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