The Dow will open at 34,200 after four straight days of gains
(Last update 1:11pm EST, April 18, 2021)
Dow Friday at a glance – Dow Jones rallied 164 points and maintained at the 34,200 level.
The Chart visual study suggests Dow Jones immediate resistance is around 34,300, nearest support level is at 33,000. In terms of trend indicators, we can see that the MACD line is above the MACD signal line significantly, meaning the medium-term trend might turn negative. The CCI indicator is above 100. When the CCI (Commodity Channel Index) is at this level, it means the price is above the average price as measured by the indicator, indicating a possible start of a new uptrend. Momentum evaluation shows The Relative Strength Index indicates the Dow is in overbought condition. Asset volatility analysis shows that a slight indication of a slowdown comes from looking at the Bollinger bands: the upper band is at 34,400 – a high enough level to usually suggest the Dow is trading above its value.
Overall, the technical analysis suggests the Dow is neutral for the immediate future, with no clear-cut direction.
The Dow Jones started 2021 by gaining 10.56%.
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— Forbes (@Forbes) April 18, 2021