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Specialty Chemicals Industry Stocks Technical Analysis - DD

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- 3/15/2024 -
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DuPont (DD) Technical Analysis

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Summary:
Weekly :Overbought sectorBroken trend support line
Daily :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtMACD bearish divergence20 Day Moving Average has crossed above the 50 Day Moving Average
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It was a second consecutive positive week for the DuPont (DD). During the week, the DD gained 2.03 points, or 2.84%, and closed at 73.43 on Friday, March 15, 2024. DD was trading at average weekly trading volume.

DD is a member of Materials Sector. Materials is the most overbought 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 DD long-term trend chart]
A long-term uptrend had started on September 27, 2022 at 49.52 and reached 78.74 on July 27, 2023. DD gained -29.22 points, or -59.01%, in 43 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend support line (82.32) is broken. A broken support is considered to be a long-term bearish signal. 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 DD medium-term trend chart]
A medium-term downtrend had started on July 27, 2023 at 78.74 and reached 61.14 on February 2, 2024. DD lost 17.60 points, or 22.35%, in 27 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 58.65 and resistance is at 77.27. 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 medium-term trend.

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

The weekly MACD line is below its signal line since January 19, 2024. 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 DD short-term trend chart]
A short-term uptrend had started on February 2, 2024 at 61.14 and reached 74.24 on March 15, 2024. DD gained -13.10 points, or -21.43%, in 42 days. The price is now at the 6.18% retracement level.

Daily Technical Indicators: [See DD daily technical indicators chart]
Daily Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Daily MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 February 7, 2024. This is an indication that the short-term trend is up.

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) 74.18
Williams' Percentage Range (W%R) 9.90
Strong Overbought
Lane's Stochastic (%D-Slow) 89.96
Overbought
Greed/Fear Indicator (GFI) 84.73
Overbought
Moving Average Converg./Diverg. (MACD) 0.74 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.91
Williams' Percentage Range (W%R) 25.00
Lane's Stochastic (%D-Slow) 54.29
Greed/Fear Indicator (GFI) 59.71
Moving Average Converg./Diverg. (MACD) -0.63
Trading Signals
Description Value Chart
Quarterly Trendline Support 82.32
Quarterly Trendline Resistance 79.21
Monthly Trendline Resistance 77.27
Upper Bollinger Band 74.18
Daily Stochastic Crossing 73.77
Price 73.43
Parabolic System 70.92
20 Day Moving Average 70.50
50 Day Moving Average 69.84
Weekly Stochastic Crossing 69.03
Lower Bollinger Band 67.39
Sector and Industry
Description Name Rank
Sector Materials 10
Industry Specialty Chemicals 42
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 68.21
Low Date 02/29/2024
High 74.24
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 61.14
Low Date 02/02/2024
High 74.24
High Date 03/15/2024
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 77.27
Support 58.65
High 78.74
High Date 07/27/2023
Low 61.14
Low Date 02/02/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Ascending Triangle
Status Broken Support
Resistance 79.21
Support 82.32
Low 49.52
Low Date 09/27/2022
High 78.74
High Date 07/27/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 87.27
High Date 01/12/2021
Low 49.52
Low Date 09/27/2022
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.