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Daily MACD Divergence:Bullish
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Moving Average Convergence Divergence (MACD)

Moving Average Convergence Divergence (MACD indicator) was developed by Gerald Appel, and it represents the relationship between two moving averages. MACD crossover with the signal line warns about the trend weakening. MACD dramatic rise represents an overbought/oversold condition and indicates the trend exhaustion. The MACD divergence between price and indicator is the one of the most popular buy/sell MACD signals.

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- 3/15/2024 -
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iPath Dow Jones-AIG Commodity Idx TR ETN (DJP) Technical Analysis

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Summary:
Weekly :Weekly  MACD line has moved above its signal line
Daily :Relative Strength Index and Williams' Percentage Range are overboughtLane's Stochastic is strongly overbought20 Day Moving Average has crossed above the 50 Day Moving Average
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It was a third consecutive positive week for the iPath Dow Jones-AIG Commodity Idx TR ETN (DJP). During the week, the DJP gained 0.50 points, or 1.64%, and closed at 31.01 on Friday, March 15, 2024. Weekly volume was -47% below average.

Long-term trend: [See DJP long-term trend chart]
A long-term uptrend had started on March 18, 2020 at 15.61 and reached 41.71 on June 8, 2022. DJP gained -26.10 points, or -167.20%, in 116 weeks. The chart has formed a Symmetric Triangle chart pattern. The trend support level is at 32.49 and resistance is at 29.98. A Symmetric Triangle pattern represents the area of indecision, where the movement direction is questioned. Chart pattern analysis usually considers a symmetric triangle chart pattern as a continuation formation which resolves in the direction of larger trend, but it also may mark the trend reversal. Use the following link to access a Symmetric Triangle chart pattern help, or use a Technical Stock Screener to see the list of stocks with Symmetric Triangle pattern in a long-term trend.

Medium-term trend: [See DJP medium-term trend chart]
A medium-term uptrend had started on February 14, 2024 at 29.40 and reached 31.02 on March 15, 2024. DJP gained -1.62 points, or -5.51%, in 4 weeks. Price is near the trend high.

Weekly Technical Indicators: [See DJP weekly technical indicators chart]
Weekly technical indicators are neutral.

During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. Use the following link to access a MACD help.

Short-term trend: [See DJP short-term trend chart]
A short-term uptrend had started on February 23, 2024 at 29.47 and reached 31.02 on March 15, 2024. DJP gained -1.55 points, or -5.26%, in 21 days. Price is near the trend high.

Daily Technical Indicators: [See DJP daily technical indicators chart]
Daily Relative Strength Index and Williams' Percentage Range are overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Williams' Percentage Range or strongly overbought daily Lane's Stochastic. 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 daily MACD line is above its signal line since February 21, 2024. This is an indication that the short-term trend is up.

During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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) 86.19
Overbought
Williams' Percentage Range (W%R) 11.00
Overbought
Lane's Stochastic (%D-Slow) 95.38
Strong Overbought
Greed/Fear Indicator (GFI) 90.20
Strong Overbought
Moving Average Converg./Diverg. (MACD) 0.12
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 59.79
Williams' Percentage Range (W%R) 56.20
Lane's Stochastic (%D-Slow) 48.60
Greed/Fear Indicator (GFI) 48.18
Moving Average Converg./Diverg. (MACD) -0.45
Trading Signals
Description Value Chart
Yearly Trendline Support 32.49
Upper Bollinger Band 31.27
Price 31.01
Daily Stochastic Crossing 30.99
Parabolic System 30.54
Weekly Stochastic Crossing 30.31
20 Day Moving Average 30.23
50 Day Moving Average 30.15
Yearly Trendline Resistance 29.98
Lower Bollinger Band 29.51
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 29.47
Low Date 02/23/2024
High 31.02
High Date 03/15/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 29.40
Low Date 02/14/2024
High 31.02
High Date 03/15/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 33.23
High Date 09/19/2023
Low 29.40
Low Date 02/14/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 41.71
High Date 06/08/2022
Low 29.15
Low Date 05/31/2023
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Valid
Resistance 29.98
Support 32.49
Low 15.61
Low Date 03/18/2020
High 41.71
High Date 06/08/2022
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.