PowerShares DB Agriculture Fund (DBA)
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|It was the negative week for the PowerShares DB Agriculture Fund (DBA). During the week, the DBA dropped -0.21 points, or -1.01%, and closed at 20.57 on Friday, May 26, 2023. It was the worst weekly loss since March 10, 2023. Weekly volume was -67% below average. |
Long-term trend: [See DBA long-term trend chart]
A long-term uptrend had started on June 26, 2020 at 13.15 and reached 23.01 on May 17, 2022. DBA gained -9.86 points, or -74.98%, in 98 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 19.77 and resistance is at 21.27. 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 DBA medium-term trend chart]
A medium-term uptrend had started on January 20, 2023 at 19.25 and reached 21.37 on April 18, 2023. DBA gained -2.12 points, or -11.01%, in 12 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 20.05 and resistance is at 21.82. 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 DBA weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since January 27, 2023. 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 DBA short-term trend chart]
A short-term uptrend had started on March 23, 2023 at 19.64 and reached 21.37 on April 18, 2023. DBA gained -1.73 points, or -8.81%, in 26 days. The chart has formed a Symmetric Triangle chart pattern. The uptrend support line (20.94) 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 short-term trend.
Daily Technical Indicators: [See DBA daily technical indicators chart]
Daily technical indicators are neutral. Daily Lane's Stochastic and MACD have bullish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bullish 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 link to access Lane's Stochastic help.
The daily MACD line is below its signal line since April 24, 2023.
During the last week, the price 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.
Candlestick pattern: [See DBA candlestick chart pattern]
On Friday the chart has formed a Bearish Downside Tasuki Gap Candlestick pattern. This is a rare continuation formation that appears in a strongly downward moving market. The reliability of the Bearish Downside Tasuki Gap pattern is medium. Use the Technical Stock Screener to see the list of stocks that had a Bearish Downside Tasuki Gap Candlestick pattern during the last week.