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.
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- 11/19/2021 -
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Nasdaq (^IXIC)

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Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionBroken uptrend resistance line - uptrend exhaustionLane's Stochastic is overboughtWilliams' Percentage Range is strongly overboughtLane's Stochastic bearish divergence
Daily :Williams' Percentage Range is strongly overboughtRelative Strength Index, Lane's Stochastic and MACD bearish divergenceThe price has risen above the Parabolic SARTrend resistance at 16099.74
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It was a first positive week for the Nasdaq (^IXIC). During the week, the ^IXIC gained 196.48 points, or 1.24%, and closed at 16057.44 on Friday, November 19, 2021. Weekly volume was 8% 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 16121.12 on November 19, 2021. ^IXIC gained -14855.60 points, or -1173.87%, in 662 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (7246.02) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 February 11, 2016 at 4209.76 and reached 16121.12 on November 19, 2021. ^IXIC gained -11911.36 points, or -282.95%, in 301 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (7775.06) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly Williams' Percentage Range. Weekly Lane's Stochastic has bearish 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 bearish 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 above its signal line since October 29, 2021. 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 March 23, 2020 at 6631.42 and reached 16121.12 on November 19, 2021. ^IXIC gained -9489.70 points, or -143.10%, in 606 days. The chart has formed a Rising Channel chart pattern. The price is near the trend resistance line (16099.74). 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 Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range. Daily Relative Strength Index, Lane's Stochastic and MACD have bearish divergence. Use the following links to access the Relative Strength Index, Lane's Stochastic and MACD help, or use the Technical Stock Screener to see the list of stocks with daily Relative Strength Index, Lane's Stochastic and MACD bearish divergence. Use the following link to access Relative Strength Index help.

The daily MACD line is above its signal line since November 18, 2021. 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 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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 67.76
Bearish
Williams' Percentage Range (W%R) 7.50
Strong Overbought
Lane's Stochastic (%D-Slow) 79.87
Bearish
Greed/Fear Indicator (GFI) 80.04
Overbought
Moving Average Converg./Diverg. (MACD) 242.77 Bearish
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 68.86
Williams' Percentage Range (W%R) 4.10
Strong Overbought
Lane's Stochastic (%D-Slow) 89.58
Overbought Bearish
Greed/Fear Indicator (GFI) 81.57
Overbought
Moving Average Converg./Diverg. (MACD) 438.09
Trading Signals
Description Value Chart
Upper Bollinger Band 16217.48
Weekly Trendline Resistance 16099.74
Price 16057.44
Daily Stochastic Crossing 16032.35
Weekly Stochastic Crossing 15982.58
20 Day Moving Average 15723.55
Parabolic System 15528.14
50 Day Moving Average 15175.02
Lower Bollinger Band 15154.07
Weekly Trendline Support 14640.97
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Low 14181.69
Low Date 10/04/2021
High 16121.12
High Date 11/19/2021
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Test Resistance
Resistance 16099.74
Support 14640.97
Low 6631.42
Low Date 03/23/2020
High 16121.12
High Date 11/19/2021
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 6190.17
Low Date 12/24/2018
High 16121.12
High Date 11/19/2021
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 11895.57
Support 7775.06
Low 4209.76
Low Date 02/11/2016
High 16121.12
High Date 11/19/2021
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 8095.68
Support 7246.02
Low 1265.52
Low Date 03/09/2009
High 16121.12
High Date 11/19/2021
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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