Sentences with phrase «weekly uptrend line»
Depending on how long such a pullback would take to play out, the rising 40 - week moving average (orange line) may also end up converging with support of the weekly uptrend line.
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As for the weekly chart pattern, QQQ is now trading just below its one - year uptrend line (similar to the one shown on the weekly chart of SPY).
For the sake of brevity, we will skip analysis of the Dow Jones SPDR ETF ($ DIA) because both its daily and weekly chart patterns are quite similar to SPY above (broke down firmly below its 50 - day moving average yesterday, and is also coming into support of its year - long uptrend line).
The weekly chart below shows the long - term uptrend in TMF, while the daily chart that follows shows the potential breakout above the intermediate - term downtrend line.