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Downtrend ExhaustionArchive
- 12/13/2024 -
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Dow Chemical (DOW) Technical Analysis
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| Summary:
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| | It was the negative week for the Dow Chemical (DOW). During the week, the DOW dropped -1.13 points, or -2.69%, and closed at 40.86 on Friday, December 13, 2024. Weekly volume was 102% above average.
DOW is a member of Materials Sector. Materials is the most oversold sector. DOW is a member of Commodity Chemicals Industry. Commodity Chemicals is the most oversold industry. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See DOW long-term trend chart]
A long-term downtrend had started on February 7, 2023 at 60.88 and reached 40.43 on December 13, 2024. DOW lost 20.45 points, or 33.59%, in 96 weeks. Price is near the trend low.
 Medium-term trend: [See DOW medium-term trend chart]
A medium-term downtrend had started on April 4, 2024 at 60.69 and reached 40.43 on December 13, 2024. DOW lost 20.26 points, or 33.38%, in 36 weeks. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The downtrend support line (47.62) is broken, while daily and weekly technical indicators are oversold. Downtrend 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 support in a medium-term trend.
 Weekly Technical Indicators: [See DOW weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold 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 and Williams' Percentage Range help.
The weekly MACD line is below its signal line since October 18, 2024. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term downtrend is strong. Use the following link to access a MACD help.
 Short-term trend: [See DOW short-term trend chart]
A short-term downtrend had started on September 27, 2024 at 55.67 and reached 40.43 on December 13, 2024. DOW lost 15.24 points, or 27.38%, in 77 days. The chart has formed a Falling Channel chart pattern. The trend support level is at 40.03 and resistance is at 42.54. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a short-term trend.
 Daily Technical Indicators: [See DOW daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range and Lane's Stochastic.
The daily MACD line is below its signal line since December 11, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term downtrend is getting stronger.
The price has closed on Friday below the lower Bollinger Band. It is considered a bearish signal. 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.
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