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- 5/10/2024 -
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Nasdaq (^IXIC) Technical Analysis
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| Summary:
| | Weekly : | | Daily :
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| | It was a third positive week after 4 consecutive negative weeks for the Nasdaq (^IXIC). During the week, the ^IXIC gained 184.54 points, or 1.14%, and closed at 16340.87 on Friday, May 10, 2024. Weekly volume was -8% below average.
 Long-term trend: [See ^IXIC long-term trend chart]
A long-term uptrend had started on October 13, 2022 at 10088.83 and reached 16538.86 on March 21, 2024. ^IXIC gained -6450.03 points, or -63.93%, in 75 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 13843.31 and resistance is at 18428.69. 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 long-term trend.
 Medium-term trend: [See ^IXIC medium-term trend chart]
A medium-term downtrend had started on March 21, 2024 at 16538.86 and reached 15222.78 on April 19, 2024. ^IXIC lost 1316.08 points, or 7.96%, in 4 weeks. The price is now at the 84.96% retracement level.
 Weekly Technical Indicators: [See ^IXIC weekly technical indicators chart]
Weekly Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought weekly overbought 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 April 12, 2024. 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 uptrend had started on April 19, 2024 at 15222.78 and reached 16437.39 on May 10, 2024. ^IXIC gained -1214.61 points, or -7.98%, in 21 days. The price is now at the 7.95% retracement level.
 Daily Technical Indicators: [See ^IXIC daily technical indicators chart]
Daily Williams' Percentage Range and Lane's Stochastic are strongly overbought. Use the Technical Stock Screener to see the list of stocks with strongly overbought daily overbought Williams' Percentage Range and Lane's Stochastic. Use the following link to access Lane's Stochastic help.
The daily MACD line is above its signal line since May 1, 2024. This is an indication that the short-term trend is up.
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