The Greedy Trader Weekly Analysis
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Daily W%R:< 20
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Williams' Percentage Range (W%R)
Williams' %R is an effective momentum indicator that measures overbought/oversold levels. Like other indicators, W%R ranges between 0% and 100% , but in opposite to the other indicators, the 0% indicating overbought and 100% - the oversold stocks. W%R measures the closing price in relation to the recent low/high range. A bullish signal is generated when the W%R has reached 100, five time bars have elapsed, and the W%R has subsequently fallen to 95. A reverse signal is considered as bearish. For the sake of simplicity, the W%R closed above 10% is considered bearish and below 90% - bullish. In trending markets, the W%R stays at one end of the scale and gives false signals to trade against the trend. That is why W%R is not considered a stand-along technique, and it is essential to use it with some sort of trend formation indicators. The divergence between price and W%R rarely occurs and presents an important buy/sell signal. As our research shows, the W%R move to upper or lower bounds can be used as an earliest signal of an impending reversal. Using the Williams %R bullish divergence/bearish divergence, chart patterns, trendlines, support, and resistance lines along with the W%R chart can be very useful.
Williams' Percentage Range - overbought oversold stocks.
Williams' Percentage Range,oversold stocks,overbought,overbought oversold
Williams Percentage Range - Williams %R Bullish Divergence - W%R Bullish Divergence.
Williams Percentage Range,Bullish Divergence,Williams %R Bullish Divergence,W%R Bullish Divergence,W%R indicator,William's Percentage Range

Dow Jones (^DJI)

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Summary:
Weekly :Relative Strength Index is overboughtWilliams' Percentage Range is strongly overboughtStochastic signal line moved below overbought areaBroken trend resistance lineTrend resistance at 33487.83
Daily :Stochastic signal line moved below overbought areaDaily  MACD line has moved above its signal line
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It was a second consecutive positive week for the Dow Jones (^DJI). During the week, the ^DJI climbed 226.94 points, or 0.66%, and closed at 34756.39 on Friday, June 4, 2021. Weekly volume was -13% below 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 35091.56 on May 10, 2021. ^DJI gained -28651.48 points, or -444.89%, in 635 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (23407.75) 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 March 23, 2020 at 18213.65 and reached 35091.56 on May 10, 2021. ^DJI gained -16877.91 points, or -92.67%, in 59 weeks. The chart has formed a Rising Wedge chart pattern. The price is near the trend resistance line (33487.83). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a medium-term trend.

Weekly Technical Indicators: [See ^DJI weekly technical indicators chart]
Weekly Relative Strength Index is 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 or strongly overbought weekly Williams' Percentage Range. 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 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 6, 2020. 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 uptrend had started on October 30, 2020 at 26143.77 and reached 35091.56 on May 10, 2021. ^DJI gained -8947.79 points, or -34.23%, in 192 days. The chart has formed a Rising Channel chart pattern. The trend support level is at 34081.40 and resistance is at 36000.07. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a short-term trend.

Daily Technical Indicators: [See ^DJI daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.

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

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 62.03
Williams' Percentage Range (W%R) 29.20
Lane's Stochastic (%D-Slow) 78.56
Greed/Fear Indicator (GFI) 70.45
Moving Average Converg./Diverg. (MACD) 181.97
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 82.31
Overbought
Williams' Percentage Range (W%R) 9.00
Strong Overbought
Lane's Stochastic (%D-Slow) 78.82
Greed/Fear Indicator (GFI) 77.09
Moving Average Converg./Diverg. (MACD) 1329.23
Trading Signals
Description Value Chart
Weekly Trendline Resistance 36000.07
Upper Bollinger Band 34937.82
Price 34756.39
Monthly Trendline Support 34730.05
Daily Stochastic Crossing 34705.77
Weekly Stochastic Crossing 34679.77
20 Day Moving Average 34344.51
Weekly Trendline Support 34081.40
50 Day Moving Average 33973.93
Parabolic System 33874.05
Lower Bollinger Band 33739.79
Monthly Trendline Resistance 33487.83
Yearly Trendline Resistance 31383.73
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 29856.30
Low Date 01/29/2021
High 35091.56
High Date 05/10/2021
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 36000.07
Support 34081.40
Low 26143.77
Low Date 10/30/2020
High 35091.56
High Date 05/10/2021
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Test Resistance
Resistance 33487.83
Support 34730.05
Low 18213.65
Low Date 03/23/2020
High 35091.56
High Date 05/10/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 15370.33
Low Date 08/24/2015
High 35091.56
High Date 05/10/2021
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 31383.73
Support 23407.75
Low 6440.08
Low Date 03/09/2009
High 35091.56
High Date 05/10/2021
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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