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- 11/8/2019 -
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Nasdaq (^IXIC) |
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| Summary:
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| | It was a sixth consecutive positive week for the Nasdaq (^IXIC). During the week, the ^IXIC gained 88.91 points, or 1.06%, and closed at 8475.31 on Friday, November 8, 2019. Weekly volume was -44% 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 8483.16 on November 7, 2019. ^IXIC gained -7217.64 points, or -570.33%, in 556 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (6361.32) 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 8483.16 on November 7, 2019. ^IXIC gained -2292.99 points, or -37.04%, in 45 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 8347.40 and resistance is at 8534.86. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Wedge pattern in a medium-term trend.
 Weekly Technical Indicators: [See ^IXIC weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought 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 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 low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. 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 8483.16 on November 7, 2019. ^IXIC gained -820.26 points, or -10.70%, in 94 days. The chart has formed a Broadening Right-Angled, Ascending Wedge chart pattern. The trend support level is at 7717.66 and resistance is at 8592.42. 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 Right-Angled, Ascending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Right-Angled, Ascending Wedge pattern in a short-term trend.
 Daily Technical Indicators: [See ^IXIC daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range and Lane's Stochastic. Use the following link to access Lane's Stochastic help.
The daily MACD line is above its signal line since October 11, 2019. This is an indication that the short-term trend is up.
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