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Archive
- 1/15/2021 -
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Nasdaq (^IXIC) |
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| Summary:
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| | It was the negative week for the Nasdaq (^IXIC). During the week, the ^IXIC dropped -203.48 points, or -1.54%, and closed at 12998.50 on Friday, January 15, 2021. It was the worst weekly loss since October 30, 2020. Weekly volume was 55% above 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 13220.16 on January 14, 2021. ^IXIC gained -11954.64 points, or -944.64%, in 618 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (6839.20) 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 13220.16 on January 14, 2021. ^IXIC gained -9010.40 points, or -214.04%, in 257 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (7258.81) 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 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 Williams' Percentage Range and 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 links to access Lane's Stochastic and Williams' Percentage Range help.
The weekly MACD line is above its signal line since November 27, 2020. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term uptrend is getting weak. 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 13220.16 on January 14, 2021. ^IXIC gained -6588.74 points, or -99.36%, in 297 days. The chart has formed a Symmetric Triangle chart pattern. The uptrend resistance line (12518.80) 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 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 December 28, 2020. The distance between MACD and the signal line is low, but getting bigger.
The distance between the Bollinger Bands (4.61%) is close to one year low (4.46%). It is 62.30% lower than one year average. It indicates the period of low volatility of the stock price, and it is considered a buy 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.
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