The Greedy Trader Weekly Analysis
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Archive
- 1/11/2019
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Nasdaq
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Summary:
Weekly :Broken trend support lineBroken trend resistance line
Daily :Lane's Stochastic is strongly overboughtPrice is close to the 50 Day Moving AverageThe price moved above the moving average in the center of the Bollinger Bands
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It was a third positive week after 3 consecutive negative weeks for the Nasdaq (^IXIC). During the week, the ^IXIC gained 232.62 points, or 3.45%, and closed at 6971.48 on Friday, January 11, 2019. ^IXIC was trading at average weekly trading volume.

Long-term trend: [See ^IXIC long-term trend chart]
A long-term uptrend had started on March 9, 2009 at 1265.52 and reached 8133.30 on August 30, 2018. ^IXIC gained -6867.78 points, or -542.68%, in 494 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (5935.53) 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 8133.30 on August 30, 2018. ^IXIC gained -3923.54 points, or -93.20%, in 133 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (8017.20) is broken. A broken support is considered to be a long-term bearish signal. 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 support 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 September 28, 2018. The distance between MACD and the signal line is relatively high, but getting smaller. Use the following link to access a MACD help.

Short-term trend: [See ^IXIC short-term trend chart]
A short-term uptrend had started on December 24, 2018 at 6190.17 and reached 6991.37 on January 10, 2019. ^IXIC gained -801.20 points, or -12.94%, in 17 days. Price is near the trend high.

Daily Technical Indicators: [See ^IXIC daily technical indicators chart]
Daily Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Lane's Stochastic. 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 Lane's Stochastic help.

The daily MACD line is above its signal line since December 31, 2018. This is an indication that the short-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current short-term uptrend is strong.

During the last week, the price has moved above 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. While daily technical indicators are overbought, the 50 Day Moving Average is considered a resistance level. 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) 64.31
Williams' Percentage Range (W%R) 21.50
Lane's Stochastic (%D-Slow) 96.86
Strong Overbought
Greed/Fear Indicator (GFI) 79.90
Moving Average Converg./Diverg. (MACD) -99.10
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 37.83
Williams' Percentage Range (W%R) 61.00
Lane's Stochastic (%D-Slow) 25.82
Greed/Fear Indicator (GFI) 37.07
Moving Average Converg./Diverg. (MACD) -104.81
Trading Signals
Description Value Chart
Monthly Trendline Resistance 8020.98
Quarterly Trendline Support 8017.20
Upper Bollinger Band 7261.10
50 Day Moving Average 7008.00
Daily Stochastic Crossing 6976.86
Price 6971.48
20 Day Moving Average 6703.34
Parabolic System 6649.57
Yearly Trendline Resistance 6551.11
Weekly Stochastic Crossing 6539.13
Lower Bollinger Band 6364.87
Yearly Trendline Support 5935.53
Monthly Trendline Support 5917.13
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 6457.13
Low Date 01/03/2019
High 6991.37
High Date 01/10/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 6190.17
Low Date 12/24/2018
High 6991.37
High Date 01/10/2019
Description Value
Direction Down
Chart Pattern Broadening Right-Angled, Descending Wedge
Status Valid
Resistance 8020.98
Support 5917.13
High 8133.30
High Date 08/30/2018
Low 6190.17
Low Date 12/24/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 8422.75
Support 8017.20
Low 4209.76
Low Date 02/11/2016
High 8133.30
High Date 08/30/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 6551.11
Support 5935.53
Low 1265.52
Low Date 03/09/2009
High 8133.30
High Date 08/30/2018
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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