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Advanced TA SearchArchive
- 5/3/2024 -
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DTE Energy Co. (DTE) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a third consecutive positive week for the DTE Energy Co. (DTE). During the week, the DTE gained 3.23 points, or 2.95%, and closed at 112.75 on Friday, May 3, 2024. It was the best weekly gain since March 28, 2024. Weekly volume was -21% below average.
DTE 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 DTE long-term trend chart]
A long-term downtrend had started on May 10, 2021 at 145.43 and reached 90.14 on October 6, 2023. DTE lost 55.29 points, or 38.02%, in 125 weeks. The chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 84.54 and resistance is at 129.16. 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 DTE medium-term trend chart]
A medium-term uptrend had started on October 6, 2023 at 90.14 and reached 114.62 on December 14, 2023. DTE gained -24.48 points, or -27.16%, in 9 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend support line (113.55) 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 medium-term trend.
 Weekly Technical Indicators: [See DTE weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with 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 link to access Williams' Percentage Range help.
The weekly MACD line is above its signal line since November 17, 2023. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. Use the following link to access a MACD help.
 Short-term trend: [See DTE short-term trend chart]
A short-term downtrend had started on March 11, 2024 at 114.05 and reached 103.06 on April 16, 2024. DTE lost 10.99 points, or 9.64%, in 36 days. The chart has formed a Broadening Descending Wedge chart pattern. The downtrend resistance line (99.34) 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. DTE 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 short-term trend.
 Daily Technical Indicators: [See DTE daily technical indicators chart]
Daily 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 daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Use the following link to access Lane's Stochastic help.
The daily MACD line is above its signal line since April 19, 2024.
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