- 5/22/2020 -
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Dow Jones (^DJI)
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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.