The Greedy Trader Weekly Analysis
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Dow Jones (^DJI)

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Summary:
Weekly :Weekly  MACD line has moved above its signal line
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtLane's Stochastic bearish divergenceTrend support at 32072.30
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It was a second consecutive positive week for the Dow Jones (^DJI). During the week, the ^DJI gained 917.95 points, or 3.75%, and closed at 25383.11 on Friday, May 29, 2020. ^DJI was trading at average weekly trading volume.

Long-term trend: [See ^DJI long-term trend chart]
A long-term uptrend had started on March 9, 2009 at 6440.08 and reached 29568.57 on February 12, 2020. ^DJI gained -23128.49 points, or -359.13%, in 570 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 22010.00 and resistance is at 30540.47. A Broadening Ascending 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 Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a long-term trend.

Medium-term trend: [See ^DJI medium-term trend chart]
A medium-term uptrend had started on August 24, 2015 at 15370.33 and reached 29568.57 on February 12, 2020. ^DJI gained -14198.24 points, or -92.37%, in 233 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 24467.69 and resistance is at 30124.03. 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 medium-term trend.

Weekly Technical Indicators: [See ^DJI 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 ^DJI short-term trend chart]
A short-term uptrend had started on March 23, 2020 at 18213.65 and reached 25758.79 on May 28, 2020. ^DJI gained -7545.14 points, or -41.43%, in 66 days. The chart has formed a Rising Wedge chart pattern. The price is near the trend support (32072.30) line. The support is usually stronger when technical indicators are oversold. 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 support line in a short-term trend.

Daily Technical Indicators: [See ^DJI daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. Daily Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic 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 daily MACD line is above its signal line since May 18, 2020. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 61.55
Williams' Percentage Range (W%R) 14.60
Overbought
Lane's Stochastic (%D-Slow) 88.43
Overbought Bearish
Greed/Fear Indicator (GFI) 78.45
Moving Average Converg./Diverg. (MACD) 310.58
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 41.17
Williams' Percentage Range (W%R) 37.40
Lane's Stochastic (%D-Slow) 78.95
Greed/Fear Indicator (GFI) 63.13
Moving Average Converg./Diverg. (MACD) -930.83
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 30124.03
Upper Bollinger Band 25701.81
Weekly Trendline Resistance 25654.15
Daily Stochastic Crossing 25584.83
Price 25383.11
Weekly Stochastic Crossing 24924.27
Quarterly Trendline Support 24467.69
20 Day Moving Average 24271.02
Parabolic System 23935.36
50 Day Moving Average 23255.69
Lower Bollinger Band 23130.37
Yearly Trendline Support 22010.00
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 22941.88
Low Date 04/21/2020
High 25758.79
High Date 05/28/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Test Support
Resistance 25654.15
Support 32072.30
Low 18213.65
Low Date 03/23/2020
High 25758.79
High Date 05/28/2020
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 29568.57
High Date 02/12/2020
Low 18213.65
Low Date 03/23/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 30124.03
Support 24467.69
Low 15370.33
Low Date 08/24/2015
High 29568.57
High Date 02/12/2020
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 30540.47
Support 22010.00
Low 6440.08
Low Date 03/09/2009
High 29568.57
High Date 02/12/2020
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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