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.
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- 11/19/2021 -
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Dow Jones (^DJI)

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Summary:
Weekly :Lane's Stochastic is overboughtBroken trend resistance line
Daily :Lane's Stochastic is oversoldThe 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 -498.33 points, or -1.38%, and closed at 35601.98 on Friday, November 19, 2021. It was the worst weekly loss since September 10, 2021. Weekly volume was 31% above 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 36565.73 on November 8, 2021. ^DJI gained -30125.65 points, or -467.78%, in 661 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (24052.03) 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 September 20, 2021 at 33613.03 and reached 36565.73 on November 8, 2021. ^DJI gained -2952.70 points, or -8.78%, in 7 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 34456.40 and resistance is at 37017.11. 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 Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 link to access Lane's Stochastic help.

The weekly MACD line is below its signal line since June 4, 2021. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.

Short-term trend: [See ^DJI short-term trend chart]
A short-term downtrend had started on November 8, 2021 at 36565.73 and reached 35555.37 on November 19, 2021. ^DJI lost 1010.36 points, or 2.76%, in 11 days. Price is near the trend low.

Daily Technical Indicators: [See ^DJI daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic.

The daily MACD line is below its signal line since November 10, 2021. This is an indication that the short-term trend is down.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 41.72
Williams' Percentage Range (W%R) 63.90
Lane's Stochastic (%D-Slow) 19.28
Oversold
Greed/Fear Indicator (GFI) 32.38
Moving Average Converg./Diverg. (MACD) 269.68
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 50.86
Williams' Percentage Range (W%R) 23.20
Lane's Stochastic (%D-Slow) 89.74
Overbought
Greed/Fear Indicator (GFI) 72.74
Moving Average Converg./Diverg. (MACD) 666.97
Trading Signals
Description Value Chart
Weekly Trendline Resistance 37017.11
Upper Bollinger Band 36320.18
Parabolic System 36256.41
Weekly Stochastic Crossing 36252.95
20 Day Moving Average 35980.12
Daily Stochastic Crossing 35688.59
Price 35601.98
Lower Bollinger Band 35356.71
50 Day Moving Average 35198.85
Weekly Trendline Support 34456.40
Yearly Trendline Resistance 32278.48
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 36565.73
High Date 11/08/2021
Low 35555.37
Low Date 11/19/2021
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 37017.11
Support 34456.40
Low 33613.03
Low Date 09/20/2021
High 36565.73
High Date 11/08/2021
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 18213.65
Low Date 03/23/2020
High 36565.73
High Date 11/08/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 15370.33
Low Date 08/24/2015
High 36565.73
High Date 11/08/2021
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 32278.48
Support 24052.03
Low 6440.08
Low Date 03/09/2009
High 36565.73
High Date 11/08/2021
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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