The Greedy Trader Weekly Analysis
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Yearly Price vs. Trendline:Broken Resistance
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Trend Line Resistance Trend Line Support Resistance.
Trendline support resistance provides an excellent buy/sell signals in trending market. On an uptrend, buy around the support trend line level and place a stop order below the trend line support. Take profit on the trend line resistance level. Reverse the technique in a downtrend. Short around the resistance trend line level and place a stop order above the trend line resistance.
Resistance Trend Line,Trend Line Resistance,Trend Line Support,Support Resistance,support and resistance,chart trend line,trend support

Nasdaq (^IXIC)

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Summary:
Weekly :Broken trend resistance line
Daily :Williams' Percentage Range is overboughtLane's Stochastic is strongly overbought
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It was a third consecutive positive week for the Nasdaq (^IXIC). During the week, the ^IXIC gained 266.86 points, or 2.15%, and closed at 12657.55 on Friday, August 5, 2022. ^IXIC was trading at average weekly trading volume.

Long-term trend: [See ^IXIC long-term trend chart]
A long-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 chart has formed a Broadening Descending Wedge chart pattern. The trend support level is at 9539.88 and resistance is at 13045.59. A Broadening Descending 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 Descending Wedge chart pattern help, or use a Technical Stock Screener to see the list of stocks with Broadening Descending Wedge pattern in a long-term trend.

Medium-term trend: [See ^IXIC medium-term trend chart]
A medium-term uptrend had started on June 16, 2022 at 10565.14 and reached 12736.19 on August 4, 2022. ^IXIC gained -2171.05 points, or -20.55%, in 7 weeks. The chart has formed a Ascending Triangle chart pattern. The uptrend resistance line (11419.23) 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 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 July 22, 2022. 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 uptrend had started on July 26, 2022 at 11533.37 and reached 12736.19 on August 4, 2022. ^IXIC gained -1202.82 points, or -10.43%, in 9 days. The price is now at the 6.54% retracement level.

Daily Technical Indicators: [See ^IXIC daily technical indicators chart]
Daily 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 daily Williams' Percentage Range or strongly overbought daily 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 daily MACD line is above its signal line since June 23, 2022. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 75.93
Williams' Percentage Range (W%R) 11.40
Overbought
Lane's Stochastic (%D-Slow) 92.00
Strong Overbought
Greed/Fear Indicator (GFI) 85.51
Overbought
Moving Average Converg./Diverg. (MACD) 204.75
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 52.57
Williams' Percentage Range (W%R) 51.60
Lane's Stochastic (%D-Slow) 64.07
Greed/Fear Indicator (GFI) 55.46
Moving Average Converg./Diverg. (MACD) -715.83
Trading Signals
Description Value Chart
Quarterly Trendline Resistance 13045.59
Upper Bollinger Band 13019.00
Daily Stochastic Crossing 12668.83
Price 12657.55
Parabolic System 12308.17
Weekly Stochastic Crossing 12113.49
20 Day Moving Average 11907.40
Monthly Trendline Resistance 11720.23
50 Day Moving Average 11648.04
Monthly Trendline Support 11419.23
Lower Bollinger Band 11059.95
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 11533.37
Low Date 07/26/2022
High 12736.19
High Date 08/04/2022
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 11005.93
Low Date 07/14/2022
High 12736.19
High Date 08/04/2022
Description Value
Direction Up
Chart Pattern Ascending Triangle
Status Broken Resistance
Resistance 11720.23
Support 11419.23
Low 10565.14
Low Date 06/16/2022
High 12736.19
High Date 08/04/2022
Quarterly Trend
Yearly Trend
Description Value
Direction Down
Chart Pattern Broadening Descending Wedge
Status Valid
Resistance 13045.59
Support 9539.88
High 16212.23
High Date 11/22/2021
Low 10565.14
Low Date 06/16/2022
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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