The Greedy Trader Weekly Analysis
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Price vs. Upper Bollinger Band:Crossover
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Bollinger Band crossover - Stock market timing signal.

The Bollinger bands indicator developed by John Bollinger in the early 1980s is one of the most popular and powerful trading tools. These bands are charted two standard deviations away from a simple moving average, and they provide a relative definition of high and low. Bollinger bands trading technique uses one band as an entry point exit of the other. The center band presents a neutral support/resistance level. As with most indicators, signals generated by bollinger band crossover should be confirmed using complimentary indicators.

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- 2/16/2024 -
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Dow Jones (^DJI) Technical Analysis

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Summary:
Weekly :Broken trend support lineRelative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly overboughtStochastic has declined below the signal line
Daily :Daily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SAR
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It was the negative week for the Dow Jones (^DJI). During the week, the ^DJI gave back -43.70 points, or -0.11%, and closed at 38627.99 on Friday, February 16, 2024. Weekly volume was -7% below average.

Long-term trend: [See ^DJI long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 28660.94 and reached 38927.08 on February 12, 2024. ^DJI gained -10266.14 points, or -35.82%, in 69 weeks. Price is near the trend high.

Medium-term trend: [See ^DJI medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 32327.20 and reached 38927.08 on February 12, 2024. ^DJI gained -6599.88 points, or -20.42%, in 15 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (38954.06) 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 Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish 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, Relative Strength Index and Williams' Percentage Range help.

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 ^DJI short-term trend chart]
A short-term downtrend had started on February 12, 2024 at 38927.08 and reached 38039.86 on February 13, 2024. ^DJI lost 887.22 points, or 2.28%, in 1 days. The price is now at the 66.29% retracement level.

Daily Technical Indicators: [See ^DJI daily technical indicators chart]
Daily technical indicators are neutral.

During the last week, daily MACD line has moved below its signal line. Such crossover is considered a bearish signal.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.03
Williams' Percentage Range (W%R) 49.00
Lane's Stochastic (%D-Slow) 60.54
Greed/Fear Indicator (GFI) 55.52
Moving Average Converg./Diverg. (MACD) 339.58
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 94.53
Strong Overbought
Williams' Percentage Range (W%R) 8.40
Strong Overbought
Lane's Stochastic (%D-Slow) 92.62
Strong Overbought
Greed/Fear Indicator (GFI) 83.91
Overbought
Moving Average Converg./Diverg. (MACD) 885.94
Trading Signals
Description Value Chart
Monthly Trendline Resistance 39147.44
Monthly Trendline Support 38954.06
Upper Bollinger Band 38923.53
Parabolic System 38911.54
Weekly Stochastic Crossing 38796.69
Price 38627.99
Daily Stochastic Crossing 38524.53
20 Day Moving Average 38393.50
Lower Bollinger Band 37740.02
50 Day Moving Average 37729.48
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 38039.86
Low Date 02/13/2024
High 38825.03
High Date 02/16/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 38927.08
High Date 02/12/2024
Low 38039.86
Low Date 02/13/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 39147.44
Support 38954.06
Low 32327.20
Low Date 10/27/2023
High 38927.08
High Date 02/12/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 28660.94
Low Date 10/13/2022
High 38927.08
High Date 02/12/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 6440.08
Low Date 03/09/2009
High 38927.08
High Date 02/12/2024
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.