The Greedy Trader Weekly Analysis
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Nasdaq
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Summary:
Weekly :Broken trend resistance linePrice is near the Fibonacci 38.2% retracement level
Daily :Lane's Stochastic is overboughtPrice is near the Fibonacci 23.6% retracement level
Move cursor over the icon to see details.

It was a second positive week after 4 consecutive negative weeks for the Nasdaq (^IXIC). During the week, the ^IXIC climbed 49.91 points, or 0.68%, and closed at 7406.90 on Friday, November 09, 2018. ^IXIC was trading at average weekly trading volume.

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 (5857.86) 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 downtrend had started on August 30, 2018 at 8133.30 and reached 6922.83 on October 29, 2018. ^IXIC lost 1210.47 points, or 14.88%, in 8 weeks. Price is near the Fibonacci 38.2% retracement level. The Fibonacci retracement level is considered a support/resistance level.

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. This is an indication that the medium-term trend is down. The distance between MACD and the signal line is near its high, but getting smaller. It indicates that the current medium-term downtrend is still strong, and momentum is beginning to wane. 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 October 29, 2018 at 6922.83 and reached 7572.93 on November 7, 2018. ^IXIC gained -650.10 points, or -9.39%, in 9 days. Price is near the Fibonacci 23.6% retracement level.

Daily Technical Indicators: [See ^IXIC daily technical indicators chart]
Daily Lane's Stochastic is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily 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 above its signal line since October 31, 2018. This is an indication that the short-term trend is up.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 48.22
Williams' Percentage Range (W%R) 27.00
Lane's Stochastic (%D-Slow) 84.43
Overbought
Greed/Fear Indicator (GFI) 68.55
Moving Average Converg./Diverg. (MACD) -111.81
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 39.10
Williams' Percentage Range (W%R) 54.90
Lane's Stochastic (%D-Slow) 26.05
Greed/Fear Indicator (GFI) 38.83
Moving Average Converg./Diverg. (MACD) 123.55
Trading Signals
Description Value Chart
Upper Bollinger Band 7766.15
50 Day Moving Average 7698.39
Daily Stochastic Crossing 7531.31
Price 7406.90
20 Day Moving Average 7383.77
Weekly Stochastic Crossing 7268.99
Parabolic System 7188.06
Lower Bollinger Band 7121.51
Yearly Trendline Resistance 6473.44
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 6922.83
Low Date 10/29/2018
High 7572.93
High Date 11/07/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 8107.38
High Date 10/01/2018
Low 6922.83
Low Date 10/29/2018
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 8133.30
High Date 08/30/2018
Low 6922.83
Low Date 10/29/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
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 6473.44
Support 5857.86
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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