The Greedy Trader Weekly Analysis
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- 5/6/2022 -
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Nasdaq (^IXIC)

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Summary:
Weekly :Broken trend resistance lineWilliams' Percentage Range is oversold
Daily :Williams' Percentage Range is oversoldStochastic signal line moved above oversold areaTrend support at 12175.00
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It was the negative week for the Nasdaq (^IXIC). During the week, the ^IXIC dropped -189.98 points, or -1.54%, and closed at 12144.66 on Friday, May 6, 2022. Weekly volume was 6% 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 (6778.67) 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 11990.15 on May 6, 2022. ^IXIC lost 4222.08 points, or 26.04%, in 23 weeks. Price is near the trend low.

Weekly Technical Indicators: [See ^IXIC weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly oversold. Use the Technical Stock Screener to see the list of stocks with weekly strongly oversold 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 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 11990.15 on May 6, 2022. ^IXIC lost 2656.75 points, or 18.14%, in 38 days. The chart has formed a Falling Channel chart pattern. The price is near the trend support (12175.00) line. The support is usually stronger when technical indicators are oversold. 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 support line in a short-term trend.

Daily Technical Indicators: [See ^IXIC daily technical indicators chart]
Daily Williams' Percentage Range is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold Williams' Percentage Range. During the last week, daily Lane's Stochastic signal line (%D) has moved above oversold area. Such crossover is considered a bullish signal. Use the following link to access Lane's Stochastic help.

The daily MACD line is below its signal line since April 6, 2022. This is an indication that the short-term trend is down.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 35.58
Williams' Percentage Range (W%R) 86.30
Oversold
Lane's Stochastic (%D-Slow) 30.66
Greed/Fear Indicator (GFI) 26.64
Moving Average Converg./Diverg. (MACD) -300.48
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 34.97
Williams' Percentage Range (W%R) 93.40
Strong Oversold
Lane's Stochastic (%D-Slow) 35.92
Greed/Fear Indicator (GFI) 28.14
Moving Average Converg./Diverg. (MACD) -297.56 Bullish
Trading Signals
Description Value Chart
Upper Bollinger Band 13911.33
50 Day Moving Average 13423.83
20 Day Moving Average 12981.30
Parabolic System 12957.68
Weekly Trendline Resistance 12682.09
Weekly Stochastic Crossing 12674.45
Daily Stochastic Crossing 12316.38
Weekly Trendline Support 12175.00
Price 12144.66
Lower Bollinger Band 11975.66
Yearly Trendline Resistance 10239.85
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 12183.56
High Date 05/05/2022
Low 11990.15
Low Date 05/06/2022
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern Falling Channel
Status Test Support
Resistance 12682.09
Support 12175.00
High 14646.90
High Date 03/29/2022
Low 11990.15
Low Date 05/06/2022
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 16212.23
High Date 11/22/2021
Low 11990.15
Low Date 05/06/2022
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 10239.85
Support 6778.67
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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