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Archive
- 7/19/2024 -
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Nasdaq (^IXIC) Technical Analysis
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| Summary:
| | Weekly :  | | Daily :
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| | It was the negative week for the Nasdaq (^IXIC). During the week, the ^IXIC dropped -671.51 points, or -3.65%, and closed at 17726.94 on Friday, July 19, 2024. It was the worst weekly loss since April 19, 2024. Weekly volume was 9% 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 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 price is near the trend resistance line (17987.47). The resistance is usually stronger when technical indicators are overbought. 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 resistance line in a long-term trend.
 Medium-term trend: [See ^IXIC medium-term trend chart]
A medium-term uptrend had started on April 19, 2024 at 15222.78 and reached 18671.07 on July 11, 2024. ^IXIC gained -3448.29 points, or -22.65%, in 11 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (18380.87) is broken. A broken support is considered to be a long-term bearish signal. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with broken trend support in a medium-term trend.
 Weekly Technical Indicators: [See ^IXIC weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought while Lane's Stochastic is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Williams' Percentage Range or strongly overbought weekly 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 May 31, 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 downtrend had started on July 11, 2024 at 18671.07 and reached 17691.43 on July 19, 2024. ^IXIC lost 979.64 points, or 5.25%, in 8 days. Price is near the trend low.
 Daily Technical Indicators: [See ^IXIC daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic signal line (%D) has moved below overbought area. Such crossover is considered a bearish signal.
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 fallen below the Parabolic SAR (stop and reversal). A Parabolic SAR above the price is a bearish signal, and it indicates that momentum is likely to remain in the downward direction. 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 price has declined below 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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