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Dow Inc.DD

Dow Inc.

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DOW trade ideas

Will the Macro forming Downslope + MACD + ELLIOT MACROI used the limited tools I could with a free account to map out the potential macro down-slope pressure forming. This signals a potential breakout. Down below on the MACD w/ Elliot Waves we can see another potential crossing point with convergence momentum, again potentially creating momentum for a breakout. I'll use my other free, un-named platform to get better, instant updates- and post any updates if I get more evidence. Disclaimer- All Rights Reserved, 5/15/2020 JLP ENTERPRISES, this and all other future posts from this user is NOT professional advice, and should never be used for any financial divisions. The author, and anyone affiliated holds no responsibility for any action, or lack there of based on any personal opinions, which do not represent any holdings, positions, or even current personal opinions. The goal and intention of the author and his, and her affiliates is to simply provide a perspective that can add data to the ever increasing, and expanding presence, in the wheels of our economic system.
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by projectfleek
Is Dow Overbought After Bouncing to its 50-day SMA?Materials companies are some of the most economically sensitive names in the market. Events like social lockdowns, mass job losses and nosediving GDP have all kinds of knock-on effects for their business. The sector was already struggling before coronavirus, and fell even more sharply as the disease spread. Dow Inc. is one of the most actively traded names in the space, and is also the only Dow Jones Industrial Average member. It bounced hard last week as the S&P 500 had its biggest weekly gain since 1974. But that rally has brought DOW back to its 50-day moving average and the high-volume bearish gap from March 9. Stochastics are also suggesting an overbought condition. Even if the worst of coronavirus has passed, this is a significant bounce for DOW and an area where traders may look to take profits. Based on the technicals alone, a retest of $31, or even $27, may be in the cards for DOW.
NShort
by TradeStation