divergence exists between stabilizing volume during August’s lower lows and improving RSI/MACD histograms, hinting at waning bearish momentum. However, the MACD-KDJ bearish cross and sustained trading below key MAs warrant caution until bullish reconfirmation occurs.