The Greedy Trader Weekly Analysis
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- 1/10/2020 -
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Nasdaq (^IXIC)

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Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionBroken uptrend resistance line - uptrend exhaustionRelative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly overboughtLane's Stochastic bearish divergence
Daily :Broken uptrend resistance line - uptrend exhaustionLane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtRelative Strength Index, Lane's Stochastic and MACD bearish divergence
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It was a fifth consecutive positive week for the Nasdaq (^IXIC). During the week, the ^IXIC gained 158.09 points, or 1.75%, and closed at 9178.86 on Friday, January 10, 2020. Weekly volume was -37% 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 9235.20 on January 10, 2020. ^IXIC gained -7969.68 points, or -629.76%, in 565 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (6352.55) 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 December 24, 2018 at 6190.17 and reached 9235.20 on January 10, 2020. ^IXIC gained -3045.03 points, or -49.19%, in 54 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (8755.55) 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 Relative Strength Index, Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought Relative Strength Index, Williams' Percentage Range and Lane's Stochastic. Weekly Lane's Stochastic has bearish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading 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, Relative Strength Index and Williams' Percentage Range help.

The weekly MACD line is above its signal line since October 25, 2019. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is relatively high and getting bigger. It indicates that the current medium-term uptrend is strong. 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 August 5, 2019 at 7662.90 and reached 9235.20 on January 10, 2020. ^IXIC gained -1572.30 points, or -20.52%, in 158 days. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The uptrend resistance line (7737.71) 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 short-term trend.

Daily Technical Indicators: [See ^IXIC daily technical indicators chart]
Daily 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 daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Daily Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index, Lane's Stochastic and MACD bearish divergence.

The daily MACD line is above its signal line since December 13, 2019. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current short-term uptrend is getting stronger.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 72.71
Bearish
Williams' Percentage Range (W%R) 0.40
Strong Overbought
Lane's Stochastic (%D-Slow) 87.59
Overbought Bearish
Greed/Fear Indicator (GFI) 86.64
Overbought
Moving Average Converg./Diverg. (MACD) 131.44 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 97.62
Strong Overbought
Williams' Percentage Range (W%R) 0.10
Strong Overbought
Lane's Stochastic (%D-Slow) 95.36
Strong Overbought Bearish
Greed/Fear Indicator (GFI) 88.70
Overbought
Moving Average Converg./Diverg. (MACD) 205.54
Trading Signals
Description Value Chart
Upper Bollinger Band 9230.85
Weekly Stochastic Crossing 9206.77
Daily Stochastic Crossing 9194.80
Price 9178.86
20 Day Moving Average 8967.02
Parabolic System 8963.18
Weekly Trendline Resistance 8953.58
Monthly Trendline Support 8755.55
50 Day Moving Average 8701.26
Lower Bollinger Band 8693.91
Monthly Trendline Resistance 8645.65
Weekly Trendline Support 7737.71
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Low 7700.00
Low Date 10/03/2019
High 9235.20
High Date 01/10/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Right-Angled, Ascending Wedge
Status Broken Resistance
Resistance 8953.58
Support 7737.71
Low 7662.90
Low Date 08/05/2019
High 9235.20
High Date 01/10/2020
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 8645.65
Support 8755.55
Low 6190.17
Low Date 12/24/2018
High 9235.20
High Date 01/10/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 4209.76
Low Date 02/11/2016
High 9235.20
High Date 01/10/2020
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 7202.21
Support 6352.55
Low 1265.52
Low Date 03/09/2009
High 9235.20
High Date 01/10/2020
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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