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- 3/20/2020 -
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Nasdaq (^IXIC)

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Summary:
Weekly :Williams' Percentage Range is oversold
Daily :Lane's Stochastic is oversoldLane's Stochastic and MACD bullish divergenceThe price has risen above the Parabolic SARThe Bollinger Bands are historically far apart
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It was the negative week for the Nasdaq (^IXIC). During the week, the ^IXIC dropped -995.36 points, or -12.64%, and closed at 6879.52 on Friday, March 20, 2020. ^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 9838.37 on February 19, 2020. ^IXIC gained -8572.85 points, or -677.42%, in 571 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 6443.80 and resistance is at 7293.46. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a long-term trend.

Medium-term trend: [See ^IXIC medium-term trend chart]
A medium-term downtrend had started on February 19, 2020 at 9838.37 and reached 6686.36 on March 18, 2020. ^IXIC lost 3152.01 points, or 32.04%, in 4 weeks. The chart has formed a Falling Channel chart pattern. The trend support level is at 6422.26 and resistance is at 7264.56. Use the following link to access a Falling Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Falling Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See ^IXIC weekly technical indicators chart]
Weekly Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold 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 weekly MACD line is below its signal line since February 28, 2020. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current medium-term downtrend is strong. 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 March 13, 2020 at 7875.93 and reached 6686.36 on March 18, 2020. ^IXIC lost 1189.57 points, or 15.10%, in 5 days. The price is now at the 16.24% retracement level.

Daily Technical Indicators: [See ^IXIC daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Lane's Stochastic. Daily Lane's Stochastic and MACD have bullish divergence. Use the following links to access the Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Lane's Stochastic and MACD bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Lane's Stochastic help.

The daily MACD line is below its signal line since February 20, 2020. This is an indication that the short-term trend is down. The distance between MACD and the signal line is relatively high, but getting smaller. It indicates that the current short-term downtrend is still strong, and momentum is beginning to wane.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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.

The distance between the Bollinger Bands (45.64%) is close to one year high (35.59%). It is 532.85% higher then one year average. It indicates the period of high volatility of the stock price, and it is considered a sell signal for the option traders. 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 32.89
Williams' Percentage Range (W%R) 78.70
Lane's Stochastic (%D-Slow) 16.11
Oversold Bullish
Greed/Fear Indicator (GFI) 23.43
Moving Average Converg./Diverg. (MACD) -455.47 Bullish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 28.63
Williams' Percentage Range (W%R) 82.20
Oversold
Lane's Stochastic (%D-Slow) 32.44
Greed/Fear Indicator (GFI) 29.97
Moving Average Converg./Diverg. (MACD) 261.11
Trading Signals
Description Value Chart
Upper Bollinger Band 9588.35
50 Day Moving Average 8920.56
20 Day Moving Average 8142.65
Yearly Trendline Resistance 7293.46
Weekly Trendline Resistance 7264.56
Weekly Stochastic Crossing 7237.15
Daily Stochastic Crossing 6983.54
Price 6879.52
Parabolic System 6679.67
Lower Bollinger Band 6448.22
Yearly Trendline Support 6443.80
Weekly Trendline Support 6422.26
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 7875.93
High Date 03/13/2020
Low 6686.36
Low Date 03/18/2020
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Valid
Resistance 7264.56
Support 6422.26
High 9838.37
High Date 02/19/2020
Low 6686.36
Low Date 03/18/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 6190.17
Low Date 12/24/2018
High 9838.37
High Date 02/19/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 4209.76
Low Date 02/11/2016
High 9838.37
High Date 02/19/2020
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 7293.46
Support 6443.80
Low 1265.52
Low Date 03/09/2009
High 9838.37
High Date 02/19/2020
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.

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