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Advanced TA SearchArchive
- 5/3/2024 -
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Dow Jones (^DJI) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a third consecutive positive week for the Dow Jones (^DJI). During the week, the ^DJI gained 436.02 points, or 1.14%, and closed at 38675.68 on Friday, May 3, 2024. It was the best weekly gain since March 22, 2024. Weekly volume was 23% above average.
 Long-term trend: [See ^DJI long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 28660.94 and reached 39889.05 on March 21, 2024. ^DJI gained -11228.11 points, or -39.18%, in 75 weeks. The price is now at the 10.81% retracement level.
 Medium-term trend: [See ^DJI medium-term trend chart]
A medium-term downtrend had started on March 21, 2024 at 39889.05 and reached 37611.56 on April 17, 2024. ^DJI lost 2277.49 points, or 5.71%, in 3 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (37897.20) 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 medium-term trend.
 Weekly Technical Indicators: [See ^DJI weekly technical indicators chart]
Weekly technical indicators are neutral.
The weekly MACD line is below its signal line since April 5, 2024. This is an indication that the medium-term trend is down. Use the following link to access a MACD help.
Short-term trend: [See ^DJI short-term trend chart]
A short-term uptrend had started on April 17, 2024 at 37611.56 and reached 38808.52 on May 3, 2024. ^DJI gained -1196.96 points, or -3.18%, in 16 days. The chart has formed a Symmetric Triangle chart pattern.
Daily Technical Indicators: [See ^DJI daily technical indicators chart]
Daily technical indicators are neutral.
The daily MACD line is above its signal line since May 1, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.
During the last week, the price has moved above 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.
Price is close to the 50 Day Moving Average. 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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