The Dow Jones Index is a combination of 30 stocks that reflects the US economy and the stock market as a whole. Looking at the history of the Dow Jones when it was first launched in May 1896, which is over a century ago, the IPO price was at $29. In over one century it has been listed on the stock exchange, the $DJIA has appreciated to a ground-breaking $36,991, making it the all-time high. Since its IPO in the year 1896, $DJIA has appreciated over 1270% to reach the all-time high. The threshold was reached in January 2022.
The Stock Index has not been good for investments this year as it has been majorly bearish. In the first half of the year, in June to be precise, the price of $DJIA went as low as 29,698. The bulls made price rally above $34,000 in August 2022. The rally was countered with the bears’ activities, making the price fall to a new low in 2022 at $28,969. Since the all-time high, price has been overbought on the RSI using the monthly chart. The monthly candlesticks have since April 2022 been closing in the lower region of the Bollinger Bands. In the coming weeks, we might see price rally above $30,000 again.
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