The Greedy Trader Weekly Analysis
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Nasdaq (^IXIC)

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Summary:
Weekly :Broken uptrend resistance line - uptrend exhaustionBroken uptrend resistance line - uptrend exhaustionWilliams' Percentage Range is overbought
Daily :Williams' Percentage Range is overboughtTrend resistance at 11848.98
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It was a first positive week for the Nasdaq (^IXIC). During the week, the ^IXIC climbed 25.68 points, or 0.22%, and closed at 11854.97 on Friday, November 20, 2020. Weekly volume was 12% 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 12108.07 on November 9, 2020. ^IXIC gained -10842.55 points, or -856.77%, in 609 weeks. The chart has formed a Rising Channel chart pattern. The uptrend resistance line (6768.87) 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 12108.07 on November 9, 2020. ^IXIC gained -7898.31 points, or -187.62%, in 247 weeks. The chart has formed a Broadening Ascending Wedge chart pattern. The uptrend resistance line (7169.56) 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 medium-term trend.

Weekly Technical Indicators: [See ^IXIC weekly technical indicators chart]
Weekly Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with 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 link to access Williams' Percentage Range help.

The weekly MACD line is below its signal line since October 16, 2020. The distance between MACD and the signal line is low and getting smaller. 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 March 23, 2020 at 6631.42 and reached 12108.07 on November 9, 2020. ^IXIC gained -5476.65 points, or -82.59%, in 231 days. The chart has formed a Symmetric Triangle chart pattern. The price is near the trend resistance line (11848.98). The resistance is usually stronger when technical indicators are overbought. Use the following links to access Trend Support/Resistance Help, or use the Technical Stock Screener to see the list of stocks with price testing the trend resistance line in a short-term trend.

Daily Technical Indicators: [See ^IXIC daily technical indicators chart]
Daily Williams' Percentage Range is overbought. Use the Technical Stock Screener to see the list of stocks with overbought daily Williams' Percentage Range.

The daily MACD line is above its signal line since November 4, 2020. This is an indication that the short-term trend is up. The distance between MACD and the signal line is low and getting smaller. It indicates that the current short-term uptrend is getting weak.

Daily Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 71.59
Williams' Percentage Range (W%R) 16.70
Overbought
Lane's Stochastic (%D-Slow) 70.20
Greed/Fear Indicator (GFI) 75.01
Moving Average Converg./Diverg. (MACD) 118.57
Weekly Oscillators
Description Value Status Divergence Chart
Relative Strength Index (RSI) 59.73
Williams' Percentage Range (W%R) 11.20
Overbought
Lane's Stochastic (%D-Slow) 66.50
Greed/Fear Indicator (GFI) 68.84
Moving Average Converg./Diverg. (MACD) 575.15
Trading Signals
Description Value Chart
Upper Bollinger Band 12348.80
Price 11854.97
Daily Stochastic Crossing 11854.27
Weekly Trendline Resistance 11848.98
Weekly Stochastic Crossing 11687.02
Parabolic System 11582.85
20 Day Moving Average 11568.26
Weekly Trendline Support 11475.95
50 Day Moving Average 11387.61
Lower Bollinger Band 10977.24
Quarterly Trendline Resistance 10732.61
Sector and Industry
Description Name Rank
Sector
Industry
Daily Trend
Description Value
Direction Up
Chart Pattern Uptrend
Low 10519.49
Low Date 09/21/2020
High 12108.07
High Date 11/09/2020
Weekly Trend
Monthly Trend
Description Value
Direction Up
Chart Pattern Symmetric Triangle
Status Test Resistance
Resistance 11848.98
Support 11475.95
Low 6631.42
Low Date 03/23/2020
High 12108.07
High Date 11/09/2020
Description Value
Direction Up
Chart Pattern Uptrend
Status
Resistance
Support
Low 6190.17
Low Date 12/24/2018
High 12108.07
High Date 11/09/2020
Quarterly Trend
Yearly Trend
Description Value
Direction Up
Chart Pattern Broadening Ascending Wedge
Status Broken Resistance
Resistance 10732.61
Support 7169.56
Low 4209.76
Low Date 02/11/2016
High 12108.07
High Date 11/09/2020
Description Value
Direction Up
Chart Pattern Rising Channel
Status Broken Resistance
Resistance 7618.53
Support 6768.87
Low 1265.52
Low Date 03/09/2009
High 12108.07
High Date 11/09/2020
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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