The Greedy Trader Weekly Analysis
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Nasdaq
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Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionLane's Stochastic is overboughtWilliams' Percentage Range is strongly overbought
Daily :Lane's Stochastic is overboughtDaily  MACD line has moved above its signal lineThe price has risen above the Parabolic SAR
Move cursor over the icon to see details.

It was a second consecutive positive week for the Nasdaq (^IXIC). During the week, the ^IXIC climbed 27.10 points, or 0.35%, and closed at 7839.11 on Friday, August 10, 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 7933.31 on July 25, 2018. ^IXIC gained -6667.79 points, or -526.88%, in 489 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (5736.63) is broken, while daily and weekly technical indicators are overbought. Uptrend is exhausted and trend reversal is possible soon. 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 7933.31 on July 25, 2018. ^IXIC gained -3723.55 points, or -88.45%, in 127 weeks. The chart has formed a Rising Channel chart pattern. The trend support level is at 7586.66 and resistance is at 7946.01. A Rising Channel represents price movement contained between parallel lower (support) and upper (resistance) trend lines. Trading Channeling stocks is one of the most reliable and accurate trading techniques that provide traders with precise entry and exit points as well as stop-losses and take-profit recommendations. Use the following link to access a Rising Channel chart pattern help, or use a Technical Stock Screener to see the list of stocks with Rising Channel pattern in a medium-term trend.

Weekly Technical Indicators: [See ^IXIC weekly technical indicators chart]
Weekly Lane's Stochastic is overbought while Williams' Percentage Range is strongly overbought. Use the Technical Stock Screener to see the list of stocks with overbought weekly Lane's Stochastic or strongly overbought weekly 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 links to access Lane's Stochastic and Williams' Percentage Range help.

The weekly MACD line is above its signal line since June 1, 2018. This is an indication that the medium-term trend is up. The distance between MACD and the signal line is low, but getting bigger. It indicates that the current medium-term uptrend is getting stronger. 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 July 30, 2018 at 7604.24 and reached 7923.35 on August 9, 2018. ^IXIC gained -319.11 points, or -4.20%, in 10 days. The price is now at the 26.40% 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.

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.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 49.81
Williams' Percentage Range (W%R) 30.00
Lane's Stochastic (%D-Slow) 86.20
Overbought
Greed/Fear Indicator (GFI) 68.68
Moving Average Converg./Diverg. (MACD) 43.12
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 72.88
Williams' Percentage Range (W%R) 8.70
Strong Overbought
Lane's Stochastic (%D-Slow) 84.83
Overbought
Greed/Fear Indicator (GFI) 78.14
Moving Average Converg./Diverg. (MACD) 198.14
Trading Signals
Description Value Chart
Monthly Trendline Resistance 7996.67
Upper Bollinger Band 7948.00
Quarterly Trendline Resistance 7946.01
Daily Stochastic Crossing 7892.59
Weekly Stochastic Crossing 7844.61
Price 7839.11
20 Day Moving Average 7817.58
50 Day Moving Average 7722.53
Monthly Trendline Support 7716.46
Lower Bollinger Band 7650.22
Parabolic System 7645.45
Quarterly Trendline Support 7586.66
Yearly Trendline Resistance 6352.21
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 7604.24
Low Date 07/30/2018
High 7923.35
High Date 08/09/2018
Weekly Trend
Monthly Trend
Description Value
Direction Down
Chart Pattern DownTrend
Status
Resistance
Support
High 7933.31
High Date 07/25/2018
Low 7604.24
Low Date 07/30/2018
Description Value
Direction Up
Chart Pattern Rising Wedge
Status Valid
Resistance 7996.67
Support 7716.46
Low 6805.96
Low Date 04/02/2018
High 7933.31
High Date 07/25/2018
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Rising Channel
Status Valid
Resistance 7946.01
Support 7586.66
Low 4209.76
Low Date 02/11/2016
High 7933.31
High Date 07/25/2018
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 6352.21
Support 5736.63
Low 1265.52
Low Date 03/09/2009
High 7933.31
High Date 07/25/2018
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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