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Archive
- 11/8/2024 -
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Dow Jones (^DJI) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
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| | It was a first positive week for the Dow Jones (^DJI). During the week, the ^DJI gained 1936.80 points, or 4.61%, and closed at 43988.99 on Friday, November 8, 2024. Weekly volume was 19% above average.
 Long-term trend: [See ^DJI long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 28660.94 and reached 44157.29 on November 8, 2024. ^DJI gained -15496.35 points, or -54.07%, in 108 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (36148.16) 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 long-term trend.
Medium-term trend: [See ^DJI medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 32327.20 and reached 44157.29 on November 8, 2024. ^DJI gained -11830.09 points, or -36.59%, in 54 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (42098.92) 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 ^DJI weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. 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. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. 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 April 17, 2024 at 37611.56 and reached 44157.29 on November 8, 2024. ^DJI gained -6545.73 points, or -17.40%, in 205 days. The chart has formed a Broadening Ascending Wedge chart pattern. The price is near the trend resistance line (43802.98). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a short-term trend.
 Daily Technical Indicators: [See ^DJI daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. 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.
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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