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S&P 500 Oversold StocksArchive
- 4/26/2024 -
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Dollar General (DG) Technical Analysis
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| Summary:
| | Weekly : | | Daily : 
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| | It was the negative week for the Dollar General (DG). During the week, the DG dropped -2.75 points, or -1.90%, and closed at 142.07 on Friday, April 26, 2024. Weekly volume was -50% below average.
 Long-term trend: [See DG long-term trend chart]
A long-term downtrend had started on April 21, 2022 at 262.21 and reached 101.09 on October 12, 2023. DG lost 161.12 points, or 61.45%, in 77 weeks. The chart has formed a Broadening Right-Angled, Descending Wedge chart pattern. The trend support level is at 69.40 and resistance is at 259.83. 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 Right-Angled, Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Descending Wedge pattern in a long-term trend.
 Medium-term trend: [See DG medium-term trend chart]
A medium-term uptrend had started on October 12, 2023 at 101.09 and reached 168.07 on March 14, 2024. DG gained -66.98 points, or -66.26%, in 22 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
 Weekly Technical Indicators: [See DG weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is above its signal line since November 3, 2023. This is an indication that the medium-term trend is up. Use the following link to access a MACD help.
 Short-term trend: [See DG short-term trend chart]
A short-term downtrend had started on April 19, 2024 at 146.76 and reached 140.63 on April 24, 2024. DG lost 6.13 points, or 4.18%, in 5 days. Price is near the Fibonacci 23.6% retracement level.
 Daily Technical Indicators: [See DG daily technical indicators chart]
Daily Relative Strength Index and Lane's Stochastic are oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Relative Strength Index and Lane's Stochastic or strongly oversold daily Williams' Percentage Range. Daily MACD has bullish divergence. Use the following links to access the MACD help, or use the Technical Stock Screener to see the list of stocks with daily MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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 links to access Lane's Stochastic, Relative Strength Index and Williams' Percentage Range help.
The daily MACD line is below its signal line since March 14, 2024. This is an indication that the short-term trend is down.
During the last week, the 20 Day Moving Average 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.
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