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- 11/22/2024 -
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Nasdaq (^IXIC) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a first positive week for the Nasdaq (^IXIC). During the week, the ^IXIC gained 323.53 points, or 1.73%, and closed at 19003.65 on Friday, November 22, 2024. Weekly volume was 34% above average.
 Long-term trend: [See ^IXIC long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 10088.83 and reached 19366.07 on November 11, 2024. ^IXIC gained -9277.24 points, or -91.96%, in 108 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 16405.45 and resistance is at 20425.77. 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 August 5, 2024 at 15708.54 and reached 19366.07 on November 11, 2024. ^IXIC gained -3657.53 points, or -23.28%, in 14 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 18712.61 and resistance is at 19032.68. A Rising Wage is a triangle formation with a noticeable slant to the upside. It represents the loss of an upside momentum on each successive high and has a bearish bias. The Rising wedge usually marks a reversal in an uptrend. In a downtrend a rising wedge is considered to be a continuation pattern. Use the following link to access a Rising Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising 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 overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly 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 October 11, 2024. 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 September 6, 2024 at 16668.57 and reached 19366.07 on November 11, 2024. ^IXIC gained -2697.50 points, or -16.18%, in 66 days. The price is now at the 13.44% retracement level.
 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.
During the last week, the price has moved above 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.
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