The Greedy Trader Weekly Analysis
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- 11/8/2019 -
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Dow Jones (^DJI)

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Summary:
Weekly :Williams' Percentage Range is strongly overbought
Daily :Relative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overboughtStochastic has declined below the signal lineThe price touches the upper Bollinger Band
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It was a third consecutive positive week for the Dow Jones (^DJI). During the week, the ^DJI gained 333.88 points, or 1.22%, and closed at 27681.24 on Friday, November 8, 2019. Weekly volume was -36% below average.

Long-term trend: [See ^DJI long-term trend chart]
A long-term uptrend had started on December 26, 2018 at 21712.53 and reached 27774.67 on November 7, 2019. ^DJI gained -6062.14 points, or -27.92%, in 45 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 26968.17 and resistance is at 28392.18. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a long-term trend.

Medium-term trend: [See ^DJI medium-term trend chart]
A medium-term uptrend had started on August 15, 2019 at 25339.60 and reached 27774.67 on November 7, 2019. ^DJI gained -2435.07 points, or -9.61%, in 12 weeks. Price is near the trend high.

Weekly Technical Indicators: [See ^DJI weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought 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 October 25, 2019. 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 uptrend had started on October 3, 2019 at 25743.46 and reached 27774.67 on November 7, 2019. ^DJI gained -2031.21 points, or -7.89%, in 35 days. Price is near the trend high.

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

The daily MACD line is above its signal line since October 14, 2019. This is an indication that the short-term trend is up.

The price touches the upper Bollinger Band. 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) 82.60
Overbought
Williams' Percentage Range (W%R) 8.30
Strong Overbought
Lane's Stochastic (%D-Slow) 90.80
Strong Overbought
Greed/Fear Indicator (GFI) 88.35
Overbought
Moving Average Converg./Diverg. (MACD) 166.26
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 63.93
Williams' Percentage Range (W%R) 3.60
Strong Overbought
Lane's Stochastic (%D-Slow) 79.38
Greed/Fear Indicator (GFI) 78.99
Moving Average Converg./Diverg. (MACD) 261.18
Trading Signals
Description Value Chart
Monthly Trendline Resistance 28392.18
Upper Bollinger Band 27757.18
Daily Stochastic Crossing 27690.94
Price 27681.24
Weekly Stochastic Crossing 27469.73
Parabolic System 27382.13
20 Day Moving Average 27118.46
Monthly Trendline Support 26968.17
50 Day Moving Average 26890.09
Lower Bollinger Band 26574.08
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 25743.46
Low Date 10/03/2019
High 27774.67
High Date 11/07/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 25339.60
Low Date 08/15/2019
High 27774.67
High Date 11/07/2019
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 28392.18
Support 26968.17
Low 21712.53
Low Date 12/26/2018
High 27774.67
High Date 11/07/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 15370.33
Low Date 08/24/2015
High 27774.67
High Date 11/07/2019
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 6440.08
Low Date 03/09/2009
High 27774.67
High Date 11/07/2019
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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