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Daily W%R Divergence:Bearish
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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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Dollar General (DG) Technical Analysis

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Summary:
Weekly :Lane's Stochastic is overboughtBroken trend resistance line
Daily :Stochastic signal line moved below overbought areaDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARBullish Meeting Lines Candlestick
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It was the negative week for the Dollar General (DG). During the week, the DG dropped -5.36 points, or -3.41%, and closed at 151.95 on Friday, March 15, 2024. It was the worst weekly loss since December 8, 2023. Weekly volume was 56% above average.

Long-term trend: [See DG long-term trend chart]
A long-term downtrend had started on October 28, 2022 at 261.59 and reached 101.09 on October 12, 2023. DG lost 160.50 points, or 61.36%, in 49 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 37.67 and resistance is at 183.85. 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 DG medium-term trend chart]
A medium-term uptrend had started on October 12, 2023 at 101.09 and reached 168.07 on March 14, 2024. DG gained -66.98 points, or -66.26%, in 22 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend resistance line (144.57) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 resistance line in a medium-term trend.

Weekly Technical Indicators: [See DG weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 link to access Lane's Stochastic help.

The weekly MACD line is above its signal line since November 3, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See DG short-term trend chart]
A short-term downtrend had started on March 14, 2024 at 168.07 and reached 149.93 on March 15, 2024. DG lost 18.14 points, or 10.79%, in 1 days. The price is now at the 11.14% retracement level.

Daily Technical Indicators: [See DG daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.

Candlestick pattern: [See DG candlestick chart pattern]
On Friday the chart has formed a Bullish Meeting Lines Candlestick pattern. This pattern appears during a decline, and it is a sign that a potential bullish reversal is in play. The reliability of the Bullish Meeting Lines Candlestick pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bullish Meeting Lines Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 65.51
Williams' Percentage Range (W%R) 59.10
Lane's Stochastic (%D-Slow) 60.18
Greed/Fear Indicator (GFI) 55.53
Moving Average Converg./Diverg. (MACD) 5.13
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 76.30
Williams' Percentage Range (W%R) 34.00
Lane's Stochastic (%D-Slow) 80.42
Overbought
Greed/Fear Indicator (GFI) 68.82
Moving Average Converg./Diverg. (MACD) -5.59
Trading Signals
Description Value Chart
Upper Bollinger Band 164.03
Weekly Stochastic Crossing 162.36
Parabolic System 162.29
Daily Stochastic Crossing 158.14
Price 151.95
20 Day Moving Average 149.24
Monthly Trendline Support 144.57
Monthly Trendline Resistance 141.14
50 Day Moving Average 140.35
Lower Bollinger Band 134.98
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 7
Industry General Merchandise Stores 76
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 168.07
High Date 03/14/2024
Low 149.93
Low Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 128.76
Low Date 01/25/2024
High 168.07
High Date 03/14/2024
Description Value
Direction Up
Chart Pattern Ascending Triangle
Status Broken Resistance
Resistance 141.14
Support 144.57
Low 101.09
Low Date 10/12/2023
High 168.07
High Date 03/14/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 183.85
Support 37.67
High 261.59
High Date 10/28/2022
Low 101.09
Low Date 10/12/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 262.21
High Date 04/21/2022
Low 101.09
Low Date 10/12/2023
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.