The Greedy Trader Weekly Analysis
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Monthly Pattern:Rising Wedge
Number of records: 10
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Rising Wedge Pattern (Ascending Wedge)

Rising Wedge Chart PatternA Rising Wedge pattern also known as Ascending Wedge pattern is one of the most reliable, low-risk, and high-reward chart pattern. A Rising Wedge (Ascending Wedge) pattern is a triangle formation with noticeable slant to the upside. The line that connects the bottoms of the formation represents a support trend line. The resistance trend line connects the formation's tops. The Rising Wedge pattern is valid when the price touched both the support and resistance lines alternatively at least tree times. Unlike the Rising Channel formation, where support and resistance lines are parallel, in a Rising Wedge formation the support line is noticeably steeper than the resistance line. A Rising Wedge represents the loss of the upside momentum and has a bearish bias.

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- 3/15/2024 -
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Dow Chemical (DOW) Technical Analysis

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Summary:
Weekly :Overbought sectorWilliams' Percentage Range and Lane's Stochastic are overboughtBroken trend resistance line
Daily :A Parabolic SAR indicator is above and near the price
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It was a second consecutive positive week for the Dow Chemical (DOW). During the week, the DOW climbed 0.43 points, or 0.76%, and closed at 57.04 on Friday, March 15, 2024. Weekly volume was 35% above average.

DOW is a member of Materials Sector. Materials is the most overbought sector. 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 April 21, 2022 at 71.86 and reached 42.91 on October 13, 2022. DOW lost 28.95 points, or 40.29%, in 25 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (48.89) is broken. A broken support is considered to be a long-term bullish 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 resistance line in a long-term trend.

Medium-term trend: [See DOW medium-term trend chart]
A medium-term uptrend had started on October 25, 2023 at 47.26 and reached 58.74 on March 13, 2024. DOW gained -11.48 points, or -24.29%, in 20 weeks. The price is now at the 14.81% retracement level.

Weekly Technical Indicators: [See DOW weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 above its signal line since December 1, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.

Short-term trend: [See DOW short-term trend chart]
A short-term uptrend had started on February 5, 2024 at 52.36 and reached 58.74 on March 13, 2024. DOW gained -6.38 points, or -12.18%, in 37 days. The chart has formed a Rising Wedge chart pattern.

Daily Technical Indicators: [See DOW daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since February 14, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

A Parabolic SAR (stop and reversal) indicator (56.94) comes close to the price (57.04). It indicates that the trend is getting weaker. 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) 57.61
Williams' Percentage Range (W%R) 32.40
Lane's Stochastic (%D-Slow) 65.37
Greed/Fear Indicator (GFI) 63.53
Moving Average Converg./Diverg. (MACD) 0.76
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 73.08
Williams' Percentage Range (W%R) 12.10
Overbought
Lane's Stochastic (%D-Slow) 80.73
Overbought
Greed/Fear Indicator (GFI) 74.40
Moving Average Converg./Diverg. (MACD) 0.51
Trading Signals
Description Value Chart
Upper Bollinger Band 58.09
Daily Stochastic Crossing 57.83
Weekly Stochastic Crossing 57.68
Price 57.04
Parabolic System 56.94
20 Day Moving Average 56.46
50 Day Moving Average 54.86
Lower Bollinger Band 54.70
Yearly Trendline Support 48.89
Yearly Trendline Resistance 45.67
Sector and Industry
Description Name Rank
Sector Materials 10
Industry Commodity Chemicals 98
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Low 52.36
Low Date 02/05/2024
High 58.74
High Date 03/13/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 52.04
Low Date 01/17/2024
High 58.74
High Date 03/13/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 47.26
Low Date 10/25/2023
High 58.74
High Date 03/13/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 42.91
Low Date 10/13/2022
High 60.88
High Date 02/07/2023
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 45.67
Support 48.89
High 71.86
High Date 04/21/2022
Low 42.91
Low Date 10/13/2022
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.