- 5/26/2023 -
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Dow Jones (^DJI)
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|It was the negative week for the Dow Jones (^DJI). During the week, the ^DJI gave back -333.29 points, or -1.00%, and closed at 33093.34 on Friday, May 26, 2023. Weekly volume was -13% below average. |
Long-term trend: [See ^DJI long-term trend chart]
A long-term downtrend had started on January 5, 2022 at 36952.65 and reached 28660.94 on October 13, 2022. ^DJI lost 8291.71 points, or 22.44%, in 40 weeks. The price is now at the 53.46% retracement level.
Medium-term trend: [See ^DJI medium-term trend chart]
A medium-term downtrend had started on December 13, 2022 at 34712.28 and reached 31429.82 on March 15, 2023. ^DJI lost 3282.46 points, or 9.46%, in 13 weeks. The chart has formed a Falling Channel chart pattern. The downtrend resistance line (30484.43) 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 medium-term trend.
Weekly Technical Indicators: [See ^DJI weekly technical indicators chart]
Weekly technical indicators are neutral.
During the last week, weekly MACD line has moved below its signal line. Such crossover is considered a bearish signal. 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 15, 2023 at 31429.82 and reached 34257.83 on May 1, 2023. ^DJI gained -2828.01 points, or -9.00%, in 47 days. The chart has formed a Rising Wedge chart pattern.
Daily Technical Indicators: [See ^DJI daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. 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 Williams' Percentage Range help.
The daily MACD line is below its signal line since April 24, 2023. The distance between MACD and the signal line is low, but getting bigger.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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 falling, and it was 3.7% on Friday. It is 51.14% lower than one year average. It indicates the period of low 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.
During the last week, the price has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. 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.