The Greedy Trader Weekly Analysis
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Weekly Pattern:Rising Wedge
Number of records: 8
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Chart Analysis and Chart Pattern Recognition – Rising Wedge Pattern.
A rising wage pattern is a triangle formation with noticeable slant to the upside. It represents the loss of the upside momentum on each successive high and has a bearish bias. Rising wedges pattern usually marks a reversal in an uptrend. In a downtrend, the rising wedge is considered as a continuation pattern. As with other triangle formations, volume usually diminishes as price rise and then increases during the breakout.
Rising Wedge Screening page presents a list of stocks forming Rising Wedge Pattern.
Tips:
# 1
The rising wedge appears in a mature trend characterized by overbought long-term and short-term indicators. This situation usually generates divergence on long-term indicators.
# 2 For the best results, this chart pattern should be considered together with other technical analysis signals and technical trading techniques.
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iPath Dow Jones-AIG Commodity Idx TR ETN (DJP)

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Summary:
Weekly :
Daily :Stochastic has declined below the signal lineThe price has fallen below the Parabolic SAR
Move cursor over the icon to see details.

It was the negative week for the iPath Dow Jones-AIG Commodity Idx TR ETN (DJP). During the week, the DJP gave back -0.11 points, or -0.49%, and closed at 22.52 on Friday, November 8, 2019. Weekly volume was -61% below average.

Long-term trend: [See DJP long-term trend chart]
A long-term uptrend had started on August 7, 2019 at 21.05 and reached 22.96 on September 16, 2019. DJP gained -1.91 points, or -9.07%, in 5 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 21.84 and resistance is at 25.05. 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 uptrend had started on October 3, 2019 at 21.53 and reached 22.82 on November 4, 2019. DJP gained -1.29 points, or -5.99%, in 4 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 22.41 and resistance is at 22.80. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

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

The weekly MACD line is above its signal line since September 13, 2019. 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 November 6, 2019 at 22.79 and reached 22.21 on November 8, 2019. DJP lost 0.58 points, or 2.54%, in 2 days. The price is now at the 53.45% retracement level.

Daily Technical Indicators: [See DJP daily technical indicators chart]
Daily technical indicators are neutral. 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 link to access Lane's Stochastic help.

The daily MACD line is above its signal line since October 11, 2019. The distance between MACD and the signal line is low and getting smaller.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 69.18
Williams' Percentage Range (W%R) 66.30
Lane's Stochastic (%D-Slow) 72.68
Greed/Fear Indicator (GFI) 58.52
Moving Average Converg./Diverg. (MACD) 0.15
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.35
Williams' Percentage Range (W%R) 39.30
Lane's Stochastic (%D-Slow) 59.48
Greed/Fear Indicator (GFI) 59.39
Moving Average Converg./Diverg. (MACD) -0.13
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 25.05
Upper Bollinger Band 22.86
Parabolic System 22.82
Monthly Trendline Resistance 22.80
Daily Stochastic Crossing 22.61
Price 22.52
Weekly Stochastic Crossing 22.44
Monthly Trendline Support 22.41
20 Day Moving Average 22.31
50 Day Moving Average 22.12
Quarterly Trendline Support 21.84
Lower Bollinger Band 21.84
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 22.79
High Date 11/06/2019
Low 22.21
Low Date 11/08/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 22.79
High Date 11/06/2019
Low 22.21
Low Date 11/08/2019
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 22.80
Support 22.41
Low 21.53
Low Date 10/03/2019
High 22.82
High Date 11/04/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 25.05
Support 21.84
Low 21.05
Low Date 08/07/2019
High 22.96
High Date 09/16/2019
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 25.80
High Date 05/29/2018
Low 20.38
Low Date 12/26/2018
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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