The Greedy Trader Weekly Analysis
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Archive
- 10/12/2018
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Nasdaq
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Summary:
Weekly :Broken trend resistance lineBroken trend support line
Daily :20 Day Moving Average has crossed below the 50 Day Moving AverageLane's Stochastic is oversold
Move cursor over the icon to see details.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 25.85
Williams' Percentage Range (W%R) 71.90
Lane's Stochastic (%D-Slow) 14.34
Oversold
Greed/Fear Indicator (GFI) 22.75
Moving Average Converg./Diverg. (MACD) -46.24
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 43.98
Williams' Percentage Range (W%R) 72.80
Lane's Stochastic (%D-Slow) 57.71
Greed/Fear Indicator (GFI) 43.15
Moving Average Converg./Diverg. (MACD) 205.83
Trading Signals
Description Value Chart
Upper Bollinger Band 8224.32
Monthly Trendline Resistance 8143.18
Monthly Trendline Support 8103.37
Quarterly Trendline Resistance 8097.12
50 Day Moving Average 7902.92
20 Day Moving Average 7867.42
Parabolic System 7813.10
Weekly Stochastic Crossing 7743.36
Quarterly Trendline Support 7691.57
Price 7496.89
Daily Stochastic Crossing 7378.87
Lower Bollinger Band 7373.08
Yearly Trendline Resistance 6435.56
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Down
Chart Pattern DownTrend
High 8107.38
High Date 10/01/2018
Low 7274.04
Low Date 10/11/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 8107.38
High Date 10/01/2018
Low 7274.04
Low Date 10/11/2018
Description Value
Direction Down
Chart Pattern Rising Wedge
Status Broken Support
Resistance 8143.18
Support 8103.37
High 8133.30
High Date 08/30/2018
Low 7274.04
Low Date 10/11/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Support
Resistance 8097.12
Support 7691.57
Low 4209.76
Low Date 02/11/2016
High 8133.30
High Date 08/30/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 6435.56
Support 5819.98
Low 1265.52
Low Date 03/09/2009
High 8133.30
High Date 08/30/2018
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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