The Greedy Trader Weekly Analysis
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Dow Jones
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Summary:
Weekly :Stochastic signal line moved below overbought areaBroken trend resistance lineBroken trend resistance line
Daily :Williams' Percentage Range is oversoldPrice has crossed below the 50 Day Moving AverageBullish Harami CandlestickPrice is near the Fibonacci 23.6% retracement levelThe Bollinger Bands are historically far apart
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It was the negative week for the Dow Jones (^DJI). During the week, the ^DJI dropped -1330.06 points, or -5.21%, and closed at 24190.90 on Friday, February 09, 2018. Weekly volume was 130% above average.

Long-term trend: [See ^DJI long-term trend chart]
A long-term uptrend had started on March 9, 2009 at 6440.08 and reached 26616.71 on January 26, 2018. ^DJI gained -20176.63 points, or -313.30%, in 463 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (18704.69) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 ^DJI medium-term trend chart]
A medium-term uptrend had started on August 24, 2015 at 15370.33 and reached 26616.71 on January 26, 2018. ^DJI gained -11246.38 points, or -73.17%, in 126 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (23193.11) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 medium-term trend.

Weekly Technical Indicators: [See ^DJI weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. 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 link to access Lane's Stochastic help.

The weekly MACD line is above its signal line since September 15, 2017. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 January 26, 2018 at 26616.71 and reached 23360.29 on February 9, 2018. ^DJI lost 3256.42 points, or 12.23%, in 14 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See ^DJI daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. Use the following link to access Williams' Percentage Range help.

The daily MACD line is below its signal line since January 29, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.

The distance between the Bollinger Bands (13.08%) is close to one year high (8.59%). It is 265.12% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell signal for the option traders. 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 price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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.

Candlestick pattern: [See ^DJI candlestick chart pattern]
On Friday the chart has formed a Bullish Harami Candlestick pattern. A Bullish Harami indicates that the bearish trend may be reversing, it signals that it's a good time to enter into a long position. Use the Technical Stock Screener to see the list of stocks that had a Bullish Harami Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 29.14
Williams' Percentage Range (W%R) 80.60
Oversold
Lane's Stochastic (%D-Slow) 25.14
Greed/Fear Indicator (GFI) 24.56
Moving Average Converg./Diverg. (MACD) 103.83
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 55.49
Williams' Percentage Range (W%R) 59.70
Lane's Stochastic (%D-Slow) 79.87
Greed/Fear Indicator (GFI) 58.05
Moving Average Converg./Diverg. (MACD) 934.83
Trading Signals
Description Value Chart
Upper Bollinger Band 26876.70
Weekly Stochastic Crossing 25809.17
20 Day Moving Average 25703.25
Parabolic System 25184.81
50 Day Moving Average 25098.32
Monthly Trendline Resistance 24830.75
Price 24190.90
Daily Stochastic Crossing 24179.28
Lower Bollinger Band 23713.49
Monthly Trendline Support 23195.47
Quarterly Trendline Support 23193.11
Yearly Trendline Resistance 22165.79
Quarterly Trendline Resistance 19997.65
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 26616.71
High Date 01/26/2018
Low 23360.29
Low Date 02/09/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 20379.55
Low Date 04/19/2017
High 26616.71
High Date 01/26/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 24830.75
Support 23195.47
Low 15450.56
Low Date 01/20/2016
High 26616.71
High Date 01/26/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 19997.65
Support 23193.11
Low 15370.33
Low Date 08/24/2015
High 26616.71
High Date 01/26/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 22165.79
Support 18704.69
Low 6440.08
Low Date 03/09/2009
High 26616.71
High Date 01/26/2018
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.

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