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Industry Stocks Technical Analysis - DRIArchive
- 6/7/2024 -
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Darden Restaurants (DRI) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Darden Restaurants (DRI). During the week, the DRI dropped -1.85 points, or -1.23%, and closed at 148.54 on Friday, June 7, 2024. Weekly volume was -26% below average.
DRI is a member of Consumer Discretionary Sector. Consumer Discretionary is the second most oversold 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 DRI long-term trend chart]
A long-term uptrend had started on June 16, 2022 at 110.96 and reached 176.84 on March 4, 2024. DRI gained -65.88 points, or -59.37%, in 89 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 144.32 and resistance is at 178.47. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a long-term trend.
 Medium-term trend: [See DRI medium-term trend chart]
A medium-term uptrend had started on October 13, 2023 at 133.36 and reached 176.84 on March 4, 2024. DRI gained -43.48 points, or -32.60%, in 20 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend support line (188.68) 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 medium-term trend.
 Weekly Technical Indicators: [See DRI weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range and 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is below its signal line since March 28, 2024. Use the following link to access a MACD help.
 Short-term trend: [See DRI short-term trend chart]
A short-term uptrend had started on May 29, 2024 at 145.75 and reached 152.44 on June 3, 2024. DRI gained -6.69 points, or -4.59%, in 5 days. The price is now at the 58.30% retracement level.
 Daily Technical Indicators: [See DRI daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since May 10, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.
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.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The distance between the Bollinger Bands (4.93%) is close to one year low (4.49%). It indicates the period of low volatility of the stock price, and it is considered a buy signal for the option traders. 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.
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