The Greedy Trader Weekly Analysis
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Monthly Price vs. Fibonacci:Near 23.6% retracement level
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Stock market trading indicator and technical analysis stock screen presents technical stock market timing signals for technical investment analysis like screen stochastic or moving average trading system.. Screen includes following popular indicators and trading systems: Relative Strength Index (RSI), Williams' Percentage Range (W%R) and Lane's Stochastic (%D–Slow), moving average, macd convergence divergence, bullish and bearish divergence. For the best result different technical indicators should be analyzed in different time frames together with trend analysis, sector/industry ranking and stock timing alerts.

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- 6/7/2024 -
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iPath Dow Jones-AIG Commodity Idx TR ETN (DJP) Technical Analysis

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Summary:
Weekly :Stochastic signal line moved below overbought areaBroken trend resistance lineBroken trend support line
Daily :Williams' Percentage Range and Lane's Stochastic are oversoldPrice has crossed below the 50 Day Moving Average
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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 -0.47 points, or -1.44%, and closed at 32.23 on Friday, June 7, 2024. Weekly volume was -64% below average.

Long-term trend: [See DJP long-term trend chart]
A long-term downtrend had started on June 8, 2022 at 41.71 and reached 29.15 on May 31, 2023. DJP lost 12.56 points, or 30.11%, in 51 weeks. The chart has formed a Descending Triangle chart pattern. The downtrend resistance line (29.51) 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 February 14, 2024 at 29.40 and reached 34.28 on May 21, 2024. DJP gained -4.88 points, or -16.60%, in 13 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (32.93) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. DJP may retest the broken support line. It is considered to be a resistance line now. 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 medium-term trend.

Weekly Technical Indicators: [See DJP 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 8, 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 DJP short-term trend chart]
A short-term downtrend had started on May 21, 2024 at 34.28 and reached 32.06 on June 4, 2024. DJP lost 2.22 points, or 6.48%, in 14 days. The price is now at the 7.66% retracement level.

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

The daily MACD line is below its signal line since May 29, 2024. 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.

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) 35.71
Williams' Percentage Range (W%R) 80.60
Oversold
Lane's Stochastic (%D-Slow) 15.90
Oversold
Greed/Fear Indicator (GFI) 23.66
Moving Average Converg./Diverg. (MACD) 0.18
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 66.00
Williams' Percentage Range (W%R) 36.70
Lane's Stochastic (%D-Slow) 73.84
Greed/Fear Indicator (GFI) 64.02
Moving Average Converg./Diverg. (MACD) 0.27
Trading Signals
Description Value Chart
Monthly Trendline Resistance 34.83
Upper Bollinger Band 34.09
Weekly Stochastic Crossing 33.57
Parabolic System 33.22
20 Day Moving Average 33.12
Monthly Trendline Support 32.93
50 Day Moving Average 32.58
Daily Stochastic Crossing 32.38
Price 32.23
Lower Bollinger Band 31.61
Yearly Trendline Support 29.51
Yearly Trendline Resistance 28.45
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 32.95
High Date 06/06/2024
Low 32.23
Low Date 06/07/2024
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 34.28
High Date 05/21/2024
Low 32.06
Low Date 06/04/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 34.83
Support 32.93
Low 29.40
Low Date 02/14/2024
High 34.28
High Date 05/21/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 33.23
High Date 09/19/2023
Low 29.40
Low Date 02/14/2024
Description Value
Direction Down
Chart Pattern Descending Triangle
Status Broken Resistance
Resistance 28.45
Support 29.51
High 41.71
High Date 06/08/2022
Low 29.15
Low Date 05/31/2023
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.