The Greedy Trader Weekly Analysis
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Downtrend Broken Resistance
Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.
Technical analysis of stock trend chart following long term trend analysis and trend following indicator for broken resistance trend trading. Stock trend analysis and broken resistance trend following indicators.
trend trading,trend following,stock trend chart,technical analysis of stock trend,trend following indicator,following long term trend,Broken Resistance

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

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Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range and Lane's Stochastic are strongly overbought
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtStochastic has declined below the signal line
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It was a second consecutive positive week for the iPath Dow Jones-AIG Commodity Idx TR ETN (DJP). During the week, the DJP gained 0.23 points, or 1.23%, and closed at 18.89 on Friday, July 31, 2020. Weekly volume was -66% 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 15.61 on March 18, 2020. DJP lost 10.19 points, or 39.50%, in 94 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 14.07 and resistance is at 19.58. 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 long-term trend.

Medium-term trend: [See DJP medium-term trend chart]
A medium-term uptrend had started on March 18, 2020 at 15.61 and reached 19.03 on July 29, 2020. DJP gained -3.42 points, or -21.91%, in 19 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (17.40) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 medium-term trend.

Weekly Technical Indicators: [See DJP weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range and Lane's Stochastic. 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 above its signal line since May 29, 2020. 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 uptrend had started on June 26, 2020 at 16.93 and reached 19.03 on July 29, 2020. DJP gained -2.10 points, or -12.40%, in 33 days. The chart has formed a Rising Wedge chart pattern. The trend support level is at 18.64 and resistance is at 19.12. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a short-term trend.

Daily Technical Indicators: [See DJP daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. 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.

The daily MACD line is above its signal line since June 30, 2020. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 79.04
Williams' Percentage Range (W%R) 17.60
Overbought
Lane's Stochastic (%D-Slow) 87.04
Overbought
Greed/Fear Indicator (GFI) 82.81
Overbought
Moving Average Converg./Diverg. (MACD) 0.32
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 77.31
Williams' Percentage Range (W%R) 6.40
Strong Overbought
Lane's Stochastic (%D-Slow) 90.39
Strong Overbought
Greed/Fear Indicator (GFI) 82.81
Overbought
Moving Average Converg./Diverg. (MACD) -0.89
Trading Signals
Description Value Chart
Yearly Trendline Resistance 19.58
Monthly Trendline Resistance 19.28
Weekly Trendline Resistance 19.12
Upper Bollinger Band 19.02
Daily Stochastic Crossing 18.91
Price 18.89
Weekly Stochastic Crossing 18.85
Weekly Trendline Support 18.64
Monthly Trendline Support 18.55
Parabolic System 18.44
20 Day Moving Average 18.34
Quarterly Trendline Resistance 17.97
50 Day Moving Average 17.70
Lower Bollinger Band 17.65
Quarterly Trendline Support 17.40
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 18.52
Low Date 07/30/2020
High 18.89
High Date 07/31/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 19.12
Support 18.64
Low 16.93
Low Date 06/26/2020
High 19.03
High Date 07/29/2020
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 19.28
Support 18.55
Low 16.84
Low Date 06/15/2020
High 19.03
High Date 07/29/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 17.97
Support 17.40
Low 15.61
Low Date 03/18/2020
High 19.03
High Date 07/29/2020
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 19.58
Support 14.07
High 25.80
High Date 05/29/2018
Low 15.61
Low Date 03/18/2020
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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