The Greedy Trader Weekly Analysis
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- 11/25/2022 -
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Nasdaq (^IXIC)

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Summary:
Weekly :Broken trend resistance line
Daily :20 Day Moving Average has crossed above the 50 Day Moving Average
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It was a first positive week for the Nasdaq (^IXIC). During the week, the ^IXIC climbed 80.30 points, or 0.72%, and closed at 11226.36 on Friday, November 25, 2022. Weekly volume was -23% below average.

Long-term trend: [See ^IXIC long-term trend chart]
A long-term downtrend had started on August 16, 2022 at 13181.09 and reached 10088.83 on October 13, 2022. ^IXIC lost 3092.26 points, or 23.46%, in 8 weeks. The chart has formed a Symmetric Triangle chart pattern. The downtrend resistance line (10415.27) is broken. A broken support is considered to be a long-term bullish 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 resistance line in a long-term trend.

Medium-term trend: [See ^IXIC medium-term trend chart]
A medium-term uptrend had started on October 13, 2022 at 10088.83 and reached 11492.62 on November 15, 2022. ^IXIC gained -1403.79 points, or -13.91%, in 4 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 10415.27 and resistance is at 11624.33. 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 medium-term trend.

Weekly Technical Indicators: [See ^IXIC weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is above its signal line since November 11, 2022. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. 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 November 4, 2022 at 10262.93 and reached 11492.62 on November 15, 2022. ^IXIC gained -1229.69 points, or -11.98%, in 11 days. The chart has formed a Broadening Ascending Wedge chart pattern.

Daily Technical Indicators: [See ^IXIC daily technical indicators chart]
Daily technical indicators are neutral.

The daily MACD line is above its signal line since November 9, 2022. 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.

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) 66.19
Williams' Percentage Range (W%R) 21.30
Lane's Stochastic (%D-Slow) 58.56
Greed/Fear Indicator (GFI) 67.83
Moving Average Converg./Diverg. (MACD) 46.83
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 37.71
Williams' Percentage Range (W%R) 63.10
Lane's Stochastic (%D-Slow) 45.33
Greed/Fear Indicator (GFI) 43.16
Moving Average Converg./Diverg. (MACD) -514.77
Trading Signals
Description Value Chart
Upper Bollinger Band 11691.42
Weekly Trendline Resistance 11624.33
Daily Stochastic Crossing 11263.85
Price 11226.36
20 Day Moving Average 10951.79
Parabolic System 10911.34
50 Day Moving Average 10906.74
Weekly Stochastic Crossing 10767.30
Monthly Trendline Support 10415.27
Weekly Trendline Support 10415.27
Lower Bollinger Band 10368.22
Monthly Trendline Resistance 10325.57
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Low 10262.93
Low Date 11/04/2022
High 11492.62
High Date 11/15/2022
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 11624.33
Support 10415.27
Low 10088.83
Low Date 10/13/2022
High 11492.62
High Date 11/15/2022
Description Value
Direction Down
Chart Pattern Symmetric Triangle
Status Broken Resistance
Resistance 10325.57
Support 10415.27
High 13181.09
High Date 08/16/2022
Low 10088.83
Low Date 10/13/2022
Quarterly Trend
Yearly Trend
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
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
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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