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Nasdaq (^IXIC) |
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| Summary:
| | Weekly : | | Daily :
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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.
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