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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- 5/17/2024 -
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iPath Dow Jones-AIG Commodity Idx TR ETN (DJP) Technical Analysis

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Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionRelative Strength Index and Lane's Stochastic are overboughtWilliams' Percentage Range is strongly overboughtBroken trend resistance line
Daily :Williams' Percentage Range is overboughtLane's Stochastic is strongly overboughtDaily  MACD line has moved above its signal lineThe price is above the upper Bollinger Band
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It was a second consecutive positive week for the iPath Dow Jones-AIG Commodity Idx TR ETN (DJP). During the week, the DJP gained 1.22 points, or 3.75%, and closed at 33.75 on Friday, May 17, 2024. Weekly volume was -62% below average.

Long-term trend: [See DJP long-term trend chart]
A long-term uptrend had started on March 18, 2020 at 15.61 and reached 41.71 on June 8, 2022. DJP gained -26.10 points, or -167.20%, in 116 weeks. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (33.23) 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 long-term trend.

Medium-term trend: [See DJP medium-term trend chart]
A medium-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 (29.49) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. DJP may retest the broken resistance line. It is considered to be a support 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 resistance line in a medium-term trend.

Weekly Technical Indicators: [See DJP weekly technical indicators chart]
Weekly 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 weekly Relative Strength Index and 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, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since March 8, 2024. The distance between MACD and the signal line is relatively high and getting bigger. Use the following link to access a MACD help.

Short-term trend: [See DJP short-term trend chart]
A short-term uptrend had started on May 2, 2024 at 31.63 and reached 33.75 on May 17, 2024. DJP gained -2.12 points, or -6.70%, in 15 days. Price is near the trend high.

Daily Technical Indicators: [See DJP daily technical indicators chart]
Daily Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range or strongly overbought daily Lane's Stochastic.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 65.16
Williams' Percentage Range (W%R) 11.30
Overbought
Lane's Stochastic (%D-Slow) 97.52
Strong Overbought
Greed/Fear Indicator (GFI) 83.79
Overbought
Moving Average Converg./Diverg. (MACD) 0.24
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 81.19
Overbought
Williams' Percentage Range (W%R) 5.50
Strong Overbought
Lane's Stochastic (%D-Slow) 83.03
Overbought
Greed/Fear Indicator (GFI) 82.14
Overbought
Moving Average Converg./Diverg. (MACD) 0.06
Trading Signals
Description Value Chart
Price 33.75
Daily Stochastic Crossing 33.69
Upper Bollinger Band 33.42
Yearly Trendline Support 33.23
Weekly Stochastic Crossing 33.20
20 Day Moving Average 32.50
Parabolic System 32.33
50 Day Moving Average 31.94
Lower Bollinger Band 31.67
Quarterly Trendline Support 29.49
Yearly Trendline Resistance 28.82
Quarterly Trendline Resistance 28.82
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 31.63
Low Date 05/02/2024
High 33.75
High Date 05/17/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 29.40
Low Date 02/14/2024
High 33.75
High Date 05/17/2024
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
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Descending Triangle
Status Broken Resistance
Resistance 28.82
Support 29.49
High 41.71
High Date 06/08/2022
Low 29.15
Low Date 05/31/2023
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 28.82
Support 33.23
Low 15.61
Low Date 03/18/2020
High 41.71
High Date 06/08/2022
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.