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Advanced TA SearchArchive
- 5/10/2024 -
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Darden Restaurants (DRI) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
Move cursor over the icon to see details.
| | It was the negative week for the Darden Restaurants (DRI). During the week, the DRI gave back -1.00 points, or -0.67%, and closed at 148.25 on Friday, May 10, 2024. Weekly volume was 7% above average.
DRI is a member of Consumer Discretionary Sector. Consumer Discretionary is the second 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 143.05 and resistance is at 178.01. 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 (182.23) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. DRI may retest the broken support line. It is considered to be a resistance line now. 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 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 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 Broadening Descending Wedge chart pattern. The trend support level is at 135.15 and resistance is at 153.28. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See DRI 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 May 1, 2024. 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.
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