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Archive
- 10/11/2024 -
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Dow Jones (^DJI) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a fifth consecutive positive week for the Dow Jones (^DJI). During the week, the ^DJI gained 511.11 points, or 1.21%, and closed at 42863.86 on Friday, October 11, 2024. Weekly volume was -21% below average.
 Long-term trend: [See ^DJI long-term trend chart]
A long-term uptrend had started on October 27, 2023 at 32327.20 and reached 42899.75 on October 11, 2024. ^DJI gained -10572.55 points, or -32.70%, in 50 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (39106.25) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 long-term trend.
 Medium-term trend: [See ^DJI medium-term trend chart]
A medium-term uptrend had started on April 17, 2024 at 37611.56 and reached 42899.75 on October 11, 2024. ^DJI gained -5288.19 points, or -14.06%, in 25 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 39073.55 and resistance is at 43323.90. 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 medium-term trend.
 Weekly Technical Indicators: [See ^DJI 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 August 16, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See ^DJI short-term trend chart]
A short-term uptrend had started on August 5, 2024 at 38499.27 and reached 42899.75 on October 11, 2024. ^DJI gained -4400.48 points, or -11.43%, in 67 days. Price is near the trend high.
 Daily Technical Indicators: [See ^DJI daily technical indicators chart]
Daily technical indicators are neutral. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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.
The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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.
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