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Archive
- 5/17/2024 -
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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 gave back -1.46 points, or -0.79%, and closed at 184.09 on Friday, May 17, 2024. DOV was trading at average weekly trading volume.
 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 (133.90) 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. DOV 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 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 186.50 on May 13, 2024. DOV gained -59.25 points, or -46.56%, in 27 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 174.34 and resistance is at 191.87. A Rising 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 Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.
 Weekly Technical Indicators: [See DOV weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Williams' Percentage Range. Weekly Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with weekly Relative Strength Index, Lane's Stochastic and MACD bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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, Relative Strength Index and Williams' Percentage Range 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. Use the following link to access a MACD help.
 Short-term trend: [See DOV short-term trend chart]
A short-term uptrend had started on April 17, 2024 at 168.20 and reached 186.50 on May 13, 2024. DOV gained -18.30 points, or -10.88%, in 26 days. The chart has formed a Rising Wedge chart pattern. The uptrend support line (184.99) 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 short-term trend.
Daily Technical Indicators: [See DOV daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal.
The daily MACD line is above its signal line since April 24, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.
During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward 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.
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