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Electric Utilities Industry Stocks Technical Analysis - DTEArchive
- 4/5/2024 -
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DTE Energy Co. (DTE) Technical Analysis
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| Summary:
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| | It was the negative week for the DTE Energy Co. (DTE). During the week, the DTE dropped -3.04 points, or -2.71%, and closed at 109.10 on Friday, April 5, 2024. Weekly volume was -10% below average.
 Long-term trend: [See DTE long-term trend chart]
A long-term downtrend had started on May 10, 2021 at 145.43 and reached 90.14 on October 6, 2023. DTE lost 55.29 points, or 38.02%, in 125 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 85.32 and resistance is at 129.59. 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 long-term trend.
 Medium-term trend: [See DTE medium-term trend chart]
A medium-term uptrend had started on October 6, 2023 at 90.14 and reached 114.62 on December 14, 2023. DTE gained -24.48 points, or -27.16%, in 9 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend support line (110.30) 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 DTE weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since November 17, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See DTE short-term trend chart]
A short-term downtrend had started on March 11, 2024 at 114.05 and reached 107.07 on March 26, 2024. DTE lost 6.98 points, or 6.12%, in 15 days. The price is now at the 29.08% retracement level.
Daily Technical Indicators: [See DTE daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is below its signal line since April 2, 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.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 declined below 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.
Price is close to the 50 Day Moving Average. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.
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