The Greedy Trader Weekly Analysis
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- 5/22/2020 -
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Dow Jones (^DJI)

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Summary:
Weekly :Trend support at 24437.26
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week for the Dow Jones (^DJI). During the week, the ^DJI gained 779.74 points, or 3.29%, and closed at 24465.16 on Friday, May 22, 2020. Weekly volume was -15% below average.

Long-term trend: [See ^DJI long-term trend chart]
A long-term uptrend had started on March 9, 2009 at 6440.08 and reached 29568.57 on February 12, 2020. ^DJI gained -23128.49 points, or -359.13%, in 570 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 21988.16 and resistance is at 30502.29. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.

Medium-term trend: [See ^DJI medium-term trend chart]
A medium-term uptrend had started on August 24, 2015 at 15370.33 and reached 29568.57 on February 12, 2020. ^DJI gained -14198.24 points, or -92.37%, in 233 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend support (24437.26) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.

Weekly Technical Indicators: [See ^DJI weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since February 21, 2020. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.

Short-term trend: [See ^DJI short-term trend chart]
A short-term uptrend had started on May 14, 2020 at 22789.62 and reached 24718.46 on May 21, 2020. ^DJI gained -1928.84 points, or -8.46%, in 7 days. The price is now at the 13.13% retracement level.

Daily Technical Indicators: [See ^DJI daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and 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 links to access Lane's Stochastic and Williams' Percentage Range help.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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 moved above 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 58.28
Williams' Percentage Range (W%R) 15.30
Overbought
Lane's Stochastic (%D-Slow) 87.07
Overbought
Greed/Fear Indicator (GFI) 76.67
Moving Average Converg./Diverg. (MACD) 194.08
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 37.62
Williams' Percentage Range (W%R) 45.00
Lane's Stochastic (%D-Slow) 71.06
Greed/Fear Indicator (GFI) 58.18
Moving Average Converg./Diverg. (MACD) -938.44
Trading Signals
Description Value Chart
Upper Bollinger Band 24752.12
Price 24465.16
Quarterly Trendline Support 24437.26
Daily Stochastic Crossing 24434.65
20 Day Moving Average 24065.41
Weekly Stochastic Crossing 23837.81
Lower Bollinger Band 23219.49
Parabolic System 22990.70
50 Day Moving Average 22919.36
Yearly Trendline Support 21988.16
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 22789.62
Low Date 05/14/2020
High 24718.46
High Date 05/21/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 18213.65
Low Date 03/23/2020
High 24764.77
High Date 04/29/2020
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
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Support
Resistance 30093.60
Support 24437.26
Low 15370.33
Low Date 08/24/2015
High 29568.57
High Date 02/12/2020
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 30502.29
Support 21988.16
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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