The Greedy Trader Weekly Analysis
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Nasdaq
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Summary:
Weekly :Lane's Stochastic is overboughtStochastic has declined below the signal lineRelative Strength Index, Lane's Stochastic and MACD bearish divergenceBroken trend resistance line
Daily :Broken trend support lineStochastic signal line moved below overbought areaDaily  MACD line has moved below its signal lineThe price has fallen below the Parabolic SARThe price has declined below the moving average in the center of the Bollinger BandsPrice is close to the 50 Day Moving Average
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It was the negative week for the Nasdaq (^IXIC). During the week, the ^IXIC dropped -207.00 points, or -2.55%, and closed at 7902.54 on Friday, September 07, 2018. It was the worst weekly loss since March 23, 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 (5772.62) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 Rising Channel chart pattern. The trend support level is at 7692.02 and resistance is at 8051.37. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See ^IXIC weekly technical indicators chart]
Weekly Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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. 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 and Relative Strength Index help.

The weekly MACD line is above its signal line since June 1, 2018. 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 July 30, 2018 at 7604.24 and reached 8133.30 on August 30, 2018. ^IXIC gained -529.06 points, or -6.96%, in 31 days. The chart has formed a Rising Channel chart pattern. The uptrend support line (7950.05) is broken. A broken support is considered to be a long-term bearish signal. 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 support in a short-term trend.

Daily Technical Indicators: [See ^IXIC daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.

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

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

During the last week, the price has declined below the moving average in the center of the Bollinger Bands. 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.

Price is close to the 50 Day Moving Average. 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) 57.64
Williams' Percentage Range (W%R) 63.50
Lane's Stochastic (%D-Slow) 50.38
Greed/Fear Indicator (GFI) 48.16
Moving Average Converg./Diverg. (MACD) 62.59
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 61.95
Bearish
Williams' Percentage Range (W%R) 21.10
Lane's Stochastic (%D-Slow) 85.20
Overbought Bearish
Greed/Fear Indicator (GFI) 72.62
Moving Average Converg./Diverg. (MACD) 209.01 Bearish
Trading Signals
Description Value Chart
Upper Bollinger Band 8157.71
Weekly Trendline Resistance 8157.19
Parabolic System 8115.76
Monthly Trendline Resistance 8096.98
Weekly Stochastic Crossing 8052.50
Quarterly Trendline Resistance 8051.37
Daily Stochastic Crossing 7977.61
Weekly Trendline Support 7950.05
20 Day Moving Average 7929.38
Price 7902.54
Monthly Trendline Support 7883.28
50 Day Moving Average 7826.82
Lower Bollinger Band 7722.97
Quarterly Trendline Support 7692.02
Yearly Trendline Resistance 6388.20
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 8133.30
High Date 08/30/2018
Low 7873.93
Low Date 09/07/2018
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 8157.19
Support 7950.05
Low 7604.24
Low Date 07/30/2018
High 8133.30
High Date 08/30/2018
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 8096.98
Support 7883.28
Low 6805.96
Low Date 04/02/2018
High 8133.30
High Date 08/30/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 8051.37
Support 7692.02
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 6388.20
Support 5772.62
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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