The Greedy Trader Weekly Analysis
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Archive
- 3/20/2020 -
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Dow Jones (^DJI)

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Summary:
Weekly :Relative Strength Index and Williams' Percentage Range are oversoldBroken trend support line
Daily :Williams' Percentage Range and Lane's Stochastic are oversoldThe Bollinger Bands are historically far apart
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It was the negative week for the Dow Jones (^DJI). During the week, the ^DJI dropped -4011.64 points, or -17.30%, and closed at 19173.98 on Friday, March 20, 2020. Weekly volume was 109% above average.

Long-term trend: [See ^DJI long-term trend chart]
A long-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 uptrend support line (23336.05) 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 long-term trend.

Medium-term trend: [See ^DJI medium-term trend chart]
A medium-term downtrend had started on February 12, 2020 at 29568.57 and reached 18917.46 on March 18, 2020. ^DJI lost 10651.11 points, or 36.02%, in 5 weeks. Price is near the trend low.

Weekly Technical Indicators: [See ^DJI weekly technical indicators chart]
Weekly Relative Strength Index and Williams' Percentage Range are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Relative Strength Index and 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 links to access Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is below its signal line since February 21, 2020. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term downtrend is strong. 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 13, 2020 at 23189.76 and reached 18917.46 on March 18, 2020. ^DJI lost 4272.30 points, or 18.42%, in 5 days. The price is now at the 6.00% retracement level.

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

The daily MACD line is below its signal line since February 20, 2020. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.

The distance between the Bollinger Bands (58.01%) is close to one year high (38.58%). It is 864.91% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell signal for the option traders. 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) 29.82
Williams' Percentage Range (W%R) 85.90
Oversold
Lane's Stochastic (%D-Slow) 11.65
Oversold
Greed/Fear Indicator (GFI) 18.52
Oversold
Moving Average Converg./Diverg. (MACD) -1681.96
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 19.32
Oversold
Williams' Percentage Range (W%R) 87.50
Oversold
Lane's Stochastic (%D-Slow) 26.98
Greed/Fear Indicator (GFI) 24.65
Moving Average Converg./Diverg. (MACD) 270.07
Trading Signals
Description Value Chart
Upper Bollinger Band 29217.16
50 Day Moving Average 27078.22
20 Day Moving Average 24113.40
Parabolic System 20675.61
Weekly Stochastic Crossing 20431.56
Daily Stochastic Crossing 19730.65
Price 19173.98
Lower Bollinger Band 18094.85
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 23189.76
High Date 03/13/2020
Low 18917.46
Low Date 03/18/2020
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 29568.57
High Date 02/12/2020
Low 18917.46
Low Date 03/18/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 21712.53
Low Date 12/26/2018
High 29568.57
High Date 02/12/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 29877.56
Support 23336.05
Low 15370.33
Low Date 08/24/2015
High 29568.57
High Date 02/12/2020
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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