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Bond & REIT ETFs Technical Analysis - DBA

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- 3/28/2024 -
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PowerShares DB Agriculture Fund (DBA) Technical Analysis

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Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionBroken uptrend resistance line - uptrend exhaustionRelative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overbought
Daily :Relative Strength Index is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overboughtThe Bollinger Bands are historically far apart
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It was a sixth consecutive positive week for the PowerShares DB Agriculture Fund (DBA). During the week, the DBA gained 0.68 points, or 2.82%, and closed at 24.76 on Thursday, March 28, 2024. Weekly volume was 19% above average.

Long-term trend: [See DBA long-term trend chart]
A long-term uptrend had started on June 26, 2020 at 13.15 and reached 24.88 on March 26, 2024. DBA gained -11.73 points, or -89.20%, in 195 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (21.24) 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 DBA medium-term trend chart]
A medium-term uptrend had started on January 8, 2024 at 20.39 and reached 24.88 on March 26, 2024. DBA gained -4.49 points, or -22.02%, in 11 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (22.80) 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 DBA weekly technical indicators chart]
Weekly Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index or strongly overbought weekly 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, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since February 9, 2024. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See DBA short-term trend chart]
A short-term uptrend had started on March 1, 2024 at 22.03 and reached 24.88 on March 26, 2024. DBA gained -2.85 points, or -12.94%, in 25 days. Price is near the trend high.

Daily Technical Indicators: [See DBA daily technical indicators chart]
Daily Relative Strength Index is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index or strongly overbought daily Williams' Percentage Range and Lane's Stochastic.

The daily MACD line is above its signal line since March 8, 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.

The distance between the Bollinger Bands (13.89%) is close to one year high (10.80%). It is 151.51% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell signal for the option traders. 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) 88.96
Overbought
Williams' Percentage Range (W%R) 7.40
Strong Overbought
Lane's Stochastic (%D-Slow) 90.62
Strong Overbought
Greed/Fear Indicator (GFI) 90.74
Strong Overbought
Moving Average Converg./Diverg. (MACD) 0.55
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 85.90
Overbought
Williams' Percentage Range (W%R) 4.70
Strong Overbought
Lane's Stochastic (%D-Slow) 94.25
Strong Overbought
Greed/Fear Indicator (GFI) 87.79
Overbought
Moving Average Converg./Diverg. (MACD) 0.19
Trading Signals
Description Value Chart
Upper Bollinger Band 25.25
Price 24.76
Weekly Stochastic Crossing 24.72
Daily Stochastic Crossing 24.71
Parabolic System 24.31
20 Day Moving Average 23.35
Monthly Trendline Resistance 23.33
Monthly Trendline Support 22.80
50 Day Moving Average 22.41
Yearly Trendline Resistance 22.35
Lower Bollinger Band 21.80
Yearly Trendline Support 21.24
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 22.03
Low Date 03/01/2024
High 24.88
High Date 03/26/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 21.67
Low Date 02/16/2024
High 24.88
High Date 03/26/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 23.33
Support 22.80
Low 20.39
Low Date 01/08/2024
High 24.88
High Date 03/26/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 19.25
Low Date 01/20/2023
High 24.88
High Date 03/26/2024
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 22.35
Support 21.24
Low 13.15
Low Date 06/26/2020
High 24.88
High Date 03/26/2024
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.