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- 9/15/2023 -
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Darden Restaurants (DRI) Technical Analysis
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|It was a first positive week after 7 consecutive negative weeks for the Darden Restaurants (DRI). During the week, the DRI climbed 0.62 points, or 0.41%, and closed at 150.06 on Friday, September 15, 2023. It was the best weekly gain since July 21, 2023. Weekly volume was -6% below average. |
Long-term trend: [See DRI long-term trend chart]
A long-term uptrend had started on June 16, 2022 at 110.96 and reached 173.06 on July 21, 2023. DRI gained -62.10 points, or -55.97%, in 57 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (162.94) 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 long-term trend.
Medium-term trend: [See DRI medium-term trend chart]
A medium-term downtrend had started on July 21, 2023 at 173.06 and reached 147.25 on September 12, 2023. DRI lost 25.81 points, or 14.91%, in 7 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 145.44 and resistance is at 151.68. A Falling Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a medium-term trend.
Weekly Technical Indicators: [See DRI weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold while Lane's Stochastic is strongly oversold. Use the Technical Stock Screener to see the list of stocks with oversold weekly Williams' Percentage Range or strongly oversold weekly Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish 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 and Williams' Percentage Range help.
The weekly MACD line is below its signal line since August 4, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term downtrend is strong. 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 September 12, 2023 at 147.25 and reached 151.94 on September 14, 2023. DRI gained -4.69 points, or -3.19%, in 2 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.
Daily Technical Indicators: [See DRI daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal.
During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.
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.