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- 5/10/2024 -
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iShares Lehman Aggregate Bond (AGG) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
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| | It was a second positive week after 4 consecutive negative weeks for the iShares Lehman Aggregate Bond (AGG). During the week, the AGG climbed 0.05 points, or 0.05%, and closed at 96.24 on Friday, May 10, 2024. Weekly volume was -20% below average.
 Long-term trend: [See AGG long-term trend chart]
A long-term uptrend had started on October 23, 2023 at 91.58 and reached 99.70 on December 27, 2023. AGG gained -8.12 points, or -8.87%, in 9 weeks. The price is now at the 42.61% retracement level.
 Medium-term trend: [See AGG medium-term trend chart]
A medium-term downtrend had started on December 27, 2023 at 99.70 and reached 94.85 on April 25, 2024. AGG lost 4.85 points, or 4.86%, in 17 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 94.43 and resistance is at 97.23. A Broadening Descending 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 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 AGG weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 March 28, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
 Short-term trend: [See AGG short-term trend chart]
A short-term uptrend had started on April 25, 2024 at 94.85 and reached 96.67 on May 7, 2024. AGG gained -1.82 points, or -1.92%, in 12 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 95.23 and resistance is at 97.17. 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 short-term trend.
 Daily Technical Indicators: [See AGG daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Lane's Stochastic.
The daily MACD line is above its signal line since April 26, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.
A Parabolic SAR (stop and reversal) indicator (95.61) comes close to the price (96.24). It indicates that the trend is getting weaker. 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 is close to 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.
Price is close to the 50 Day Moving Average. While daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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.
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