The Greedy Trader Weekly Analysis
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- 2/7/2020 -
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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 is overboughtWilliams' Percentage Range and Lane's Stochastic are strongly overboughtRelative Strength Index, Lane's Stochastic and MACD bearish divergence
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price touches the upper Bollinger Band
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It was a first positive week for the Nasdaq (^IXIC). During the week, the ^IXIC gained 369.57 points, or 4.04%, and closed at 9520.51 on Friday, February 7, 2020. Weekly volume was -41% 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 9575.66 on February 6, 2020. ^IXIC gained -8310.14 points, or -656.66%, in 569 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (6388.67) 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 9575.66 on February 6, 2020. ^IXIC gained -3385.49 points, or -54.69%, in 58 weeks. The chart has formed a Rising Wedge chart pattern. The uptrend resistance line (8940.19) 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 is overbought while Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Relative Strength Index or strongly overbought weekly Williams' Percentage Range and Lane's Stochastic. Weekly 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 weekly Relative Strength Index, Lane's Stochastic and MACD 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 October 3, 2019 at 7700.00 and reached 9575.66 on February 6, 2020. ^IXIC gained -1875.66 points, or -24.36%, in 126 days. The chart has formed a Rising Channel chart pattern.

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.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward direction. 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.

The price touches the upper Bollinger Band. 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) 56.02
Williams' Percentage Range (W%R) 10.00
Overbought
Lane's Stochastic (%D-Slow) 84.02
Overbought
Greed/Fear Indicator (GFI) 76.66
Moving Average Converg./Diverg. (MACD) 115.27
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 83.96
Overbought Bearish
Williams' Percentage Range (W%R) 2.60
Strong Overbought
Lane's Stochastic (%D-Slow) 91.82
Strong Overbought Bearish
Greed/Fear Indicator (GFI) 85.59
Overbought
Moving Average Converg./Diverg. (MACD) 279.29 Bearish
Trading Signals
Description Value Chart
Daily Stochastic Crossing 9540.71
Upper Bollinger Band 9540.21
Price 9520.51
Weekly Stochastic Crossing 9488.12
20 Day Moving Average 9332.88
Parabolic System 9154.30
Lower Bollinger Band 9069.91
50 Day Moving Average 9032.25
Monthly Trendline Support 8940.19
Monthly Trendline Resistance 8695.78
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 9575.66
High Date 02/06/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 7662.90
Low Date 08/05/2019
High 9575.66
High Date 02/06/2020
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Resistance
Resistance 8695.78
Support 8940.19
Low 6190.17
Low Date 12/24/2018
High 9575.66
High Date 02/06/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 4209.76
Low Date 02/11/2016
High 9575.66
High Date 02/06/2020
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 7238.33
Support 6388.67
Low 1265.52
Low Date 03/09/2009
High 9575.66
High Date 02/06/2020
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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