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Downtrend Broken Resistance
Downtrend Broken Resistance stock alert presents a technical analysis stock market picking technique based on combination of technical indicators, stock trend analysis, trend following indicators and pattern recognition. Downtrend broken resistance stock market alert is a trend trading warning signal. It is a confirmation that long term downtrend reversal is completed and a new uptrend is establiched.

Unlike other alerts, broken resistance is not a buy/sell signal. It is rather warning signal that trend direction has changed. For entry point it is usually better to wait for pull back and retest of resistance line. This point is considered as a second chance to participate in downtrend reversal.
Technical analysis of stock trend chart following long term trend analysis and trend following indicator for broken resistance trend trading. Stock trend analysis and broken resistance trend following indicators.
trend trading,trend following,stock trend chart,technical analysis of stock trend,trend following indicator,following long term trend,Broken Resistance
Archive
- 2/9/2018
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iPath Dow Jones-AIG Commodity Idx TR ETN
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Summary:
Weekly :Lane's Stochastic is overboughtMACD bearish divergenceBroken trend resistance line
Daily :Williams' Percentage Range oversoldLane's Stochastic is strongly oversoldPrice has crossed below the 50 Day Moving AverageThe price touches the lower Bollinger Band
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It was the negative week for the iPath Dow Jones-AIG Commodity Idx TR ETN (DJP). During the week, the DJP dropped -1.00 points, or -4.04%, and closed at 23.76 on Friday, February 09, 2018. Weekly volume was 106% above average.

Long-term trend: [See DJP long-term trend chart]
A long-term downtrend had started on July 5, 2016 at 25.50 and reached 21.61 on June 22, 2017. DJP lost 3.89 points, or 15.25%, in 50 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (20.91) is broken. A broken support is considered to be a long-term bullish signal. 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 long-term trend.

Medium-term trend: [See DJP medium-term trend chart]
A medium-term uptrend had started on June 22, 2017 at 21.61 and reached 25.41 on January 25, 2018. DJP gained -3.80 points, or -17.58%, in 31 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 23.19 and resistance is at 25.68. 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 medium-term trend.

Weekly Technical Indicators: [See DJP weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic. Weekly MACD has bearish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with weekly 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 link to access Lane's Stochastic help.

The weekly MACD line is above its signal line since December 22, 2017. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.

Short-term trend: [See DJP short-term trend chart]
A short-term downtrend had started on January 25, 2018 at 25.41 and reached 23.58 on February 9, 2018. DJP lost 1.83 points, or 7.20%, in 15 days. The price is now at the 9.84% retracement level.

Daily Technical Indicators: [See DJP daily technical indicators chart]
Daily Williams' Percentage Range is oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Williams' Percentage Range or strongly oversold daily Lane's Stochastic. Use the following link to access Williams' Percentage Range help.

The daily MACD line is below its signal line since January 31, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.

The price touches the lower Bollinger Band. 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.

During the last week, the price has crossed below the 50 Day Moving Average. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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) 30.74
Williams' Percentage Range (W%R) 80.90
Oversold
Lane's Stochastic (%D-Slow) 5.36
Strong Oversold
Greed/Fear Indicator (GFI) 18.41
Oversold
Moving Average Converg./Diverg. (MACD) 0.14
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 47.34
Williams' Percentage Range (W%R) 59.40
Lane's Stochastic (%D-Slow) 83.49
Overbought
Greed/Fear Indicator (GFI) 57.26
Moving Average Converg./Diverg. (MACD) 0.28 Bearish
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 25.68
Upper Bollinger Band 25.37
Weekly Stochastic Crossing 24.98
20 Day Moving Average 24.75
Parabolic System 24.64
50 Day Moving Average 24.18
Price 23.76
Lower Bollinger Band 23.73
Daily Stochastic Crossing 23.68
Yearly Trendline Resistance 23.52
Quarterly Trendline Support 23.19
Yearly Trendline Support 20.91
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 25.41
High Date 01/25/2018
Low 23.58
Low Date 02/09/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 25.41
High Date 01/25/2018
Low 23.58
Low Date 02/09/2018
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 22.96
Low Date 12/12/2017
High 25.41
High Date 01/25/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 25.68
Support 23.19
Low 21.61
Low Date 06/22/2017
High 25.41
High Date 01/25/2018
Description Value
Direction Down
Chart Pattern Falling Channel
Status Broken Resistance
Resistance 23.52
Support 20.91
High 25.50
High Date 07/05/2016
Low 21.61
Low Date 06/22/2017
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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