The Greedy Trader Weekly Analysis
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- 6/24/2022 -
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Nasdaq (^IXIC)

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Summary:
Weekly :Broken trend resistance lineWilliams' Percentage Range and Lane's Stochastic are oversoldStochastic has raised above the signal lineLane's Stochastic bullish divergence
Daily :Stochastic signal line moved above oversold areaDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARTrend resistance at 11544.53The price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week after 3 consecutive negative weeks for the Nasdaq (^IXIC). During the week, the ^IXIC gained 809.27 points, or 7.49%, and closed at 11607.62 on Friday, June 24, 2022. It was the best weekly gain since March 18, 2022. Weekly volume was 30% above average.

Long-term trend: [See ^IXIC long-term trend chart]
A long-term uptrend had started on March 9, 2009 at 1265.52 and reached 16212.23 on November 22, 2021. ^IXIC gained -14946.71 points, or -1181.07%, in 663 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (6832.80) is broken. Usually a broken resistance is considered to be a long-term bullish signal, although a short-term pull back is possible. 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 resistance line in a long-term trend.

Medium-term trend: [See ^IXIC medium-term trend chart]
A medium-term downtrend had started on November 22, 2021 at 16212.23 and reached 10565.14 on June 16, 2022. ^IXIC lost 5647.09 points, or 34.83%, in 29 weeks. The price is now at the 18.46% retracement level.

Weekly Technical Indicators: [See ^IXIC weekly technical indicators chart]
Weekly Williams' Percentage Range and Lane's Stochastic are oversold. Use the Technical Stock Screener to see the list of stocks with weekly oversold Williams' Percentage Range and Lane's Stochastic. During the last week, weekly Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish signal. Weekly Lane's Stochastic has bullish divergence. Use the following links to access the Lane's Stochastic help, or use the Technical Stock Screener to see the list of stocks with weekly Lane's Stochastic bullish divergence. The divergence between price and indicator is considering one of the most important buy/sell stocks trading signal. 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 below its signal line since December 3, 2021. This is an indication that the medium-term trend is down. 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 March 29, 2022 at 14646.90 and reached 10565.14 on June 16, 2022. ^IXIC lost 4081.76 points, or 27.87%, in 79 days. The chart has formed a Falling Wedge chart pattern. The price is near the trend resistance line (11544.53). 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 short-term trend.

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 above oversold area. Such crossover is considered a bullish signal.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

During the last week, the price has risen above the Parabolic SAR (stop and reversal). A Parabolic SAR below the price is a bullish signal, and it indicates that momentum is likely to remain in the upward 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 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.80
Williams' Percentage Range (W%R) 55.20
Lane's Stochastic (%D-Slow) 48.30
Greed/Fear Indicator (GFI) 45.63
Moving Average Converg./Diverg. (MACD) -286.21
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 31.54
Williams' Percentage Range (W%R) 80.70
Oversold
Lane's Stochastic (%D-Slow) 18.24
Oversold Bullish
Greed/Fear Indicator (GFI) 25.70
Moving Average Converg./Diverg. (MACD) -636.21 Bullish
Trading Signals
Description Value Chart
Upper Bollinger Band 12522.10
50 Day Moving Average 11998.27
Price 11607.62
Weekly Trendline Resistance 11544.53
20 Day Moving Average 11541.89
Daily Stochastic Crossing 11161.41
Weekly Stochastic Crossing 11058.96
Parabolic System 10554.57
Weekly Trendline Support 10434.43
Lower Bollinger Band 10346.26
Yearly Trendline Resistance 10326.51
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 12320.12
High Date 06/02/2022
Low 10565.14
Low Date 06/16/2022
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Wedge
Status Test Resistance
Resistance 11544.53
Support 10434.43
High 14646.90
High Date 03/29/2022
Low 10565.14
Low Date 06/16/2022
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 16212.23
High Date 11/22/2021
Low 10565.14
Low Date 06/16/2022
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 4209.76
Low Date 02/11/2016
High 16212.23
High Date 11/22/2021
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 10326.51
Support 6832.80
Low 1265.52
Low Date 03/09/2009
High 16212.23
High Date 11/22/2021
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.

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