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Archive
- 3/8/2019
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Nasdaq
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Summary:
Weekly :Lane's Stochastic is strongly overboughtStochastic has declined below the signal lineBroken trend resistance line
Daily :Broken trend support lineThe price has declined below the moving average in the center of the Bollinger Bands
Move cursor over the icon to see details.

It was the negative week for the Nasdaq (^IXIC). During the week, the ^IXIC dropped -187.21 points, or -2.46%, and closed at 7408.14 on Friday, March 8, 2019. It was the worst weekly loss since December 21, 2018. Weekly volume was -12% 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 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 (6007.51) 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 Broadening Ascending Wedge chart pattern. The trend support level is at 6371.13 and resistance is at 8855.64. 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 Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought 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 link to access Lane's Stochastic 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 uptrend had started on December 24, 2018 at 6190.17 and reached 7643.66 on March 4, 2019. ^IXIC gained -1453.49 points, or -23.48%, in 70 days. The chart has formed a Rising Wedge chart pattern. The uptrend support line (7771.74) 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 technical indicators are neutral.

The daily MACD line is below its signal line since February 27, 2019.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 42.41
Williams' Percentage Range (W%R) 73.90
Lane's Stochastic (%D-Slow) 37.54
Greed/Fear Indicator (GFI) 35.35
Moving Average Converg./Diverg. (MACD) 105.05
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 51.59
Williams' Percentage Range (W%R) 22.70
Lane's Stochastic (%D-Slow) 93.28
Strong Overbought
Greed/Fear Indicator (GFI) 75.09
Moving Average Converg./Diverg. (MACD) -92.09
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 8855.64
Monthly Trendline Resistance 7974.08
Weekly Trendline Support 7771.74
Weekly Trendline Resistance 7748.42
Parabolic System 7638.57
Upper Bollinger Band 7608.49
Weekly Stochastic Crossing 7601.60
20 Day Moving Average 7478.96
Daily Stochastic Crossing 7425.18
Price 7408.14
Lower Bollinger Band 7278.42
50 Day Moving Average 7183.65
Yearly Trendline Resistance 6623.09
Quarterly Trendline Support 6371.13
Yearly Trendline Support 6007.51
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 7643.66
High Date 03/04/2019
Low 7332.92
Low Date 03/08/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 7748.42
Support 7771.74
Low 6190.17
Low Date 12/24/2018
High 7643.66
High Date 03/04/2019
Description Value
Direction Down
Chart Pattern Broadening Right-Angled, Descending Wedge
Status Valid
Resistance 7974.08
Support 5052.50
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 Broadening Ascending Wedge
Status Valid
Resistance 8855.64
Support 6371.13
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 6623.09
Support 6007.51
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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