The Greedy Trader Weekly Analysis
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Weekly Pattern:Rising Channel
Number of records: 10
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Channeling Stock - rising channel and falling channel.

Stock channeling technique is one of the most efficient and widely used trading technique. Price channel represents price movement bound by parallel lower (support) and upper (resistance) trend lines. Channels with rising trend lines (rising channel) are considered bullish and the falling channel is considered as bearish . Channels are continuation formations as far as support and resistance are not broken.
Trading technique:
# 1
Buy channeling stock on support and sell on resistance.
# 2 For bullish channel: sell channeling stock when price breakes the stock channeling support line. For bearish channel: buy channeling stock when price breaks the resistance line.
Tips:
# 1 For the best results, stock channeling should be considered together with other technical analysis signals and technical trading techniques.
Estimated Target: the main trend support/resistance line.

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- 3/15/2024 -
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DIAMONDS Trust, Series 1 (DIA) Technical Analysis

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Summary:
Weekly :Relative Strength Index and Lane's Stochastic are overboughtWilliams' Percentage Range is strongly overbought
Daily :The price has fallen below the Parabolic SARThe price has declined below the moving average in the center of the Bollinger BandsThe Bollinger Bands are historically close togetherPrice is close to the 50 Day Moving Average
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It was the negative week for the DIAMONDS Trust, Series 1 (DIA). During the week, the DIA gave back -1.03 points, or -0.27%, and closed at 386.96 on Friday, March 15, 2024. DIA was trading at average weekly trading volume.

Long-term trend: [See DIA long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 286.62 and reached 392.83 on February 23, 2024. DIA gained -106.21 points, or -37.06%, in 71 weeks. The price is now at the 5.53% retracement level.

Medium-term trend: [See DIA medium-term trend chart]
A medium-term uptrend had started on October 27, 2023 at 323.21 and reached 392.83 on February 23, 2024. DIA gained -69.62 points, or -21.54%, in 17 weeks. The price is now at the 8.43% retracement level.

Weekly Technical Indicators: [See DIA 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. 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 DIA short-term trend chart]
A short-term uptrend had started on March 5, 2024 at 384.92 and reached 392.79 on March 13, 2024. DIA gained -7.87 points, or -2.04%, in 8 days. The price is now at the 74.08% retracement level.

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

The daily MACD line is below its signal line since February 26, 2024. The distance between MACD and the signal line is low and getting smaller.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. 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.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (1.97%) is close to one year low (1.86%). It is 58.72% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy 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.

Price is close to the 50 Day Moving Average. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 39.67
Williams' Percentage Range (W%R) 53.50
Lane's Stochastic (%D-Slow) 62.29
Greed/Fear Indicator (GFI) 49.48
Moving Average Converg./Diverg. (MACD) 1.89
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 81.38
Overbought
Williams' Percentage Range (W%R) 7.30
Strong Overbought
Lane's Stochastic (%D-Slow) 85.26
Overbought
Greed/Fear Indicator (GFI) 78.37
Moving Average Converg./Diverg. (MACD) 10.71
Trading Signals
Description Value Chart
Parabolic System 392.62
Upper Bollinger Band 391.96
Daily Stochastic Crossing 390.22
Weekly Stochastic Crossing 389.96
20 Day Moving Average 388.92
Price 386.96
Lower Bollinger Band 384.33
50 Day Moving Average 384.03
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 384.92
Low Date 03/05/2024
High 392.79
High Date 03/13/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 392.83
High Date 02/23/2024
Low 384.92
Low Date 03/05/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 323.21
Low Date 10/27/2023
High 392.83
High Date 02/23/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 286.62
Low Date 10/13/2022
High 392.83
High Date 02/23/2024
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 64.78
Low Date 03/06/2009
High 392.83
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.