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Advanced TA SearchArchive
- 4/5/2024 -
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Dow Jones (^DJI) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Dow Jones (^DJI). During the week, the ^DJI dropped -903.33 points, or -2.27%, and closed at 38904.04 on Friday, April 5, 2024. ^DJI was trading at average weekly trading volume.
 Long-term trend: [See ^DJI long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 28660.94 and reached 39889.05 on March 21, 2024. ^DJI gained -11228.11 points, or -39.18%, in 75 weeks. The price is now at the 8.77% retracement level.
 Medium-term trend: [See ^DJI medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 32327.20 and reached 39889.05 on March 21, 2024. ^DJI gained -7561.85 points, or -23.39%, in 20 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (39735.02) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. ^DJI may retest the broken support line. It is considered to be a resistance 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 support in a medium-term trend.
 Weekly Technical Indicators: [See ^DJI weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish 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 link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since November 17, 2023. 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 ^DJI short-term trend chart]
A short-term downtrend had started on March 21, 2024 at 39889.05 and reached 38559.42 on April 4, 2024. ^DJI lost 1329.63 points, or 3.33%, in 14 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Daily Technical Indicators: [See ^DJI daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. Use the following link to access Williams' Percentage Range help.
During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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.
Price is close to the 50 Day Moving Average. While daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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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