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PowerShares DB Agriculture Fund
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|It was a third positive week after 3 consecutive negative weeks for the PowerShares DB Agriculture Fund (DBA). During the week, the DBA climbed 0.07 points, or 0.37%, and closed at 18.83 on Friday, January 05, 2018. Weekly volume was 37% above average. |
Long-term trend: [See DBA long-term trend chart]
A long-term downtrend had started on April 29, 2014 at 29.41 and reached 18.18 on December 12, 2017. DBA lost 11.23 points, or 38.18%, in 189 weeks. The price is now at the 5.79% retracement level.
Medium-term trend: [See DBA medium-term trend chart]
A medium-term downtrend had started on June 9, 2016 at 23.01 and reached 18.18 on December 12, 2017. DBA lost 4.83 points, or 20.99%, in 78 weeks. The price is now at the 13.46% retracement level.
Weekly Technical Indicators: [See DBA weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since December 8, 2017. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend is getting weak. Use the following link to access a MACD help.
Short-term trend: [See DBA short-term trend chart]
A short-term uptrend had started on December 12, 2017 at 18.18 and reached 19.01 on January 2, 2018. DBA gained -0.83 points, or -4.57%, in 21 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See DBA 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. 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. 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.
The daily MACD line is above its signal line since December 21, 2017. This is an indication that the short-term trend is up.
A Parabolic SAR (stop and reversal) indicator (18.65) comes close to the price (18.83). It indicates that the trend is getting weaker. 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.
Price is close to the 50 Day Moving Average. While daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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.