The Greedy Trader Weekly Analysis
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Weekly Pattern:Rising Wedge
Number of records: 10
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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.
Rising Wedge Pattern,Rising Wedge,Rising Wedge Chart Pattern,Stock Charting, chart pattern, charts, pattern, technical analysis, signals, chart analysis, pattern recognition, screening, technical trading

iPath Dow Jones-AIG Commodity Idx TR ETN (DJP)

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Summary:
Weekly :Trend resistance at 22.13
Daily :A Parabolic SAR indicator is above and near the pricePrice is near the Fibonacci 23.6% retracement levelThe price moved above the moving average in the center of the Bollinger BandsPrice is close to the 50 Day Moving Average
Move cursor over the icon to see details.

It was a second consecutive positive week for the iPath Dow Jones-AIG Commodity Idx TR ETN (DJP). During the week, the DJP gained 0.28 points, or 1.30%, and closed at 21.76 on Friday, September 6, 2019. Weekly volume was -43% below average.

Long-term trend: [See DJP long-term trend chart]
A long-term downtrend had started on May 29, 2018 at 25.80 and reached 20.38 on December 26, 2018. DJP lost 5.42 points, or 21.01%, in 30 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The price is near the trend resistance line (22.13). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a long-term trend.

Medium-term trend: [See DJP medium-term trend chart]
A medium-term downtrend had started on April 10, 2019 at 23.33 and reached 21.05 on August 7, 2019. DJP lost 2.28 points, or 9.77%, in 17 weeks. The chart has formed a Falling Wedge chart pattern. The trend support level is at 20.98 and resistance is at 22.49. A Falling Wedge is a triangle formation with a noticeable slant to the downside. It represents the loss of a downside momentum on each successive low and has a bullish bias. The Falling wedge usually marks a reversal in a downtrend. In an uptrend a falling wedge is considered to be a continuation pattern. Use the following link to access a Falling Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Wedge 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 below its signal line since August 2, 2019. 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 August 7, 2019 at 21.05 and reached 22.00 on September 4, 2019. DJP gained -0.95 points, or -4.51%, in 28 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 technical indicators are neutral.

The daily MACD line is above its signal line since August 23, 2019. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.

A Parabolic SAR (stop and reversal) indicator (21.55) comes close to the price (21.76). 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.

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.

Price is close to the 50 Day Moving Average. 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) 62.42
Williams' Percentage Range (W%R) 30.50
Lane's Stochastic (%D-Slow) 75.76
Greed/Fear Indicator (GFI) 69.22
Moving Average Converg./Diverg. (MACD) -0.09
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.25
Williams' Percentage Range (W%R) 68.60
Lane's Stochastic (%D-Slow) 22.51
Greed/Fear Indicator (GFI) 35.39
Moving Average Converg./Diverg. (MACD) -0.26
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 22.49
Yearly Trendline Resistance 22.13
Upper Bollinger Band 21.98
50 Day Moving Average 21.83
Daily Stochastic Crossing 21.82
Price 21.76
Parabolic System 21.55
20 Day Moving Average 21.48
Weekly Stochastic Crossing 21.48
Lower Bollinger Band 21.18
Monthly Trendline Support 21.05
Quarterly Trendline Support 20.98
Monthly Trendline Resistance 20.90
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 21.05
Low Date 08/23/2019
High 22.00
High Date 09/04/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 21.05
Low Date 08/07/2019
High 22.00
High Date 09/04/2019
Description Value
Direction Down
Chart Pattern Ascending Triangle
Status Broken Resistance
Resistance 20.90
Support 21.05
High 22.81
High Date 07/12/2019
Low 21.05
Low Date 08/07/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Valid
Resistance 22.49
Support 20.98
High 23.33
High Date 04/10/2019
Low 21.05
Low Date 08/07/2019
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Test Resistance
Resistance 22.13
Support 17.06
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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