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- 5/10/2024 -
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DIAMONDS Trust, Series 1 (DIA) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a third positive week after 3 consecutive negative weeks for the DIAMONDS Trust, Series 1 (DIA). During the week, the DIA gained 8.41 points, or 2.17%, and closed at 395.18 on Friday, May 10, 2024. It was the best weekly gain since December 15, 2023. Weekly volume was -13% 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 398.82 on March 21, 2024. DIA gained -112.20 points, or -39.15%, in 75 weeks. Price is near the trend high.
 Medium-term trend: [See DIA medium-term trend chart]
A medium-term downtrend had started on March 21, 2024 at 398.82 and reached 376.14 on April 17, 2024. DIA lost 22.68 points, or 5.69%, in 3 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (379.94) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. DIA may retest the broken resistance line. It is considered to be a support line now. 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 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.
The weekly MACD line is below its signal line since April 5, 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 DIA short-term trend chart]
A short-term uptrend had started on April 17, 2024 at 376.14 and reached 395.90 on May 10, 2024. DIA gained -19.76 points, or -5.25%, in 23 days. The chart has formed a Symmetric Triangle chart pattern.
 Daily Technical Indicators: [See DIA daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic. Use the following link to access Lane's Stochastic help.
The daily MACD line is above its signal line since May 1, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term uptrend is strong.
During the last week, the price has advanced above the 50 Day Moving Average. While the medium-term trend is down and 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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