The Greedy Trader Weekly Analysis
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- 3/27/2020 -
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Dow Jones (^DJI)

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Summary:
Weekly :Broken trend support lineLane's Stochastic is oversold
Daily :Bearish Harami CandlestickStochastic has raised above the signal lineDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARPrice is near the Fibonacci 23.6% retracement levelThe period of high volatility of the stock price
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It was a first positive week for the Dow Jones (^DJI). During the week, the ^DJI gained 2462.80 points, or 12.84%, and closed at 21636.78 on Friday, March 27, 2020. Weekly volume was 83% above average.

Long-term trend: [See ^DJI long-term trend chart]
A long-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 uptrend support line (23370.86) is broken. A broken support is considered to be a long-term bearish 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 support in a long-term trend.

Medium-term trend: [See ^DJI medium-term trend chart]
A medium-term downtrend had started on February 12, 2020 at 29568.57 and reached 18213.65 on March 23, 2020. ^DJI lost 11354.92 points, or 38.40%, in 5 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 16596.81 and resistance is at 24107.63. 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 medium-term trend.

Weekly Technical Indicators: [See ^DJI weekly technical indicators chart]
Weekly Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Lane's Stochastic. 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 below its signal line since February 21, 2020. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term downtrend is strong. 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 22595.06 on March 26, 2020. ^DJI gained -4381.41 points, or -24.06%, in 3 days. Price is near the Fibonacci 23.6% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See ^DJI daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

The distance between the Bollinger Bands is 584.62% higher then one year average. It indicates the period of high volatility of the stock price. 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.

Candlestick pattern: [See ^DJI candlestick chart pattern]
On Friday the chart has formed a Bearish Harami Candlestick pattern. A Bearish Harami pattern occurs in an uptrend. It shows the bulls’ upward drive has weakened and now a trend reversal is possible. The reliability of the Bearish Harami pattern is low. Use the Technical Stock Screener to see the list of stocks that had a Bearish Harami Candlestick pattern during the last week.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 44.15
Williams' Percentage Range (W%R) 58.50
Lane's Stochastic (%D-Slow) 58.63
Greed/Fear Indicator (GFI) 48.08
Moving Average Converg./Diverg. (MACD) -1852.36
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 29.64
Williams' Percentage Range (W%R) 67.50
Lane's Stochastic (%D-Slow) 16.17
Oversold
Greed/Fear Indicator (GFI) 29.60
Moving Average Converg./Diverg. (MACD) 28.98
Trading Signals
Description Value Chart
Upper Bollinger Band 27917.08
50 Day Moving Average 26278.80
Weekly Trendline Resistance 24107.63
Quarterly Trendline Support 23370.86
20 Day Moving Average 22688.93
Price 21636.78
Daily Stochastic Crossing 21359.93
Weekly Stochastic Crossing 20372.85
Parabolic System 18842.73
Lower Bollinger Band 17444.38
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 18213.65
Low Date 03/23/2020
High 22595.06
High Date 03/26/2020
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 24107.63
Support 16596.81
High 29568.57
High Date 02/12/2020
Low 18213.65
Low Date 03/23/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 21712.53
Low Date 12/26/2018
High 29568.57
High Date 02/12/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 29912.37
Support 23370.86
Low 15370.33
Low Date 08/24/2015
High 29568.57
High Date 02/12/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
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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