The Greedy Trader Weekly Analysis
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Archive
- 10/16/2020 -
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Dow Jones (^DJI)

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Summary:
Weekly :Williams' Percentage Range is overbought
Daily :Williams' Percentage Range is overboughtStochastic has declined below the signal lineThe price has fallen below the Parabolic SARBroken trend resistance line
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It was a third positive week after 4 consecutive negative weeks for the Dow Jones (^DJI). During the week, the ^DJI climbed 19.41 points, or 0.07%, and closed at 28606.31 on Friday, October 16, 2020. Weekly volume was -16% below average.

Long-term trend: [See ^DJI long-term trend chart]
A long-term downtrend had started on February 12, 2020 at 29568.57 and reached 18213.65 on March 23, 2020. ^DJI lost 11354.92 points, or 38.40%, in 5 weeks. The price is now at the 91.53% retracement level.

Medium-term trend: [See ^DJI medium-term trend chart]
A medium-term uptrend had started on March 23, 2020 at 18213.65 and reached 29199.35 on September 3, 2020. ^DJI gained -10985.70 points, or -60.32%, in 23 weeks. The price is now at the 5.40% retracement level.

Weekly Technical Indicators: [See ^DJI weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. 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 Williams' Percentage Range help.

The weekly MACD line is above its signal line since May 22, 2020. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. 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 September 3, 2020 at 29199.35 and reached 26537.01 on September 24, 2020. ^DJI lost 2662.34 points, or 9.12%, in 21 days. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (24941.09) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. ^DJI may retest the broken resistance line. It is considered to be a support 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 resistance line in a short-term trend.

Daily Technical Indicators: [See ^DJI daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since September 30, 2020.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 67.09
Williams' Percentage Range (W%R) 16.00
Overbought
Lane's Stochastic (%D-Slow) 76.04
Greed/Fear Indicator (GFI) 75.71
Moving Average Converg./Diverg. (MACD) 175.77
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 71.16
Williams' Percentage Range (W%R) 14.40
Overbought
Lane's Stochastic (%D-Slow) 57.47
Greed/Fear Indicator (GFI) 66.78
Moving Average Converg./Diverg. (MACD) 516.03
Trading Signals
Description Value Chart
Upper Bollinger Band 29415.91
Parabolic System 28970.75
Daily Stochastic Crossing 28681.34
Price 28606.31
Weekly Stochastic Crossing 28050.42
50 Day Moving Average 27968.75
20 Day Moving Average 27893.78
Lower Bollinger Band 26884.80
Weekly Trendline Resistance 26242.77
Weekly Trendline Support 24941.09
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Low 26537.01
Low Date 09/24/2020
High 28957.90
High Date 10/12/2020
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 26242.77
Support 24941.09
High 29199.35
High Date 09/03/2020
Low 26537.01
Low Date 09/24/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 18213.65
Low Date 03/23/2020
High 29199.35
High Date 09/03/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 29568.57
High Date 02/12/2020
Low 18213.65
Low Date 03/23/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 6440.08
Low Date 03/09/2009
High 29568.57
High Date 02/12/2020
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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