The Greedy Trader Weekly Analysis
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Price vs. Parabolic:Crossover
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Parabolic SAR Crossover - Stock market timing signals.

The Parabolic System is also known as a Stop and Reverse (Parabolic SAR) system, and it was developed by Welles Wilder, the author of the Relative Strength Index (RSI). Parabolic System is a trend following technique that is useful for catching new trends early. The Parabolic System used to set trailing price stops. The stops below the price are considered as bullish, above the price as bearish. Parabolic SAR crossover generates excellent buy and sell signals in trending market but tends to whipsaw during non-trending, sideways phases.

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- 11/24/2023 -
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Nasdaq (^IXIC) Technical Analysis

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Summary:
Weekly :Williams' Percentage Range is overbought
Daily :Lane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtRelative Strength Index, Lane's Stochastic and MACD bearish divergenceA Parabolic SAR indicator is above and near the price20 Day Moving Average has crossed above the 50 Day Moving Average
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It was a fourth positive week after 3 consecutive negative weeks for the Nasdaq (^IXIC). During the week, the ^IXIC climbed 125.37 points, or 0.89%, and closed at 14250.85 on Friday, November 24, 2023. Weekly volume was -21% below 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 14446.55 on July 19, 2023. ^IXIC gained -4357.72 points, or -43.19%, in 39 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 12698.61 and resistance is at 16194.81. 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 downtrend had started on July 19, 2023 at 14446.55 and reached 12543.86 on October 26, 2023. ^IXIC lost 1902.69 points, or 13.17%, in 14 weeks. The price is now at the 89.71% retracement level.

Weekly Technical Indicators: [See ^IXIC weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range. 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 link to access Williams' Percentage Range help.

The weekly MACD line is below its signal line since August 18, 2023. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is low and getting smaller. It indicates that the current medium-term downtrend 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 October 26, 2023 at 12543.86 and reached 14359.61 on November 22, 2023. ^IXIC gained -1815.75 points, or -14.48%, in 27 days. The price is now at the 5.99% retracement level.

Daily Technical Indicators: [See ^IXIC daily technical indicators chart]
Daily 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 daily Lane's Stochastic or strongly overbought daily Williams' Percentage Range. Daily 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 daily 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. Use the following links to access Lane's Stochastic and Relative Strength Index help.

The daily MACD line is above its signal line since November 1, 2023. This is an indication that the short-term trend is up.

A Parabolic SAR (stop and reversal) indicator (14131.03) comes close to the price (14250.85). 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.

During the last week, the 20 Day Moving Average has advanced above the 50 Day Moving Average. Such crossover is considered a bullish signal. 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) 79.94
Bearish
Williams' Percentage Range (W%R) 6.90
Strong Overbought
Lane's Stochastic (%D-Slow) 89.07
Overbought Bearish
Greed/Fear Indicator (GFI) 87.36
Overbought
Moving Average Converg./Diverg. (MACD) 196.77 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 61.49
Williams' Percentage Range (W%R) 11.00
Overbought
Lane's Stochastic (%D-Slow) 57.85
Greed/Fear Indicator (GFI) 66.20
Moving Average Converg./Diverg. (MACD) 260.77
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 16194.81
Upper Bollinger Band 14836.41
Daily Stochastic Crossing 14319.80
Price 14250.85
Parabolic System 14131.03
Weekly Stochastic Crossing 13819.14
20 Day Moving Average 13672.63
50 Day Moving Average 13448.13
Lower Bollinger Band 12788.13
Quarterly Trendline Support 12698.61
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 14033.79
Low Date 11/16/2023
High 14359.61
High Date 11/22/2023
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 12543.86
Low Date 10/26/2023
High 14359.61
High Date 11/22/2023
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 14446.55
High Date 07/19/2023
Low 12543.86
Low Date 10/26/2023
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 16194.81
Support 12698.61
Low 10088.83
Low Date 10/13/2022
High 14446.55
High Date 07/19/2023
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.