The Greedy Trader Weekly Analysis
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Archive
- 5/10/2019
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Nasdaq
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Summary:
Weekly :Williams' Percentage Range is overboughtLane's Stochastic is strongly overboughtStochastic has declined below the signal lineBroken trend resistance line
Daily :The price has fallen below the Parabolic SARPrice is near the Fibonacci 38.2% retracement levelThe price has declined below the moving average in the center of the Bollinger BandsPrice is close to the 50 Day Moving Average
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It was the negative week for the Nasdaq (^IXIC). During the week, the ^IXIC dropped -247.06 points, or -3.03%, and closed at 7916.94 on Friday, May 10, 2019. It was the worst weekly loss since December 21, 2018. Weekly volume was -8% 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 8176.08 on April 29, 2019. ^IXIC gained -6910.56 points, or -546.06%, in 529 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (6124.10) 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 February 11, 2016 at 4209.76 and reached 8176.08 on April 29, 2019. ^IXIC gained -3966.32 points, or -94.22%, in 167 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 6486.64 and resistance is at 9103.63. A Broadening Ascending Wedge pattern is considered to be a reversal formation. It usually appears in a mature trend, characterized by overbought/oversold long-term and short-term indicators, and often generates divergence on long-term indicators. Use the following link to access a Broadening Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Ascending Wedge pattern in a medium-term trend.

Weekly Technical Indicators: [See ^IXIC weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range or strongly overbought weekly Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since February 1, 2019. This is an indication that the medium-term trend is up. 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 April 29, 2019 at 8176.08 and reached 7759.34 on May 10, 2019. ^IXIC lost 416.74 points, or 5.10%, in 11 days. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

Daily Technical Indicators: [See ^IXIC daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is below its signal line since April 29, 2019. This is an indication that the short-term trend is down.

During the last week, the price has fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. A Parabolic SAR is used as a trailing stop loss for long or short positions. It works best during strong trending periods. Use the following links to access Parabolic SAR Help, or use the Technical Stock Screener to see the list of stocks with the Parabolic SAR close to the price level.

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Price is close to the 50 Day Moving Average. 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) 42.94
Williams' Percentage Range (W%R) 70.70
Lane's Stochastic (%D-Slow) 36.37
Greed/Fear Indicator (GFI) 36.19
Moving Average Converg./Diverg. (MACD) 71.60
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 70.24
Williams' Percentage Range (W%R) 14.80
Overbought
Lane's Stochastic (%D-Slow) 91.47
Strong Overbought
Greed/Fear Indicator (GFI) 78.91
Moving Average Converg./Diverg. (MACD) 104.72
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 9103.63
Monthly Trendline Support 8333.60
Monthly Trendline Resistance 8303.72
Upper Bollinger Band 8154.02
Weekly Stochastic Crossing 8115.68
20 Day Moving Average 8041.16
Parabolic System 8017.19
Price 7916.94
Daily Stochastic Crossing 7869.15
50 Day Moving Average 7844.37
Lower Bollinger Band 7833.60
Yearly Trendline Resistance 6638.85
Quarterly Trendline Support 6486.64
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 8164.71
High Date 05/03/2019
Low 7759.34
Low Date 05/10/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 8176.08
High Date 04/29/2019
Low 7759.34
Low Date 05/10/2019
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 8303.72
Support 8333.60
Low 6190.17
Low Date 12/24/2018
High 8176.08
High Date 04/29/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 9103.63
Support 6486.64
Low 4209.76
Low Date 02/11/2016
High 8176.08
High Date 04/29/2019
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 6638.85
Support 6124.10
Low 1265.52
Low Date 03/09/2009
High 8176.08
High Date 04/29/2019
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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