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Archive
- 6/7/2024 -
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Dover Corp. (DOV) Technical Analysis
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| Summary:
| | Weekly :   | | Daily :
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| | It was the negative week for the Dover Corp. (DOV). During the week, the DOV dropped -6.60 points, or -3.59%, and closed at 177.22 on Friday, June 7, 2024. Weekly volume was 36% above average.
 Long-term trend: [See DOV long-term trend chart]
A long-term downtrend had started on January 7, 2022 at 184.00 and reached 114.49 on October 13, 2022. DOV lost 69.51 points, or 37.78%, in 39 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (134.58) 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 long-term trend.
 Medium-term trend: [See DOV medium-term trend chart]
A medium-term uptrend had started on October 31, 2023 at 127.25 and reached 188.64 on May 28, 2024. DOV gained -61.39 points, or -48.24%, in 30 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend support (178.60) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.
 Weekly Technical Indicators: [See DOV weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 link to access Lane's Stochastic help.
The weekly MACD line is above its signal line since December 1, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. Use the following link to access a MACD help.
 Short-term trend: [See DOV short-term trend chart]
A short-term downtrend had started on May 28, 2024 at 188.64 and reached 176.69 on June 7, 2024. DOV lost 11.95 points, or 6.33%, in 10 days. Price is near the trend low.
 Daily Technical Indicators: [See DOV daily technical indicators chart]
Daily Lane's Stochastic is oversold while Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold daily Lane's Stochastic or strongly oversold daily Williams' Percentage Range. Use the following link to access Williams' Percentage Range help.
The daily MACD line is below its signal line since May 22, 2024. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.
During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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. While the medium-term trend is up and daily technical indicators are oversold, the 50 Day Moving Average is considered a support level. 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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