The Greedy Trader Weekly Analysis
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Weekly W%R:> 90
Number of records: 5
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Williams' Percentage Range (W%R)

Williams' %R is an effective momentum indicator that measures overbought/oversold levels. Like other indicators, W%R ranges between 0% and 100% , but in opposite to the other indicators, the 0% indicating overbought and 100% - the oversold stocks. W%R measures the closing price in relation to the recent low/high range. A bullish signal is generated when the W%R has reached 100, five time bars have elapsed, and the W%R has subsequently fallen to 95. A reverse signal is considered as bearish. For the sake of simplicity, the W%R closed above 10% is considered bearish and below 90% - bullish. In trending markets, the W%R stays at one end of the scale and gives false signals to trade against the trend. That is why W%R is not considered a stand-along technique, and it is essential to use it with some sort of trend formation indicators. The divergence between price and W%R rarely occurs and presents an important buy/sell signal. As our research shows, the W%R move to upper or lower bounds can be used as an earliest signal of an impending reversal. Using the Williams %R bullish divergence/bearish divergence, chart patterns, trendlines, support, and resistance lines along with the W%R chart can be very useful.

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- 3/15/2024 -
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Dominion Resources (D) Technical Analysis

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Summary:
Weekly :Oversold sectorPrice is near the Fibonacci 23.6% retracement level
Daily :20 Day Moving Average has crossed above the 50 Day Moving AveragePrice is near the Fibonacci 23.6% retracement level
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It was the negative week for the Dominion Resources (D). During the week, the D gave back -0.16 points, or -0.33%, and closed at 47.84 on Friday, March 15, 2024. Weekly volume was 22% above average.

D is a member of Utilities Sector. Utilities is the most oversold sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.

Long-term trend: [See D long-term trend chart]
A long-term downtrend had started on April 11, 2022 at 88.78 and reached 39.18 on October 23, 2023. D lost 49.60 points, or 55.87%, in 80 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 29.38 and resistance is at 75.34. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.

Medium-term trend: [See D medium-term trend chart]
A medium-term uptrend had started on October 23, 2023 at 39.18 and reached 50.70 on December 14, 2023. D gained -11.52 points, or -29.40%, in 7 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

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

The weekly MACD line is above its signal line since November 10, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See D short-term trend chart]
A short-term uptrend had started on February 13, 2024 at 43.53 and reached 49.21 on March 7, 2024. D gained -5.68 points, or -13.05%, in 23 days. Price is near the Fibonacci 23.6% retracement level.

Daily Technical Indicators: [See D daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since February 14, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.10
Williams' Percentage Range (W%R) 33.90
Lane's Stochastic (%D-Slow) 65.11
Greed/Fear Indicator (GFI) 62.09
Moving Average Converg./Diverg. (MACD) 0.40
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 50.90
Williams' Percentage Range (W%R) 27.80
Lane's Stochastic (%D-Slow) 51.23
Greed/Fear Indicator (GFI) 57.67
Moving Average Converg./Diverg. (MACD) -1.09
Trading Signals
Description Value Chart
Upper Bollinger Band 49.05
Daily Stochastic Crossing 48.21
Price 47.84
20 Day Moving Average 47.02
Weekly Stochastic Crossing 46.90
50 Day Moving Average 46.36
Parabolic System 46.03
Lower Bollinger Band 44.95
Sector and Industry
Description Name Rank
Sector Utilities 1
Industry Electric Utilities 24
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 44.17
Low Date 03/01/2024
High 49.21
High Date 03/07/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 43.53
Low Date 02/13/2024
High 49.21
High Date 03/07/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 39.18
Low Date 10/23/2023
High 50.70
High Date 12/14/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 75.34
Support 29.38
High 88.78
High Date 04/11/2022
Low 39.18
Low Date 10/23/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 90.89
High Date 02/24/2020
Low 39.18
Low Date 10/23/2023
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.