The Greedy Trader Weekly Analysis
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Price vs. 20 Day Moving Average:Crossover
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Moving Average Crossover - stock market timing alerts.

The moving average is one of the oldest analytical tools for stock market alerts. It shows the average value of the stock price over a period of time and is used to emphasize the the direction of a trend. While the price is below the moving average, it is considered as bearish behavior in relation to the trend length being viewed.

When the price falls from the level above the moving average to the level below the moving average, it warns that the price trend being viewed may be weakening, and it presents stock market timing alerts. The moving average is a lagging indicator of the price trend.

Moving average and stock price crossover is a stock trading signal. The basic interpretation is to buy when the stock price moves above its moving average and sell when the price moves below its moving average. The length of the moving average should match the trend time frame. We use a 20-day moving average crossover to identify weekly trend and 50-day moving average crossover for monthly trend stock market alerts.

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- 3/28/2024 -
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Nasdaq (^IXIC) Technical Analysis

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Summary:
Weekly :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtRelative Strength Index, Lane's Stochastic and MACD bearish divergenceTrend support at 16344.63
Daily :Daily  MACD line has moved below its signal lineA Parabolic SAR indicator is above and near the priceTrend support at 16349.08The Bollinger Bands are historically close together
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It was the negative week for the Nasdaq (^IXIC). During the week, the ^IXIC gave back -49.36 points, or -0.30%, and closed at 16379.46 on Thursday, March 28, 2024. ^IXIC was trading at average weekly trading volume.

Long-term trend: [See ^IXIC long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 10088.83 and reached 16538.86 on March 21, 2024. ^IXIC gained -6450.03 points, or -63.93%, in 75 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 13544.69 and resistance is at 17845.94. 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 long-term trend.

Medium-term trend: [See ^IXIC medium-term trend chart]
A medium-term uptrend had started on October 26, 2023 at 12543.86 and reached 16538.86 on March 21, 2024. ^IXIC gained -3995.00 points, or -31.85%, in 21 weeks. The chart has formed a Rising Channel chart pattern. The price is near the trend support (16344.63) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a medium-term trend.

Weekly Technical Indicators: [See ^IXIC weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. 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 November 24, 2023. 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 January 5, 2024 at 14477.57 and reached 16538.86 on March 21, 2024. ^IXIC gained -2061.29 points, or -14.24%, in 76 days. The chart has formed a Rising Wedge chart pattern. The price is near the trend support (16349.08) line. The support is usually stronger when technical indicators are oversold. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend support line in a short-term trend.

Daily Technical Indicators: [See ^IXIC daily technical indicators chart]
Daily technical indicators are neutral.

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

A Parabolic SAR (stop and reversal) indicator (16254.76) comes close to the price (16379.46). 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.

The distance between the Bollinger Bands (3.71%) is close to one year low (3.61%). 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 61.52
Williams' Percentage Range (W%R) 23.90
Lane's Stochastic (%D-Slow) 74.11
Greed/Fear Indicator (GFI) 70.58
Moving Average Converg./Diverg. (MACD) 154.24
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 69.84
Bearish
Williams' Percentage Range (W%R) 5.10
Strong Overbought
Lane's Stochastic (%D-Slow) 88.08
Overbought Bearish
Greed/Fear Indicator (GFI) 81.45
Overbought
Moving Average Converg./Diverg. (MACD) 633.37 Bearish
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 17845.94
Monthly Trendline Resistance 17055.58
Weekly Trendline Resistance 16730.95
Upper Bollinger Band 16500.13
Price 16379.46
Daily Stochastic Crossing 16375.26
Weekly Stochastic Crossing 16365.67
Weekly Trendline Support 16349.08
Monthly Trendline Support 16344.63
Parabolic System 16254.76
20 Day Moving Average 16216.30
Lower Bollinger Band 15892.96
50 Day Moving Average 15888.14
Quarterly Trendline Support 13544.69
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 15451.65
Low Date 02/21/2024
High 16538.86
High Date 03/21/2024
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Test Support
Resistance 16730.95
Support 16349.08
Low 14477.57
Low Date 01/05/2024
High 16538.86
High Date 03/21/2024
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Support
Resistance 17055.58
Support 16344.63
Low 12543.86
Low Date 10/26/2023
High 16538.86
High Date 03/21/2024
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 17845.94
Support 13544.69
Low 10088.83
Low Date 10/13/2022
High 16538.86
High Date 03/21/2024
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 16212.23
High Date 11/22/2021
Low 10088.83
Low Date 10/13/2022
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.