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Advanced TA SearchArchive
- 5/17/2024 -
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Dominion Resources (D) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a sixth consecutive positive week for the Dominion Resources (D). During the week, the D climbed 0.43 points, or 0.81%, and closed at 53.50 on Friday, May 17, 2024. Weekly volume was -26% below average.
D is a member of Utilities Sector. Utilities 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 D long-term trend chart]
A long-term downtrend had started on April 11, 2022 at 88.78 and reached 39.18 on October 23, 2023. D lost 49.60 points, or 55.87%, in 80 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 25.02 and resistance is at 74.11. 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 D medium-term trend chart]
A medium-term uptrend had started on February 13, 2024 at 43.53 and reached 53.65 on May 10, 2024. D gained -10.12 points, or -23.25%, in 12 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (48.27) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 D weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since November 10, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. Use the following link to access a MACD help.
 Short-term trend: [See D short-term trend chart]
A short-term uptrend had started on April 16, 2024 at 46.62 and reached 53.65 on May 10, 2024. D gained -7.03 points, or -15.08%, in 24 days. Price is near the trend high.
 Daily Technical Indicators: [See D daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Relative Strength Index and Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Use the following link to access Relative Strength Index help.
The daily MACD line is above its signal line since April 19, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
A Parabolic SAR (stop and reversal) indicator (53.04) comes close to the price (53.50). It indicates that the trend is getting weaker. 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.
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