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Archive
- 9/6/2019 -
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Nasdaq (^IXIC)

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Summary:
Weekly :Broken trend resistance line
Daily :Williams' Percentage Range is strongly overboughtPrice has crossed above the 50 Day Moving AverageBroken trend resistance line
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It was a second positive week after 4 consecutive negative weeks for the Nasdaq (^IXIC). During the week, the ^IXIC gained 140.19 points, or 1.76%, and closed at 8103.07 on Friday, September 6, 2019. Weekly volume was -21% below average.

Long-term trend: [See ^IXIC long-term trend chart]
A long-term uptrend had started on March 9, 2009 at 1265.52 and reached 8339.64 on July 26, 2019. ^IXIC gained -7074.12 points, or -558.99%, in 541 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (6277.27) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a long-term trend.

Medium-term trend: [See ^IXIC medium-term trend chart]
A medium-term uptrend had started on December 24, 2018 at 6190.17 and reached 8339.64 on July 26, 2019. ^IXIC gained -2149.47 points, or -34.72%, in 30 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 7969.63 and resistance is at 8416.14. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See ^IXIC weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since August 9, 2019. The distance between MACD and the signal line is low and getting smaller. Use the following link to access a MACD help.

Short-term trend: [See ^IXIC short-term trend chart]
A short-term downtrend had started on July 26, 2019 at 8339.64 and reached 7662.90 on August 5, 2019. ^IXIC lost 676.74 points, or 8.11%, in 10 days. The chart has formed a Falling Pennant chart pattern. The downtrend resistance line (7817.14) is broken. Usually a broken resistance is considered to be a long-term bullish signal, but since daily indicators are overbought a short-term pull back is possible. ^IXIC may retest the broken resistance line. It is considered to be a support line now. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend resistance line in a short-term trend.

Daily Technical Indicators: [See ^IXIC daily technical indicators chart]
Daily Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range. Oscillators are designed to signal a possible trend reversal. They can act as alerts and should be taken in conjunction with other technical analysis tools. Oscillators can be used to confirm other technical signals. Use the following link to access Williams' Percentage Range help.

The daily MACD line is above its signal line since August 28, 2019.

During the last week, the price has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 59.15
Williams' Percentage Range (W%R) 2.10
Strong Overbought
Lane's Stochastic (%D-Slow) 76.54
Greed/Fear Indicator (GFI) 77.86
Moving Average Converg./Diverg. (MACD) -28.48
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 65.83
Williams' Percentage Range (W%R) 20.40
Lane's Stochastic (%D-Slow) 41.71
Greed/Fear Indicator (GFI) 58.30
Moving Average Converg./Diverg. (MACD) 133.45
Trading Signals
Description Value Chart
Monthly Trendline Resistance 8416.14
Upper Bollinger Band 8173.23
Price 8103.07
Daily Stochastic Crossing 8051.38
50 Day Moving Average 8051.36
Monthly Trendline Support 7969.63
Parabolic System 7935.95
Weekly Stochastic Crossing 7927.16
20 Day Moving Average 7926.75
Weekly Trendline Support 7817.14
Lower Bollinger Band 7764.35
Weekly Trendline Resistance 7676.51
Yearly Trendline Resistance 6792.01
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Descending Triangle
Low 7662.90
Low Date 08/05/2019
High 8134.42
High Date 09/05/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Pennant
Status Broken Resistance
Resistance 7676.51
Support 7817.14
High 8339.64
High Date 07/26/2019
Low 7662.90
Low Date 08/05/2019
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 8416.14
Support 7969.63
Low 6190.17
Low Date 12/24/2018
High 8339.64
High Date 07/26/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 4209.76
Low Date 02/11/2016
High 8339.64
High Date 07/26/2019
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 6792.01
Support 6277.27
Low 1265.52
Low Date 03/09/2009
High 8339.64
High Date 07/26/2019
Warning: TheGreedyTrader.com presents weekly analysis. Technical indicators and trend parameters are calculated for the close of business day indicated on the top right corner of the screen.

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