Dow Jones Index Forecast

Dow Jones index upgraded from Sell Candidate to Hold/Accumulate after Friday trading session.
(Updated on Apr 26, 2024)

^DJI Signals & Forecast

There are mixed signals in the index today. The Dow Jones index holds a buy signal from the short-term Moving Average; at the same time, however, the long-term average holds a general sell signal. Since the longterm average is above the short-term average there is a general sell signal in the index giving a more negative forecast for the stock. On further gains, the index will meet resistance from the long-term Moving Average at 38,760.58 points. On a fall, the index will find some support from the short-term average at 38,184.55 points. A break-up through the long-term average will give another buy signal, while a fall below the short-term average will add another sell signal and strengthen the general signal. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). A buy signal was issued from a pivot bottom point on Monday, April 15, 2024, and so far it has risen 1.34%. Further rise is indicated until a new top pivot has been found. Volume fell during the last trading day despite gaining prices. This causes a divergence between volume and price and it may be an early warning. The index should be watched closely.

Support, Risk & Stop-loss for Dow Jones index

Dow Jones finds support from accumulated volume at 38,150.30 points and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

In general the index tends to have very controlled movements and with good liquidity the risk is considered very low in this stock. During the last day, the index moved 272.59 points between high and low, or 0.716%. For the last week the index has had daily average volatility of 0.86%.

Our recommended stop-loss: 36,149.54 points (-5.47%) (This index has low daily movements and this gives low risk. There is a buy signal from a pivot bottom found 9 days ago.)

Trading Expectations (^DJI) For The Upcoming Trading Day Of Monday 29th

For the upcoming trading day on Monday, 29th we expect Dow Jones Industrial Average to open at 38,214.12 points, and during the day (based on 14 day Average True Range), to move between 37,838.53 points and 38,640.79 points, which gives a possible trading interval of +/-401.13 points (+/-1.05%) up or down from last closing price. If Dow Jones Industrial Average takes out the full calculated possible swing range there will be an estimated 2.10% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at 38,150.30 points (0.23%) than the resistance at 38,714.77 points (1.24%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Dow Jones Industrial Average index A Buy?

Dow Jones holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. We have upgraded our analysis conclusion for this index since the last evaluation from a Sell to a Hold/Accumulate candidate.

Current score: -0.259 Hold/Accumulate Upgraded

Predicted Opening Price for Dow Jones Industrial Average of Monday, April 29, 2024

The predicted opening price is based on yesterday's movements between high, low, and closing price.