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iPath Dow Jones-AIG Commodity Idx TR ETN
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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.