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- 4/26/2024 -
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Dominion Resources (D) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a third consecutive positive week for the Dominion Resources (D). During the week, the D gained 0.61 points, or 1.22%, and closed at 50.45 on Friday, April 26, 2024. Weekly volume was -19% below average.
D is a member of Utilities Sector. Utilities 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 D long-term trend chart]
A long-term downtrend had started on April 11, 2022 at 88.78 and reached 39.18 on October 23, 2023. D lost 49.60 points, or 55.87%, in 80 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 26.51 and resistance is at 74.53. A Broadening Descending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.
 Medium-term trend: [See D medium-term trend chart]
A medium-term uptrend had started on October 23, 2023 at 39.18 and reached 51.36 on April 24, 2024. D gained -12.18 points, or -31.09%, in 26 weeks. The price is now at the 7.47% retracement level.
 Weekly Technical Indicators: [See D weekly technical indicators chart]
Weekly 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 weekly Lane's Stochastic or strongly 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since November 10, 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 D short-term trend chart]
A short-term uptrend had started on February 13, 2024 at 43.53 and reached 51.36 on April 24, 2024. D gained -7.83 points, or -17.99%, in 71 days. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (47.17) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 short-term trend.
 Daily Technical Indicators: [See D daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
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