- 5/19/2023 -
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iShares Lehman Aggregate Bond (AGG)
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|It was the negative week for the iShares Lehman Aggregate Bond (AGG). During the week, the AGG dropped -1.31 points, or -1.32%, and closed at 98.08 on Friday, May 19, 2023. It was the worst weekly loss since February 10, 2023. AGG was trading at average weekly trading volume. |
Long-term trend: [See AGG long-term trend chart]
A long-term downtrend had started on August 6, 2020 at 119.73 and reached 93.20 on October 21, 2022. AGG lost 26.53 points, or 22.16%, in 115 weeks. The price is now at the 18.39% retracement level.
Medium-term trend: [See AGG medium-term trend chart]
A medium-term uptrend had started on October 21, 2022 at 93.20 and reached 101.15 on February 2, 2023. AGG gained -7.95 points, or -8.53%, in 14 weeks. The chart has formed a Ascending Triangle chart pattern. The price is near the trend support (97.91) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.
Weekly Technical Indicators: [See AGG weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since November 18, 2022. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
Short-term trend: [See AGG short-term trend chart]
A short-term downtrend had started on May 4, 2023 at 100.42 and reached 98.00 on May 19, 2023. AGG lost 2.42 points, or 2.41%, in 15 days. Price is near the trend low.
Daily Technical Indicators: [See AGG daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly oversold. Use the Technical Stock Screener to see the list of stocks with daily 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 daily MACD line is below its signal line since May 5, 2023. This is an indication that the short-term trend is down.
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.
The price touches the lower Bollinger Band. 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.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. 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.