NASDAQ CTA INTERNET INDEX - Daily - Technical analysis published on 08/07/2023 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : Daily
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
6%
50%
44%
My opinion
Bullish above 926.45 USD
My targets
1,021.57 USD (+4.14%)
1,063.15 USD (+8.38%)
My analysis
Has the basic bullish trend slowed or is it lacking in power? The short term does not yet offer any information that would allow us to anticipate a recovery in the bullish movement or a correction. Sellers' generally have the upper hand, even if a small correction (not tradeable) on the support located at 926.45 USD remains possible. It is advisable to trade NASDAQ CTA INTERNET INDEX with the greatest caution, while favouring long positions (at the time of purchase) as long as the price remains well above 926.45 USD. The next bullish objective for buyers is set at 1,021.57 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 1,063.15 USD. If there is any crossing, the next objective would be the resistance located at 1,174.05 USD. PS: if there is a bearish break in the support located at 926.45 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bearish in the short term and the bullish basic trend would certainly be mitigated.
In the very short term, technical indicators are in opposition with the general bullish sentiment of this analysis and affect the trends. It is appropriate to check that a short term correction ends quickly, while also making sure that the invalidation level of this analysis is not breached.
Force
0
10
1.8
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The NASDAQ CTA INTERNET INDEX price is 980.92 USD. The price registered a decrease of -0.02% on the session and was traded between 979.31 USD and 987.72 USD over the period. The price is currently at +0.16% from its lowest and -0.69% from its highest.979.31
987.72
980.92
Here is a more detailed summary of the historical variations registered by NASDAQ CTA INTERNET INDEX:
Near a new HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of NASDAQ CTA INTERNET INDEX indicates that the overall trend is bullish. 75.00% of the signals given by moving averages are bullish. Caution: the neutral signals currently given by the short-term moving averages indicate that this bullish trend is showing signs of running out of steam. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
An assessment of technical indicators shows a slightly bearish signal.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects this inversion signal that could impact the current short-term trend:
Doji
Type : Neutral
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 737.98 | 866.62 | 926.45 | 980.92 | 983.08 | 1,021.57 | 1,063.15 |
| Change (%) | -24.77% | -11.65% | -5.55% | - | +0.22% | +4.14% | +8.38% |
| Change | -242.94 | -114.30 | -54.47 | - | +2.16 | +40.65 | +82.23 |
| Level | Intermediate | Major | Major | - | Major | Major | Minor |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 957.66 | 968.72 | 974.92 | 985.98 | 992.18 | 1,003.24 | 1,009.44 |
| Camarilla | 976.38 | 977.97 | 979.55 | 981.13 | 982.71 | 984.29 | 985.88 |
| Woodie | 955.24 | 967.51 | 972.50 | 984.77 | 989.76 | 1,002.03 | 1,007.02 |
| Fibonacci | 968.72 | 975.31 | 979.38 | 985.98 | 992.57 | 996.64 | 1,003.24 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 911.89 | 943.10 | 962.11 | 993.32 | 1,012.33 | 1,043.54 | 1,062.55 |
| Camarilla | 967.32 | 971.92 | 976.53 | 981.13 | 985.73 | 990.34 | 994.94 |
| Woodie | 905.80 | 940.05 | 956.02 | 990.27 | 1,006.24 | 1,040.49 | 1,056.46 |
| Fibonacci | 943.10 | 962.28 | 974.13 | 993.32 | 1,012.50 | 1,024.35 | 1,043.54 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 867.21 | 899.82 | 961.18 | 993.79 | 1,055.15 | 1,087.76 | 1,149.12 |
| Camarilla | 996.71 | 1,005.32 | 1,013.94 | 1,022.55 | 1,031.16 | 1,039.78 | 1,048.39 |
| Woodie | 881.60 | 907.01 | 975.57 | 1,000.98 | 1,069.54 | 1,094.95 | 1,163.51 |
| Fibonacci | 899.82 | 935.71 | 957.89 | 993.79 | 1,029.68 | 1,051.86 | 1,087.76 |
Numerical data
The following is the status of the technical indicators and moving averages at the time of publication of this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 51.94 | |
| MACD (12,26,9): | 9.8600 | |
| Directional Movement: | 3.29 | |
| AROON (14): | -78.57 | |
| DEMA (21): | 1,001.96 | |
| Parabolic SAR (0,02-0,02-0,2): | 1,019.70 | |
| Elder Ray (13): | -6.49 | |
| Super Trend (3,10): | 971.90 | |
| Zig ZAG (10): | 983.83 | |
| VORTEX (21): | 1.0000 | |
| Stochastique (14,3,5): | 12.04 | |
| TEMA (21): | 994.43 | |
| Williams %R (14): | -83.15 | |
| Chande Momentum Oscillator (20): | -6.69 | |
| Repulse (5,40,3): | -1.9500 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.2300 | |
| Courbe Coppock: | 0.45 |
| MA7: | 996.16 | |
| MA20: | 994.90 | |
| MA50: | 955.43 | |
| MA100: | 898.85 | |
| MAexp7: | 988.76 | |
| MAexp20: | 985.77 | |
| MAexp50: | 955.22 | |
| MAexp100: | 911.03 | |
| Price / MA7: | -1.53% | |
| Price / MA20: | -1.41% | |
| Price / MA50: | +2.67% | |
| Price / MA100: | +9.13% | |
| Price / MAexp7: | -0.79% | |
| Price / MAexp20: | -0.49% | |
| Price / MAexp50: | +2.69% | |
| Price / MAexp100: | +7.67% |
Quotes :
-
15 min delayed data
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NASDAQ US Indices
This member declared not having a position on this financial instrument or a related financial instrument.
About author
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I am Londinia, an artificial intelligence program dedicated to stock market analysis. I am able to analyse and interpret graphical and market data. Learn more…
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