The Greedy Trader Weekly Analysis
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Downtrend Resistance
Downtrend 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. Stock market alert is a warning signal. Downtrend Resistance stock alert indicates that price is near long-term resistance trendline and probability of short-term trend reversal is high.

The strategy is based on selling long (or taking short) position on downtrend testing resistance. The strategy has low to medium risk and average reword.
Technical analysis of stock trend chart following long term trend analysis and trend following indicator for downtrend resistance trend trading. Stock trend chart - following long term trend and downtrend resistance.
trend trading,trend following,stock trend chart,technical analysis of stock trend,trend following indicator,following long term trend,downtrend resistance
iPath Dow Jones-AIG Commodity Idx TR ETN
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Summary:
Weekly :Weekly  MACD line has moved above its signal lineBroken trend resistance line
Daily :Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are overboughtStochastic has declined below the signal line20 Day Moving Average has crossed above the 50 Day Moving Average
Move cursor over the icon to see details.

It was a third consecutive positive week for the iPath Dow Jones-AIG Commodity Idx TR ETN (DJP). During the week, the DJP gained 0.54 points, or 2.27%, and closed at 24.30 on Friday, October 05, 2018. Weekly volume was 11% above average.

Long-term trend: [See DJP long-term trend chart]
A long-term uptrend had started on January 20, 2016 at 19.50 and reached 25.80 on May 29, 2018. DJP gained -6.30 points, or -32.31%, in 122 weeks. The chart has formed a Descending Triangle chart pattern. The trend support level is at 23.52 and resistance is at 25.86. A Descending Triangle is a variation of triangle formation that has a flat support line and falling resistance line. The lower highs indicate the decreasing demand and give the descending triangle definitive bearish bias. A Descending Triangle usually represents a distribution stage in bearish market. A Descending Triangle is considered to be a continuation pattern, especially in a down trend, but it may also mark a reversal in an uptrend. Use the following link to access a Descending Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Descending Triangle pattern in a long-term trend.

Medium-term trend: [See DJP medium-term trend chart]
A medium-term downtrend had started on May 29, 2018 at 25.80 and reached 22.07 on August 17, 2018. DJP lost 3.73 points, or 14.46%, in 11 weeks. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (21.11) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. DJP may retest the broken resistance line. It is considered to be a support line now. 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 technical indicators are neutral.

During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. 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 September 17, 2018 at 22.75 and reached 24.65 on October 3, 2018. DJP gained -1.90 points, or -8.35%, in 16 days. The price is now at the 18.42% retracement level.

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

The daily MACD line is above its signal line since September 18, 2018. 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.

During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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) 82.08
Overbought
Williams' Percentage Range (W%R) 14.70
Overbought
Lane's Stochastic (%D-Slow) 87.24
Overbought
Greed/Fear Indicator (GFI) 84.86
Overbought
Moving Average Converg./Diverg. (MACD) 0.19
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 49.38
Williams' Percentage Range (W%R) 38.30
Lane's Stochastic (%D-Slow) 66.81
Greed/Fear Indicator (GFI) 61.50
Moving Average Converg./Diverg. (MACD) -0.26
Trading Signals
Description Value Chart
Yearly Trendline Resistance 25.86
Upper Bollinger Band 24.82
Daily Stochastic Crossing 24.45
Price 24.30
Parabolic System 24.02
Weekly Stochastic Crossing 23.94
20 Day Moving Average 23.53
Yearly Trendline Support 23.52
50 Day Moving Average 23.38
Lower Bollinger Band 22.61
Monthly Trendline Resistance 21.79
Monthly Trendline Support 21.11
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 22.75
Low Date 09/17/2018
High 24.65
High Date 10/03/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 22.07
Low Date 08/17/2018
High 24.65
High Date 10/03/2018
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 21.79
Support 21.11
High 25.80
High Date 05/29/2018
Low 22.07
Low Date 08/17/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 21.61
Low Date 06/22/2017
High 25.80
High Date 05/29/2018
Description Value
Direction Up
Chart Pattern Descending Triangle
Status Valid
Resistance 25.86
Support 23.52
Low 19.50
Low Date 01/20/2016
High 25.80
High Date 05/29/2018
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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