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Downtrend Broken Resist.Archive
- 5/10/2024 -
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Dow Chemical (DOW) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was a first positive week for the Dow Chemical (DOW). During the week, the DOW gained 2.38 points, or 4.17%, and closed at 59.41 on Friday, May 10, 2024. It was the best weekly gain since December 15, 2023. DOW was trading at average weekly trading volume.
DOW is a member of Materials Sector. Materials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See DOW long-term trend chart]
A long-term downtrend had started on April 21, 2022 at 71.86 and reached 42.91 on October 13, 2022. DOW lost 28.95 points, or 40.29%, in 25 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (49.54) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. DOW may retest the broken resistance line. It is considered to be a support line now. 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 resistance line in a long-term trend.
 Medium-term trend: [See DOW medium-term trend chart]
A medium-term uptrend had started on October 25, 2023 at 47.26 and reached 60.69 on April 4, 2024. DOW gained -13.43 points, or -28.42%, in 23 weeks. The price is now at the 9.53% retracement level.
 Weekly Technical Indicators: [See DOW 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. 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 Williams' Percentage Range help.
The weekly MACD line is above its signal line since December 1, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.
Short-term trend: [See DOW short-term trend chart]
A short-term uptrend had started on April 25, 2024 at 55.06 and reached 60.13 on May 10, 2024. DOW gained -5.07 points, or -9.21%, in 15 days. The price is now at the 14.20% retracement level.
 Daily Technical Indicators: [See DOW daily technical indicators chart]
Daily 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 daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Use the following link to access Lane's Stochastic help.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
During the last week, the price has moved above the moving average in the center of the Bollinger Bands. 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.
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