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- 11/25/2022 -
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Dow Jones (^DJI)
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|It was a first positive week for the Dow Jones (^DJI). During the week, the ^DJI gained 601.34 points, or 1.78%, and closed at 34347.03 on Friday, November 25, 2022. Weekly volume was -35% below average. |
Long-term trend: [See ^DJI long-term trend chart]
A long-term downtrend had started on January 5, 2022 at 36952.65 and reached 28660.94 on October 13, 2022. ^DJI lost 8291.71 points, or 22.44%, in 40 weeks. The price is now at the 68.58% retracement level.
Medium-term trend: [See ^DJI medium-term trend chart]
A medium-term uptrend had started on October 13, 2022 at 28660.94 and reached 34386.51 on November 25, 2022. ^DJI gained -5725.57 points, or -19.98%, in 6 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (34724.29) 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 ^DJI weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. 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 above its signal line since October 21, 2022. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.
Short-term trend: [See ^DJI short-term trend chart]
A short-term uptrend had started on November 17, 2022 at 33239.75 and reached 34386.51 on November 25, 2022. ^DJI gained -1146.76 points, or -3.45%, in 8 days. Price is near the trend high.
Daily Technical Indicators: [See ^DJI daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic. Daily MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal.
The daily MACD line is above its signal line since October 4, 2022. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.