The Greedy Trader Weekly Analysis
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- 5/17/2024 -
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Darden Restaurants (DRI) Technical Analysis

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Summary:
Weekly :Broken trend support lineOversold sectorLane's Stochastic is oversoldStochastic has raised above the signal line
Daily :Broken trend resistance lineStochastic signal line moved above oversold areaDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week for the Darden Restaurants (DRI). During the week, the DRI gained 5.75 points, or 3.88%, and closed at 154.00 on Friday, May 17, 2024. It was the best weekly gain since February 23, 2024. DRI was trading at average weekly trading volume.

DRI is a member of Consumer Discretionary Sector. Consumer Discretionary is the most oversold 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 DRI long-term trend chart]
A long-term uptrend had started on June 16, 2022 at 110.96 and reached 176.84 on March 4, 2024. DRI gained -65.88 points, or -59.37%, in 89 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 143.38 and resistance is at 178.13. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a long-term trend.

Medium-term trend: [See DRI medium-term trend chart]
A medium-term uptrend had started on October 13, 2023 at 133.36 and reached 176.84 on March 4, 2024. DRI gained -43.48 points, or -32.60%, in 20 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (183.93) is broken. A broken support is considered to be a long-term bearish 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 support in a medium-term trend.

Weekly Technical Indicators: [See DRI weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish 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.

The weekly MACD line is below its signal line since March 28, 2024. Use the following link to access a MACD help.

Short-term trend: [See DRI short-term trend chart]
A short-term downtrend had started on March 4, 2024 at 176.84 and reached 145.77 on May 8, 2024. DRI lost 31.07 points, or 17.57%, in 65 days. The chart has formed a Falling Wedge chart pattern. The downtrend resistance line (143.53) 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 short-term trend.

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

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

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 46.50
Williams' Percentage Range (W%R) 41.20
Lane's Stochastic (%D-Slow) 75.20
Greed/Fear Indicator (GFI) 60.16
Moving Average Converg./Diverg. (MACD) -2.81
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 37.68
Williams' Percentage Range (W%R) 76.50
Lane's Stochastic (%D-Slow) 10.70
Oversold
Greed/Fear Indicator (GFI) 25.33
Moving Average Converg./Diverg. (MACD) 1.13
Trading Signals
Description Value Chart
Monthly Trendline Support 183.93
Quarterly Trendline Resistance 178.13
Upper Bollinger Band 158.80
50 Day Moving Average 158.58
Price 154.00
Daily Stochastic Crossing 152.64
20 Day Moving Average 151.49
Weekly Trendline Resistance 150.83
Weekly Stochastic Crossing 148.38
Parabolic System 146.92
Lower Bollinger Band 145.00
Weekly Trendline Support 143.53
Quarterly Trendline Support 143.38
Sector and Industry
Description Name Rank
Sector Consumer Discretionary 1
Industry Restaurants 37
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 145.77
Low Date 05/08/2024
High 154.09
High Date 05/17/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Broken Resistance
Resistance 150.83
Support 143.53
High 176.84
High Date 03/04/2024
Low 145.77
Low Date 05/08/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 185.89
Support 183.93
Low 133.36
Low Date 10/13/2023
High 176.84
High Date 03/04/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 178.13
Support 143.38
Low 110.96
Low Date 06/16/2022
High 176.84
High Date 03/04/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 13.21
Low Date 11/21/2008
High 176.84
High Date 03/04/2024
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.