Indices ETFs Technical Analysis - DIAArchive
- 11/24/2023 -
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DIAMONDS Trust, Series 1 (DIA) Technical Analysis
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|It was a fourth consecutive positive week for the DIAMONDS Trust, Series 1 (DIA). During the week, the DIA gained 4.40 points, or 1.26%, and closed at 353.80 on Friday, November 24, 2023. Weekly volume was -32% below average. |
Long-term trend: [See DIA long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 286.62 and reached 356.70 on August 1, 2023. DIA gained -70.08 points, or -24.45%, in 41 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (362.95) 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 long-term trend.
Medium-term trend: [See DIA medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 323.21 and reached 353.95 on November 24, 2023. DIA gained -30.74 points, or -9.51%, in 4 weeks. Price is near the trend high.
Weekly Technical Indicators: [See DIA weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. 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 Williams' Percentage Range help.
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 DIA short-term trend chart]
A short-term uptrend had started on November 9, 2023 at 338.77 and reached 353.95 on November 24, 2023. DIA gained -15.18 points, or -4.48%, in 15 days. Price is near the trend high.
Daily Technical Indicators: [See DIA 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. Daily Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following links to access Lane's Stochastic and Relative Strength Index help.
The daily MACD line is above its signal line since October 31, 2023. This is an indication that the short-term trend is up.
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.