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- 3/28/2024 -
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iPath Dow Jones-AIG Commodity Idx TR ETN (DJP) Technical Analysis

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Summary:
Weekly :
Daily :Stochastic signal line moved below overbought areaDaily  MACD line has moved below its signal lineThe price has risen above the Parabolic SAR
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It was a first positive week for the iPath Dow Jones-AIG Commodity Idx TR ETN (DJP). During the week, the DJP climbed 0.25 points, or 0.81%, and closed at 31.10 on Thursday, March 28, 2024. Weekly volume was -50% below average.

Long-term trend: [See DJP long-term trend chart]
A long-term uptrend had started on March 18, 2020 at 15.61 and reached 41.71 on June 8, 2022. DJP gained -26.10 points, or -167.20%, in 116 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 32.64 and resistance is at 29.74. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend.

Medium-term trend: [See DJP medium-term trend chart]
A medium-term uptrend had started on February 14, 2024 at 29.40 and reached 31.23 on March 21, 2024. DJP gained -1.83 points, or -6.22%, in 5 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 30.52 and resistance is at 31.53. 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 DJP weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since March 8, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See DJP short-term trend chart]
A short-term downtrend had started on March 21, 2024 at 31.23 and reached 30.50 on March 27, 2024. DJP lost 0.73 points, or 2.34%, in 6 days. The price is now at the 82.19% retracement level.

Daily Technical Indicators: [See DJP daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal. 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.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 63.59
Williams' Percentage Range (W%R) 29.00
Lane's Stochastic (%D-Slow) 47.79
Greed/Fear Indicator (GFI) 60.79
Moving Average Converg./Diverg. (MACD) 0.23
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.34
Williams' Percentage Range (W%R) 56.20
Lane's Stochastic (%D-Slow) 73.01
Greed/Fear Indicator (GFI) 57.10
Moving Average Converg./Diverg. (MACD) -0.41
Trading Signals
Description Value Chart
Yearly Trendline Support 32.64
Weekly Trendline Resistance 31.53
Upper Bollinger Band 31.38
Price 31.10
Weekly Stochastic Crossing 30.96
Daily Stochastic Crossing 30.85
20 Day Moving Average 30.77
Weekly Trendline Support 30.52
Parabolic System 30.47
50 Day Moving Average 30.31
Lower Bollinger Band 30.10
Yearly Trendline Resistance 29.74
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 31.23
High Date 03/21/2024
Low 30.50
Low Date 03/27/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 31.53
Support 30.52
Low 29.40
Low Date 02/14/2024
High 31.23
High Date 03/21/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 33.23
High Date 09/19/2023
Low 29.40
Low Date 02/14/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 41.71
High Date 06/08/2022
Low 29.15
Low Date 05/31/2023
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Valid
Resistance 29.74
Support 32.64
Low 15.61
Low Date 03/18/2020
High 41.71
High Date 06/08/2022
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.