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Uptrend Broken SupportArchive
- 4/26/2024 -
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DuPont (DD) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the DuPont (DD). During the week, the DD gave back -0.18 points, or -0.24%, and closed at 73.71 on Friday, April 26, 2024. Weekly volume was -45% below average.
DD is a member of Materials Sector. Materials is the most overbought sector. Sector/industry rotation is considered a proven strategy to beat the market. Use the following links to find overbought/oversold technical indicators by Sector or by Industry.
 Long-term trend: [See DD long-term trend chart]
A long-term downtrend had started on July 27, 2023 at 78.74 and reached 61.14 on February 2, 2024. DD lost 17.60 points, or 22.35%, in 27 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 56.15 and resistance is at 77.01. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.
 Medium-term trend: [See DD medium-term trend chart]
A medium-term uptrend had started on February 2, 2024 at 61.14 and reached 77.94 on April 4, 2024. DD gained -16.80 points, or -27.48%, in 8 weeks. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See DD weekly technical indicators chart]
Weekly technical indicators are neutral. During the last week, weekly Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish 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 March 15, 2024. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See DD short-term trend chart]
A short-term downtrend had started on April 4, 2024 at 77.94 and reached 72.38 on April 16, 2024. DD lost 5.56 points, or 7.13%, in 12 days. Price is near the Fibonacci 23.6% retracement level.
Daily Technical Indicators: [See DD daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal.
The daily MACD line is below its signal line since April 4, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term downtrend is getting weak.
Price is close to the 50 Day Moving Average. 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.
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