The Greedy Trader Weekly Analysis
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- 1/5/2018
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iPath Dow Jones-AIG Commodity Idx TR ETN
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Summary:
Weekly :Williams' Percentage Range is overboughtMACD bearish divergenceBroken trend resistance line
Daily :Relative Strength Index and Williams' Percentage Range are overboughtLane's Stochastic is strongly overboughtA Parabolic SAR indicator is above and near the priceThe Bollinger Bands are historically far apart
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It was a fourth consecutive positive week for the iPath Dow Jones-AIG Commodity Idx TR ETN (DJP). During the week, the DJP climbed 0.01 points, or 0.04%, and closed at 24.42 on Friday, January 05, 2018. Weekly volume was 19% above average.

Long-term trend: [See DJP long-term trend chart]
A long-term downtrend had started on July 5, 2016 at 25.50 and reached 21.61 on June 22, 2017. DJP lost 3.89 points, or 15.25%, in 50 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (21.02) 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 long-term trend.

Medium-term trend: [See DJP medium-term trend chart]
A medium-term uptrend had started on June 22, 2017 at 21.61 and reached 24.65 on January 4, 2018. DJP gained -3.04 points, or -14.07%, in 28 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 23.08 and resistance is at 25.24. 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 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. Weekly 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 weekly 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 link to access Williams' Percentage Range help.

The weekly MACD line is above its signal line since December 22, 2017. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See DJP short-term trend chart]
A short-term downtrend had started on January 4, 2018 at 24.65 and reached 24.37 on January 5, 2018. DJP lost 0.28 points, or 1.14%, in 1 days. The price is now at the 17.86% retracement level.

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

The daily MACD line is above its signal line since December 19, 2017. The distance between MACD and the signal line is relatively high, but getting smaller.

A Parabolic SAR (stop and reversal) indicator (24.29) comes close to the price (24.42). 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.

The distance between the Bollinger Bands (9.66%) is close to one year high (7.69%). It is 113.96% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell signal for the option traders. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 89.22
Overbought
Williams' Percentage Range (W%R) 13.00
Overbought
Lane's Stochastic (%D-Slow) 91.35
Strong Overbought
Greed/Fear Indicator (GFI) 89.19
Overbought
Moving Average Converg./Diverg. (MACD) 0.12
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 64.29
Williams' Percentage Range (W%R) 10.60
Overbought
Lane's Stochastic (%D-Slow) 45.11
Greed/Fear Indicator (GFI) 64.02
Moving Average Converg./Diverg. (MACD) 0.15 Bearish
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 25.24
Upper Bollinger Band 25.15
Daily Stochastic Crossing 24.58
Price 24.42
Parabolic System 24.29
50 Day Moving Average 23.83
Weekly Stochastic Crossing 23.74
20 Day Moving Average 23.70
Yearly Trendline Resistance 23.64
Quarterly Trendline Support 23.08
Lower Bollinger Band 22.80
Yearly Trendline Support 21.02
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 24.65
High Date 01/04/2018
Low 24.37
Low Date 01/05/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 24.65
High Date 01/04/2018
Low 24.37
Low Date 01/05/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 22.96
Low Date 12/12/2017
High 24.65
High Date 01/04/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 25.24
Support 23.08
Low 21.61
Low Date 06/22/2017
High 24.65
High Date 01/04/2018
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 23.64
Support 21.02
High 25.50
High Date 07/05/2016
Low 21.61
Low Date 06/22/2017
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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