The Greedy Trader Weekly Analysis
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Yearly Price vs. Trendline:Broken Resistance
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Trend Line Resistance Trend Line Support Resistance.
Trendline support resistance provides an excellent buy/sell signals in trending market. On an uptrend, buy around the support trend line level and place a stop order below the trend line support. Take profit on the trend line resistance level. Reverse the technique in a downtrend. Short around the resistance trend line level and place a stop order above the trend line resistance.
Resistance Trend Line,Trend Line Resistance,Trend Line Support,Support Resistance,support and resistance,chart trend line,trend support

Dow Jones (^DJI)

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Summary:
Weekly :Weekly  MACD line has moved above its signal line
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtThe price has fallen below the Parabolic SAR20 Day Moving Average has crossed above the 50 Day Moving Average
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It was the negative week for the Dow Jones (^DJI). During the week, the ^DJI gave back -41.66 points, or -0.13%, and closed at 32803.47 on Friday, August 5, 2022. Weekly volume was -15% below average.

Long-term trend: [See ^DJI long-term trend chart]
A long-term uptrend had started on March 9, 2009 at 6440.08 and reached 36952.65 on January 5, 2022. ^DJI gained -30512.57 points, or -473.79%, in 669 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 25018.45 and resistance is at 37609.82. 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 long-term trend.

Medium-term trend: [See ^DJI medium-term trend chart]
A medium-term downtrend had started on January 5, 2022 at 36952.65 and reached 29653.29 on June 17, 2022. ^DJI lost 7299.36 points, or 19.75%, in 23 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 28559.13 and resistance is at 34031.79. 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 medium-term trend.

Weekly Technical Indicators: [See ^DJI 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 ^DJI short-term trend chart]
A short-term uptrend had started on June 17, 2022 at 29653.29 and reached 32972.03 on August 1, 2022. ^DJI gained -3318.74 points, or -11.19%, in 45 days. The price is now at the 5.08% retracement level.

Daily Technical Indicators: [See ^DJI 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. 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 daily MACD line is above its signal line since June 24, 2022. This is an indication that the short-term trend is up.

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 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) 74.50
Williams' Percentage Range (W%R) 13.40
Overbought
Lane's Stochastic (%D-Slow) 80.52
Overbought
Greed/Fear Indicator (GFI) 80.55
Overbought
Moving Average Converg./Diverg. (MACD) 265.36
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 49.20
Williams' Percentage Range (W%R) 49.60
Lane's Stochastic (%D-Slow) 56.69
Greed/Fear Indicator (GFI) 52.92
Moving Average Converg./Diverg. (MACD) -790.78
Trading Signals
Description Value Chart
Yearly Trendline Resistance 37609.82
Monthly Trendline Resistance 34031.79
Upper Bollinger Band 33529.96
Parabolic System 33005.00
Price 32803.47
Daily Stochastic Crossing 32721.95
20 Day Moving Average 31920.92
Weekly Stochastic Crossing 31724.05
50 Day Moving Average 31711.71
Lower Bollinger Band 30684.55
Monthly Trendline Support 28559.13
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Low 30143.93
Low Date 07/14/2022
High 32972.03
High Date 08/01/2022
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 29653.29
Low Date 06/17/2022
High 32972.03
High Date 08/01/2022
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 34031.79
Support 28559.13
High 36952.65
High Date 01/05/2022
Low 29653.29
Low Date 06/17/2022
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 15370.33
Low Date 08/24/2015
High 36952.65
High Date 01/05/2022
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 37609.82
Support 25018.45
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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