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Advanced TA SearchArchive - 11/24/2023 - Sign In to see current Signals. |
Nasdaq (^IXIC) Technical Analysis
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| Summary:
| | Weekly : | | Daily :     Move cursor over the icon to see details.
| | 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.
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