The Greedy Trader Weekly Analysis
Sign In Oct 23, 2020
Skip Navigation Links
Symbol:  

• Symbol Lookup
• Add to Watch List
• Candlestick Patterns - N/A
• Stock Technical Indicators
• Stock Trends Analysis
• Market Sector Rank
• Stock Trading Signals

Archive
- 10/16/2020 -
Sign In to see current Signals.

Nasdaq (^IXIC)

Subscribe to TheGreedyTrader Weekly Alerts
Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionBroken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is overboughtWeekly  MACD line has moved above its signal line
Daily :Williams' Percentage Range is overboughtStochastic has declined below the signal lineA Parabolic SAR indicator is above and near the price20 Day Moving Average has crossed above the 50 Day Moving Average
Move cursor over the icon to see details.

It was a fourth positive week after 3 consecutive negative weeks for the Nasdaq (^IXIC). During the week, the ^IXIC climbed 91.62 points, or 0.79%, and closed at 11671.56 on Friday, October 16, 2020. Weekly volume was -30% 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 12074.06 on September 2, 2020. ^IXIC gained -10808.54 points, or -854.08%, in 599 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (6721.34) 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 12074.06 on September 2, 2020. ^IXIC gained -7864.30 points, or -186.81%, in 237 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (7109.25) 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 is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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.

During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. 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 12074.06 on September 2, 2020. ^IXIC gained -5442.64 points, or -82.07%, in 163 days. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 10920.46 and resistance is at 13209.46. 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 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. During the last week, daily Lane's Stochastic main line (%K) has declined below the overbought signal line (%D). Such crossover is considered a bearish signal. Use the following link to access Lane's Stochastic help.

The daily MACD line is above its signal line since September 29, 2020. This is an indication that the short-term trend is up.

A Parabolic SAR (stop and reversal) indicator (11622.78) comes close to the price (11671.56). It indicates that the trend is getting weaker. 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.

During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 64.68
Williams' Percentage Range (W%R) 14.10
Overbought
Lane's Stochastic (%D-Slow) 78.70
Greed/Fear Indicator (GFI) 76.43
Moving Average Converg./Diverg. (MACD) 121.26
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 65.65
Williams' Percentage Range (W%R) 11.40
Overbought
Lane's Stochastic (%D-Slow) 50.66
Greed/Fear Indicator (GFI) 65.50
Moving Average Converg./Diverg. (MACD) 601.40
Trading Signals
Description Value Chart
Weekly Trendline Resistance 13209.46
Upper Bollinger Band 12156.07
Daily Stochastic Crossing 11794.22
Price 11671.56
Parabolic System 11622.78
Weekly Stochastic Crossing 11338.55
20 Day Moving Average 11274.00
50 Day Moving Average 11250.37
Weekly Trendline Support 10920.46
Lower Bollinger Band 10657.72
Quarterly Trendline Resistance 10616.77
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Low 10519.49
Low Date 09/21/2020
High 11965.54
High Date 10/12/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 13209.46
Support 10920.46
Low 6631.42
Low Date 03/23/2020
High 12074.06
High Date 09/02/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 6190.17
Low Date 12/24/2018
High 12074.06
High Date 09/02/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 10616.77
Support 7109.25
Low 4209.76
Low Date 02/11/2016
High 12074.06
High Date 09/02/2020
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 7571.00
Support 6721.34
Low 1265.52
Low Date 03/09/2009
High 12074.06
High Date 09/02/2020
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.

Copyright© 2004-2018 All rights reserved.