The Greedy Trader Weekly Analysis
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Daily MACD Divergence:Bearish
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Moving Average Convergence Divergence (MACD)
Moving Average Convergence Divergence (MACD indicator) was developed by Gerald Appel, and it represents the relationship between two moving averages. MACD crossover with the signal line warns about the trend weakening. MACD dramatic rise represents an overbought/oversold condition and indicates the trend exhaustion. The MACD divergence between price and indicator is the one of the most popular buy/sell MACD signals.
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Dow Jones (^DJI)

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Summary:
Weekly :Broken trend support lineBroken trend resistance line
Daily :Stochastic has declined below the signal lineDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARPrice has crossed below the 50 Day Moving AverageThe price has declined below the moving average in the center of the Bollinger Bands
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It was the negative week for the Dow Jones (^DJI). During the week, the ^DJI dropped -927.12 points, or -2.70%, and closed at 33375.49 on Friday, January 20, 2023. Weekly volume was -7% below average.

Long-term trend: [See ^DJI long-term trend chart]
A long-term downtrend had started on January 5, 2022 at 36952.65 and reached 28660.94 on October 13, 2022. ^DJI lost 8291.71 points, or 22.44%, in 40 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (27552.74) is broken. A broken support is considered to be a long-term bullish signal. 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 13, 2022 at 28660.94 and reached 34712.28 on December 13, 2022. ^DJI gained -6051.34 points, or -21.11%, in 8 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (34010.67) is broken. A broken support is considered to be a long-term bearish signal. 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 support in a medium-term trend.

Weekly Technical Indicators: [See ^DJI weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since October 21, 2022. 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 December 22, 2022 at 32573.43 and reached 34342.32 on January 13, 2023. ^DJI gained -1768.89 points, or -5.43%, in 22 days. The price is now at the 54.66% retracement level.

Daily Technical Indicators: [See ^DJI 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.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

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.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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.

During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish 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) 52.07
Williams' Percentage Range (W%R) 71.70
Lane's Stochastic (%D-Slow) 47.22
Greed/Fear Indicator (GFI) 42.52
Moving Average Converg./Diverg. (MACD) 83.22
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 69.38
Williams' Percentage Range (W%R) 27.10
Lane's Stochastic (%D-Slow) 58.12
Greed/Fear Indicator (GFI) 62.20
Moving Average Converg./Diverg. (MACD) 140.49
Trading Signals
Description Value Chart
Upper Bollinger Band 34298.25
Monthly Trendline Resistance 34271.85
Parabolic System 34238.56
Monthly Trendline Support 34010.67
Weekly Stochastic Crossing 33758.63
50 Day Moving Average 33583.08
Daily Stochastic Crossing 33432.03
20 Day Moving Average 33418.76
Price 33375.49
Quarterly Trendline Resistance 32868.77
Lower Bollinger Band 32698.47
Quarterly Trendline Support 27552.74
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 32573.43
Low Date 12/22/2022
High 34342.32
High Date 01/13/2023
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 34712.28
High Date 12/13/2022
Low 32573.43
Low Date 12/22/2022
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 34271.85
Support 34010.67
Low 28660.94
Low Date 10/13/2022
High 34712.28
High Date 12/13/2022
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 32868.77
Support 27552.74
High 36952.65
High Date 01/05/2022
Low 28660.94
Low Date 10/13/2022
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 6440.08
Low Date 03/09/2009
High 36952.65
High Date 01/05/2022
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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