The Greedy Trader Weekly Analysis
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Price vs. 20 Day Moving Average:Crossover
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Moving Average Crossover - stock market timing alerts.

The moving average is one of the oldest analytical tools for stock market alerts. It shows the average value of the stock price over a period of time and is used to emphasize the the direction of a trend. While the price is below the moving average, it is considered as bearish behavior in relation to the trend length being viewed.

When the price falls from the level above the moving average to the level below the moving average, it warns that the price trend being viewed may be weakening, and it presents stock market timing alerts. The moving average is a lagging indicator of the price trend.

Moving average and stock price crossover is a stock trading signal. The basic interpretation is to buy when the stock price moves above its moving average and sell when the price moves below its moving average. The length of the moving average should match the trend time frame. We use a 20-day moving average crossover to identify weekly trend and 50-day moving average crossover for monthly trend stock market alerts.

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- 3/8/2024 -
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Dow Jones (^DJI) Technical Analysis

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Summary:
Weekly :Broken trend support lineRelative Strength Index and Lane's Stochastic are overboughtWilliams' Percentage Range is strongly overboughtStochastic has declined below the signal line
Daily :A Parabolic SAR indicator is above and near the pricePrice is near the Fibonacci 38.2% retracement levelThe price is close to the moving average in the center of the Bollinger BandsThe period of low volatility of the stock price
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It was the negative week for the Dow Jones (^DJI). During the week, the ^DJI gave back -364.69 points, or -0.93%, and closed at 38722.69 on Friday, March 8, 2024. It was the worst weekly loss since October 27, 2023. Weekly volume was 15% above 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 39282.28 on February 23, 2024. ^DJI gained -10621.34 points, or -37.06%, in 71 weeks. The price is now at the 5.27% retracement level.

Medium-term trend: [See ^DJI medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 32327.20 and reached 39282.28 on February 23, 2024. ^DJI gained -6955.08 points, or -21.51%, in 17 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (39633.33) 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 and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index and Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. 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 March 1, 2024 at 39120.36 and reached 38457.83 on March 5, 2024. ^DJI lost 662.53 points, or 1.69%, in 4 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

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

The daily MACD line is below its signal line since February 26, 2024. This is an indication that the short-term trend is down.

A Parabolic SAR (stop and reversal) indicator (38565.56) comes close to the price (38722.69). It indicates that the trend is getting weaker. 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 is close to the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands is falling, and it was 2.41% on Friday. It is 50.40% lower than one year average. It indicates the period of low volatility of the stock price. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.74
Williams' Percentage Range (W%R) 40.70
Lane's Stochastic (%D-Slow) 38.28
Greed/Fear Indicator (GFI) 50.11
Moving Average Converg./Diverg. (MACD) 234.20
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 82.35
Overbought
Williams' Percentage Range (W%R) 7.30
Strong Overbought
Lane's Stochastic (%D-Slow) 86.72
Overbought
Greed/Fear Indicator (GFI) 80.43
Overbought
Moving Average Converg./Diverg. (MACD) 1037.17
Trading Signals
Description Value Chart
Monthly Trendline Resistance 39835.93
Monthly Trendline Support 39633.33
Upper Bollinger Band 39181.97
Weekly Stochastic Crossing 38957.88
20 Day Moving Average 38788.42
Price 38722.69
Daily Stochastic Crossing 38660.56
Parabolic System 38565.56
50 Day Moving Average 38266.94
Lower Bollinger Band 38248.27
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 39120.36
High Date 03/01/2024
Low 38457.83
Low Date 03/05/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 39282.28
High Date 02/23/2024
Low 38457.83
Low Date 03/05/2024
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 39835.93
Support 39633.33
Low 32327.20
Low Date 10/27/2023
High 39282.28
High Date 02/23/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 28660.94
Low Date 10/13/2022
High 39282.28
High Date 02/23/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 6440.08
Low Date 03/09/2009
High 39282.28
High Date 02/23/2024
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.