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Downtrend Broken Resist.Archive
- 7/19/2024 -
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Dover Corp. (DOV) Technical Analysis
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| Summary:
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| | It was the negative week for the Dover Corp. (DOV). During the week, the DOV gave back -0.82 points, or -0.44%, and closed at 183.70 on Friday, July 19, 2024. Weekly volume was 13% above average.
 Long-term trend: [See DOV long-term trend chart]
A long-term uptrend had started on October 31, 2023 at 127.25 and reached 192.31 on July 17, 2024. DOV gained -65.06 points, or -51.13%, in 37 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 179.75 and resistance is at 200.08. A Rising 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 Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.
 Medium-term trend: [See DOV medium-term trend chart]
A medium-term uptrend had started on July 5, 2024 at 174.16 and reached 192.31 on July 17, 2024. DOV gained -18.15 points, or -10.42%, in 1 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 177.46 and resistance is at 196.27. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See DOV weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Weekly Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since June 7, 2024. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.
 Short-term trend: [See DOV short-term trend chart]
A short-term downtrend had started on July 17, 2024 at 192.31 and reached 182.76 on July 19, 2024. DOV lost 9.55 points, or 4.97%, in 2 days. The price is now at the 9.84% retracement level.
 Daily Technical Indicators: [See DOV daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since July 10, 2024.
A Parabolic SAR (stop and reversal) indicator (181.94) comes close to the price (183.70). 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.
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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