The Greedy Trader Weekly Analysis
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Archive
- 6/7/2019
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Nasdaq
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Summary:
Weekly :Broken trend resistance line
Daily :Stochastic has raised above the signal lineDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SARThe price moved above the moving average in the center of the Bollinger Bands
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It was a first positive week after 4 consecutive negative weeks for the Nasdaq (^IXIC). During the week, the ^IXIC gained 288.95 points, or 3.88%, and closed at 7742.10 on Friday, June 7, 2019. Weekly volume was -9% below 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 8176.08 on April 29, 2019. ^IXIC gained -6910.56 points, or -546.06%, in 529 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (6159.59) 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 uptrend had started on February 11, 2016 at 4209.76 and reached 8176.08 on April 29, 2019. ^IXIC gained -3966.32 points, or -94.22%, in 167 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The trend support level is at 6536.51 and resistance is at 9321.98. 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 medium-term trend.

Weekly Technical Indicators: [See ^IXIC weekly technical indicators chart]
Weekly technical indicators are neutral.

The weekly MACD line is below its signal line since May 24, 2019. The distance between MACD and the signal line is low, but getting bigger. 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 June 3, 2019 at 7292.22 and reached 7767.02 on June 7, 2019. ^IXIC gained -474.80 points, or -6.51%, in 4 days. The price is now at the 5.25% retracement level.

Daily Technical Indicators: [See ^IXIC daily technical indicators chart]
Daily technical indicators are neutral. During the last week, daily Lane's Stochastic main line (%K) has rallied above the oversold signal line (%D). Such crossover is considered a bullish 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 link to access Lane's Stochastic help.

During the last week, daily MACD line has moved above its signal line. Such crossover is considered a bullish signal.

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.

During the last week, the price has moved above the moving average in the center of the Bollinger Bands. The Bollinger Bands are often used with a non-oscillator indicator like chart patterns or a trendline. The signals are considered more reliable if these indicators confirm the recommendation of the Bollinger Bands. Use the following links to access the Bollinger Bands Help, or use the Technical Stock Screener to see the list of stocks with the price above the Upper Bollinger Band or below the Lower Bollinger Band.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 46.68
Williams' Percentage Range (W%R) 45.10
Lane's Stochastic (%D-Slow) 60.24
Greed/Fear Indicator (GFI) 53.94
Moving Average Converg./Diverg. (MACD) -92.84
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 53.61
Williams' Percentage Range (W%R) 41.90
Lane's Stochastic (%D-Slow) 37.65
Greed/Fear Indicator (GFI) 49.05
Moving Average Converg./Diverg. (MACD) 126.15
Trading Signals
Description Value Chart
Monthly Trendline Support 8766.76
Monthly Trendline Resistance 8560.08
Upper Bollinger Band 7965.10
50 Day Moving Average 7855.82
Price 7742.10
20 Day Moving Average 7665.40
Daily Stochastic Crossing 7640.26
Weekly Stochastic Crossing 7527.82
Lower Bollinger Band 7390.20
Parabolic System 7284.93
Yearly Trendline Resistance 6674.34
Quarterly Trendline Support 6536.51
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 7292.22
Low Date 06/03/2019
High 7767.02
High Date 06/07/2019
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 8176.08
High Date 04/29/2019
Low 7292.22
Low Date 06/03/2019
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Broken Support
Resistance 8560.08
Support 8766.76
Low 6190.17
Low Date 12/24/2018
High 8176.08
High Date 04/29/2019
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Valid
Resistance 9321.98
Support 6536.51
Low 4209.76
Low Date 02/11/2016
High 8176.08
High Date 04/29/2019
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 6674.34
Support 6159.59
Low 1265.52
Low Date 03/09/2009
High 8176.08
High Date 04/29/2019
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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