At 28,800, the Dow is down to its lowest value in 1 year
(Last update 3:51pm EST, September 30, 2022)
Dow Jones fell to a new low at 28,800 today, its lowest value in 1 year; yesterday ended at 29,226.
The Dow flirting with the 28,977 immediate support line. The MACD line is significantly below the MACD signal line, meaning this medium-term trend might turn positive. Bollinger bands shows an indication of recovery: the lower band is at 28,557, a low enough level to, generally, suggest that the Dow Jones is trading below its value. Despite this, the CCI indicator is below -100. When the CCI (Commodity Channel Index) is at this level it means the price is below the average price as measured by the indicator, indicating a possible start of a new downtrend.
Overall, looking at the technical analysis landscape – although indicators are mixed and some are pointing in different directions it seems the Dow Jones might reverse course and start pointing upward in the short term.
The Dow Jones has lost 17.19% over the last 5 months.