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Archive - 10/18/2024 - 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 sixth consecutive positive week for the Nasdaq (^IXIC). During the week, the ^IXIC climbed 146.61 points, or 0.80%, and closed at 18489.55 on Friday, October 18, 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 18671.07 on July 11, 2024. ^IXIC gained -8582.24 points, or -85.07%, in 91 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 16091.37 and resistance is at 19977.45. 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 18564.25 on October 15, 2024. ^IXIC gained -2855.71 points, or -18.18%, in 10 weeks. The chart has formed a Rising Wedge chart pattern. The trend support level is at 18293.25 and resistance is at 18533.77. 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 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. 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. During the last week, weekly MACD line has moved above its signal line. Such crossover is considered a bullish signal. 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 18564.25 on October 15, 2024. ^IXIC gained -1895.68 points, or -11.37%, in 39 days. The chart has formed a Rising Wedge chart pattern. The trend support level is at 18383.15 and resistance is at 18654.18. 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 short-term trend. Daily Technical Indicators: [See ^IXIC daily technical indicators chart] Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range. The daily MACD line is above its signal line since October 7, 2024. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak. The price touches the upper Bollinger Band. 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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