DBO Stock Invesco DB Oil (DBO, $14.41) Moving Average Convergence Divergence (MACD) Histogram turned negative on October 16, 2024
DBO sees MACD Histogram just turned negative
DBO saw its Moving Average Convergence Divergence Histogram (MACD) turn negative on October 16, 2024. This is a bearish signal that suggests the stock could decline going forward. Tickeron's A.I.dvisor looked at 55 instances where the indicator turned negative. In of the 55 cases the stock moved lower in the days that followed. This puts the odds of a downward move at .
Technical Analysis (Indicators)
Bearish Trend Analysis
The 10-day RSI Indicator for DBO moved out of overbought territory on October 08, 2024. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 41 similar instances where the indicator moved out of overbought territory. In of the 41 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Momentum Indicator moved below the 0 level on October 16, 2024. You may want to consider selling the stock, shorting the stock, or exploring put options on DBO as a result. In of 77 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
DBO moved below its 50-day moving average on October 15, 2024 date and that indicates a change from an upward trend to a downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where DBO declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
DBO broke above its upper Bollinger Band on October 03, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Bullish Trend Analysis
The Stochastic Oscillator demonstrated that the ticker has stayed in the oversold zone for 1 day, which means it's wise to expect a price bounce in the near future.
The 10-day moving average for DBO crossed bullishly above the 50-day moving average on October 09, 2024. This indicates that the trend has shifted higher and could be considered a buy signal. In of 14 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where DBO advanced for three days, in of 354 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 377 cases where DBO Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
General Information
Category CommoditiesBroadBasket