The Greedy Trader Weekly Analysis
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- 4/13/2018
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iPath Dow Jones-AIG Commodity Idx TR ETN
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Summary:
Weekly :Williams' Percentage Range is overboughtBroken trend resistance line
Daily :Williams' Percentage Range and Lane's Stochastic are strongly overboughtPrice has crossed above the 50 Day Moving AverageThe price has risen above the Parabolic SARPrice is near the Fibonacci 23.6% retracement levelThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week for the iPath Dow Jones-AIG Commodity Idx TR ETN (DJP). During the week, the DJP gained 0.75 points, or 3.11%, and closed at 24.89 on Friday, April 13, 2018. Weekly volume was -47% below average.

Long-term trend: [See DJP long-term trend chart]
A long-term uptrend had started on June 22, 2017 at 21.61 and reached 25.41 on January 25, 2018. DJP gained -3.80 points, or -17.58%, in 31 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 23.89 and resistance is at 26.33. 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 DJP medium-term trend chart]
A medium-term downtrend had started on January 25, 2018 at 25.41 and reached 23.58 on February 9, 2018. DJP lost 1.83 points, or 7.20%, in 2 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (23.82) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. DJP may retest the broken resistance line. It is considered to be a support line now. 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 DJP weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. 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 Williams' Percentage Range help.

The weekly MACD line is below its signal line since March 9, 2018. 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 DJP short-term trend chart]
A short-term uptrend had started on April 12, 2018 at 24.67 and reached 24.95 on April 13, 2018. DJP gained -0.28 points, or -1.13%, in 1 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See DJP daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since April 5, 2018. This is an indication that the short-term trend is up.

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.

During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.67
Williams' Percentage Range (W%R) 6.40
Strong Overbought
Lane's Stochastic (%D-Slow) 90.17
Strong Overbought
Greed/Fear Indicator (GFI) 83.48
Overbought
Moving Average Converg./Diverg. (MACD) 0.00
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 54.58
Williams' Percentage Range (W%R) 18.80
Overbought
Lane's Stochastic (%D-Slow) 46.13
Greed/Fear Indicator (GFI) 59.55
Moving Average Converg./Diverg. (MACD) 0.27
Trading Signals
Description Value Chart
Yearly Trendline Resistance 26.33
Upper Bollinger Band 25.00
Daily Stochastic Crossing 24.90
Price 24.89
50 Day Moving Average 24.41
Weekly Stochastic Crossing 24.37
20 Day Moving Average 24.33
Quarterly Trendline Resistance 24.02
Parabolic System 24.01
Lower Bollinger Band 23.91
Yearly Trendline Support 23.89
Quarterly Trendline Support 23.82
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 24.67
Low Date 04/12/2018
High 24.95
High Date 04/13/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 24.67
Low Date 04/12/2018
High 24.95
High Date 04/13/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 23.78
Low Date 04/04/2018
High 25.03
High Date 04/11/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 24.02
Support 23.82
High 25.41
High Date 01/25/2018
Low 23.58
Low Date 02/09/2018
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 26.33
Support 23.89
Low 21.61
Low Date 06/22/2017
High 25.41
High Date 01/25/2018
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.

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