The Greedy Trader Weekly Analysis
Sign In Aug 7, 2020
Skip Navigation Links
Symbol:  

• Symbol Lookup
• Add to Watch List
• Candlestick Patterns - N/A
• Stock Technical Indicators
• Stock Trends Analysis
• Market Sector Rank
• Stock Trading Signals

Archive
- 7/31/2020 -
Sign In to see current Signals.

Nasdaq (^IXIC)

Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionBroken uptrend resistance line - uptrend exhaustionLane's Stochastic is overboughtWilliams' Percentage Range is strongly overbought
Daily :Broken trend support lineWilliams' Percentage Range is overboughtThe price is above the upper Bollinger Band20 Day Moving Average has crossed above the 50 Day Moving AverageThe period of low volatility of the stock price
Move cursor over the icon to see details.

It was a first positive week for the Nasdaq (^IXIC). During the week, the ^IXIC gained 382.09 points, or 3.69%, and closed at 10745.27 on Friday, July 31, 2020. Weekly volume was -11% 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 10839.93 on July 21, 2020. ^IXIC gained -9574.41 points, or -756.56%, in 593 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (6618.69) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 10839.93 on July 21, 2020. ^IXIC gained -6630.17 points, or -157.50%, in 231 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (6978.98) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 medium-term trend.

Weekly Technical Indicators: [See ^IXIC weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since May 8, 2020. 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 uptrend had started on March 23, 2020 at 6631.42 and reached 10839.93 on July 21, 2020. ^IXIC gained -4208.51 points, or -63.46%, in 120 days. The chart has formed a Rising Wedge chart pattern. The uptrend support line (10804.86) 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 short-term trend.

Daily Technical Indicators: [See ^IXIC daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range.

The daily MACD line is below its signal line since July 22, 2020. The distance between MACD and the signal line is low and getting smaller.

The price has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. The distance between the Bollinger Bands is falling, and it was 4.46% on Friday. It is 58.04% lower than one year average. It indicates the period of low volatility of the stock price. 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.

During the last week, the 20 Day Moving Average 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) 60.84
Williams' Percentage Range (W%R) 15.00
Overbought
Lane's Stochastic (%D-Slow) 55.50
Greed/Fear Indicator (GFI) 67.12
Moving Average Converg./Diverg. (MACD) 180.69
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 78.37
Williams' Percentage Range (W%R) 2.30
Strong Overbought
Lane's Stochastic (%D-Slow) 87.36
Overbought
Greed/Fear Indicator (GFI) 82.85
Overbought
Moving Average Converg./Diverg. (MACD) 369.19
Trading Signals
Description Value Chart
Weekly Trendline Resistance 11040.06
Weekly Trendline Support 10804.86
Price 10745.27
Upper Bollinger Band 10689.20
Weekly Stochastic Crossing 10660.74
20 Day Moving Average 10531.74
Daily Stochastic Crossing 10517.41
Parabolic System 10378.75
Quarterly Trendline Resistance 10366.57
Lower Bollinger Band 10209.84
50 Day Moving Average 10073.95
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 10839.93
High Date 07/21/2020
Low 10217.31
Low Date 07/24/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 11040.06
Support 10804.86
Low 6631.42
Low Date 03/23/2020
High 10839.93
High Date 07/21/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 6190.17
Low Date 12/24/2018
High 10839.93
High Date 07/21/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 10366.57
Support 6978.98
Low 4209.76
Low Date 02/11/2016
High 10839.93
High Date 07/21/2020
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 7468.35
Support 6618.69
Low 1265.52
Low Date 03/09/2009
High 10839.93
High Date 07/21/2020
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.

Copyright© 2004-2018 All rights reserved.