The Greedy Trader Weekly Analysis
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Bond & REIT ETFs Technical Analysis - DJP

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- 11/24/2023 -
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iPath Dow Jones-AIG Commodity Idx TR ETN (DJP) Technical Analysis

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Summary:
Weekly :Broken trend support line
Daily :Williams' Percentage Range is oversoldMACD bullish divergence
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It was the negative week for the iPath Dow Jones-AIG Commodity Idx TR ETN (DJP). During the week, the DJP gave back -0.09 points, or -0.29%, and closed at 31.29 on Friday, November 24, 2023. Weekly volume was -64% below average.

Long-term trend: [See DJP long-term trend chart]
A long-term downtrend had started on June 8, 2022 at 41.71 and reached 29.15 on May 31, 2023. DJP lost 12.56 points, or 30.11%, in 51 weeks. The price is now at the 17.04% retracement level.

Medium-term trend: [See DJP medium-term trend chart]
A medium-term downtrend had started on September 19, 2023 at 33.23 and reached 30.88 on October 5, 2023. DJP lost 2.35 points, or 7.07%, in 2 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend support line (33.73) is broken. Usually a broken support is considered to be a long-term bearish signal, although a short-term pull back is possible. 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 medium-term trend.

Weekly Technical Indicators: [See DJP weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since November 10, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term downtrend is getting stronger. 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 October 20, 2023 at 32.95 and reached 31.17 on November 24, 2023. DJP lost 1.78 points, or 5.40%, in 35 days. The price is now at the 6.74% retracement level.

Daily Technical Indicators: [See DJP daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. Daily MACD has bullish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 Williams' Percentage Range help.

The daily MACD line is below its signal line since November 6, 2023. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 33.05
Williams' Percentage Range (W%R) 83.10
Oversold
Lane's Stochastic (%D-Slow) 35.44
Greed/Fear Indicator (GFI) 28.46
Moving Average Converg./Diverg. (MACD) -0.17 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 45.79
Williams' Percentage Range (W%R) 63.60
Lane's Stochastic (%D-Slow) 45.94
Greed/Fear Indicator (GFI) 42.43
Moving Average Converg./Diverg. (MACD) 0.06
Trading Signals
Description Value Chart
Weekly Trendline Support 33.73
Upper Bollinger Band 32.66
Weekly Trendline Resistance 32.47
50 Day Moving Average 32.10
20 Day Moving Average 31.85
Parabolic System 31.84
Weekly Stochastic Crossing 31.74
Daily Stochastic Crossing 31.54
Price 31.29
Lower Bollinger Band 30.89
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 32.95
High Date 10/20/2023
Low 31.17
Low Date 11/24/2023
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Support
Resistance 32.47
Support 33.73
High 33.23
High Date 09/19/2023
Low 30.88
Low Date 10/05/2023
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 29.15
Low Date 05/31/2023
High 33.23
High Date 09/19/2023
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 Uptrend
Status
Resistance
Support
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.