The Greedy Trader Weekly Analysis
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Archive
- 3/15/2019
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Nasdaq
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Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range and Lane's Stochastic are strongly overbought
Daily :Williams' Percentage Range and Lane's Stochastic are overboughtRelative Strength Index bearish divergenceThe price has risen above the Parabolic SARThe price is above the upper Bollinger BandThe period of low volatility of the stock price
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It was a first positive week for the Nasdaq (^IXIC). During the week, the ^IXIC gained 280.39 points, or 3.78%, and closed at 7688.53 on Friday, March 15, 2019. It was the best weekly gain since November 30, 2018. ^IXIC was trading at average weekly trading volume.

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 (6016.98) 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 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 6384.26 and resistance is at 8883.82. 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 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. 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 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 March 8, 2019 at 7332.92 and reached 7714.96 on March 15, 2019. ^IXIC gained -382.04 points, or -5.21%, in 7 days. The price is now at the 6.92% retracement level.

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. Daily Relative Strength Index has bearish divergence. Use the following links to access the Relative Strength Index help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index bearish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. Use the following link to access Relative Strength Index help.

The daily MACD line is below its signal line since February 27, 2019. The distance between MACD and the signal line is low and getting smaller.

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 has closed on Friday above the upper Bollinger Band. It is considered a bullish signal. The distance between the Bollinger Bands is falling, and it was 3.67% on Friday. It is 53.95% lower than one year average. It indicates the period of low volatility of the stock price. 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) 61.40
Bearish
Williams' Percentage Range (W%R) 18.40
Overbought
Lane's Stochastic (%D-Slow) 85.08
Overbought
Greed/Fear Indicator (GFI) 76.04
Moving Average Converg./Diverg. (MACD) 90.45
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 65.20
Williams' Percentage Range (W%R) 4.60
Strong Overbought
Lane's Stochastic (%D-Slow) 94.55
Strong Overbought
Greed/Fear Indicator (GFI) 83.87
Overbought
Moving Average Converg./Diverg. (MACD) -73.03
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 8883.82
Monthly Trendline Resistance 7967.91
Price 7688.53
Weekly Stochastic Crossing 7672.54
Daily Stochastic Crossing 7670.02
Upper Bollinger Band 7654.50
20 Day Moving Average 7541.15
Lower Bollinger Band 7372.39
Parabolic System 7347.91
50 Day Moving Average 7285.50
Yearly Trendline Resistance 6632.56
Quarterly Trendline Support 6384.26
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 7332.92
Low Date 03/08/2019
High 7714.96
High Date 03/15/2019
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 6190.17
Low Date 12/24/2018
High 7714.96
High Date 03/15/2019
Description Value
Direction Down
Chart Pattern Broadening Right-Angled, Descending Wedge
Status Valid
Resistance 7967.91
Support 4938.73
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 8883.82
Support 6384.26
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 6632.56
Support 6016.98
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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