PowerShares DB Agriculture Fund
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|It was a first positive week after 3 consecutive negative weeks for the PowerShares DB Agriculture Fund (DBA). During the week, the DBA gained 0.38 points, or 2.33%, and closed at 16.68 on Friday, March 15, 2019. It was the best weekly gain since October 5, 2018. Weekly volume was -31% below average. |
Long-term trend: [See DBA long-term trend chart]
A long-term downtrend had started on June 9, 2016 at 23.01 and reached 16.18 on March 7, 2019. DBA lost 6.83 points, or 29.68%, in 143 weeks. The price is now at the 7.32% retracement level.
Medium-term trend: [See DBA medium-term trend chart]
A medium-term downtrend had started on October 17, 2018 at 17.82 and reached 16.18 on March 7, 2019. DBA lost 1.64 points, or 9.20%, in 20 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 15.85 and resistance is at 16.95. 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 medium-term trend.
Weekly Technical Indicators: [See DBA weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since February 15, 2019. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. Use the following link to access a MACD help.
Short-term trend: [See DBA short-term trend chart]
A short-term downtrend had started on January 9, 2019 at 17.35 and reached 16.18 on March 7, 2019. DBA lost 1.17 points, or 6.74%, in 57 days. The price is now at the 42.74% retracement level.
Daily Technical Indicators: [See DBA daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
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.
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.