The Greedy Trader Weekly Analysis
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Dow Jones (^DJI)

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Summary:
Weekly :Williams' Percentage Range is overboughtLane's Stochastic and MACD bearish divergence
Daily :Williams' Percentage Range is overboughtStochastic has declined below the signal line
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It was the negative week for the Dow Jones (^DJI). During the week, the ^DJI gave back -216.33 points, or -0.73%, and closed at 29263.48 on Friday, November 20, 2020. Weekly volume was -10% below average.

Long-term trend: [See ^DJI long-term trend chart]
A long-term uptrend had started on March 23, 2020 at 18213.65 and reached 29964.29 on November 16, 2020. ^DJI gained -11750.64 points, or -64.52%, in 34 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 26773.65 and resistance is at 29694.62. 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 long-term trend.

Medium-term trend: [See ^DJI medium-term trend chart]
A medium-term uptrend had started on October 30, 2020 at 26143.77 and reached 29964.29 on November 16, 2020. ^DJI gained -3820.52 points, or -14.61%, in 2 weeks. The price is now at the 18.34% retracement level.

Weekly Technical Indicators: [See ^DJI weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. Weekly Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 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, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. 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 November 16, 2020 at 29964.29 and reached 29228.38 on November 19, 2020. ^DJI lost 735.91 points, or 2.46%, in 3 days. Price is near the trend low.

Daily Technical Indicators: [See ^DJI daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal.

The daily MACD line is above its signal line since November 4, 2020.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 75.32
Williams' Percentage Range (W%R) 13.80
Overbought
Lane's Stochastic (%D-Slow) 69.78
Greed/Fear Indicator (GFI) 77.11
Moving Average Converg./Diverg. (MACD) 359.49
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 57.46
Williams' Percentage Range (W%R) 11.90
Overbought
Lane's Stochastic (%D-Slow) 62.98
Bearish
Greed/Fear Indicator (GFI) 67.78
Moving Average Converg./Diverg. (MACD) 584.23 Bearish
Trading Signals
Description Value Chart
Upper Bollinger Band 31108.06
Quarterly Trendline Resistance 29694.62
Daily Stochastic Crossing 29564.60
Price 29263.48
Parabolic System 28869.29
Weekly Stochastic Crossing 28525.32
20 Day Moving Average 28412.55
50 Day Moving Average 28142.43
Quarterly Trendline Support 26773.65
Lower Bollinger Band 26508.70
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 29964.29
High Date 11/16/2020
Low 29228.38
Low Date 11/19/2020
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 29964.29
High Date 11/16/2020
Low 29228.38
Low Date 11/19/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 26143.77
Low Date 10/30/2020
High 29964.29
High Date 11/16/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 29694.62
Support 26773.65
Low 18213.65
Low Date 03/23/2020
High 29964.29
High Date 11/16/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 6440.08
Low Date 03/09/2009
High 29964.29
High Date 11/16/2020
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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