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Advanced TA SearchArchive - 3/8/2024 - Sign In to see current Signals. |
Dow Jones (^DJI) Technical Analysis
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| Summary:
| | Weekly : | | Daily : Move cursor over the icon to see details.
| | 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.
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