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|It was the negative week for the Nasdaq (^IXIC). During the week, the ^IXIC dropped -291.56 points, or -3.74%, and closed at 7496.89 on Friday, October 12, 2018. Weekly volume was 19% 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 8133.30 on August 30, 2018. ^IXIC gained -6867.78 points, or -542.68%, in 494 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (5819.98) 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 8133.30 on August 30, 2018. ^IXIC gained -3923.54 points, or -93.20%, in 133 weeks. The chart has formed a Rising Channel chart pattern. The uptrend support line (7691.57) is broken. Usually a broken support is considered to be a long-term bearish signal, but since daily indicators are oversold a short-term pull back is possible. ^IXIC may retest the broken support line. It is considered to be a resistance line now. 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 support 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 September 28, 2018. The distance between MACD and the signal line is relatively high and getting bigger. Use the following link to access a MACD help.
Short-term trend: [See ^IXIC short-term trend chart]
A short-term downtrend had started on October 1, 2018 at 8107.38 and reached 7274.04 on October 11, 2018. ^IXIC lost 833.34 points, or 10.28%, in 10 days. The price is now at the 26.74% retracement level.
Daily Technical Indicators: [See ^IXIC daily technical indicators chart]
Daily Lane's Stochastic is oversold. Use the Technical Stock Screener to see the list of stocks with daily oversold 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 link to access Lane's Stochastic help.
The daily MACD line is below its signal line since October 1, 2018. This is an indication that the short-term trend is down. The distance between MACD and the signal line is near its high and getting bigger. It indicates that the current short-term downtrend is strong.
During the last week, the 20 Day Moving Average has crossed below the 50 Day Moving Average. Such crossover is considered a bearish signal. The moving average crossover signals work better when the stock develops a strong trend, but they are ineffective when the stock is in a trading range. Moving average crossover systems can be effective, but should be used in conjunction with trend patterns, momentum indicators, candlesticks and other aspects of technical analysis. Use the following links to access Moving Average Crossover trading technique, or use the Technical Stock Screener to see the list of stocks with the Moving Average close to the price level.