NASDAQ TELECOM INDEX - Daily - Technical analysis published on 09/28/2022 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
28%
50%
22%
My opinion
Bearish under 365.19 USD
My targets
326.76 USD (-4.75%)
298.54 USD (-12.97%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on NASDAQ TELECOM INDEX as long as the price remains well below 365.19 USD. The sellers' bearish objective is set at 326.76 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 298.54 USD. In case of crossing, the next objective would be the support located at 170.96 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
6.8
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The NASDAQ TELECOM INDEX price is 343.04 USD. The price registered an increase of +2.11% on the session and was traded between 337.90 USD and 343.96 USD over the period. The price is currently at +1.52% from its lowest and -0.27% from its highest.337.90
343.96
343.04
A bullish opening was detected by the Central Gaps scanner. Buyers are trying to impose a bullish momentum in the very short term.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new LOW record (1 year)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1st january)
Type : Bearish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this Daily chart of NASDAQ TELECOM INDEX indicates that the overall trend is strongly bearish. 92.86% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
In fact, of the 18 technical indicators analysed by Central Analyzer, 5 are bullish, 4 are neutral and 9 are bearish. Caution: the Central Indicators scanner currently detects an excess:
RSI indicator is oversold : under 30
Type : Neutral
Timeframe : Daily
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Daily
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 170.96 | 298.54 | 326.76 | 343.04 | 370.98 | 383.99 | 417.06 |
| Change (%) | -50.16% | -12.97% | -4.75% | - | +8.14% | +11.94% | +21.58% |
| Change | -172.08 | -44.50 | -16.28 | - | +27.94 | +40.95 | +74.02 |
| Level | Intermediate | Major | Minor | - | Intermediate | Intermediate | Intermediate |
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 | 322.87 | 328.30 | 332.12 | 337.55 | 341.37 | 346.80 | 350.62 |
| Camarilla | 333.41 | 334.25 | 335.10 | 335.95 | 336.80 | 337.65 | 338.49 |
| Woodie | 322.08 | 327.90 | 331.33 | 337.15 | 340.58 | 346.40 | 349.83 |
| Fibonacci | 328.30 | 331.83 | 334.01 | 337.55 | 341.08 | 343.26 | 346.80 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 298.16 | 318.05 | 330.11 | 350.00 | 362.06 | 381.95 | 394.01 |
| Camarilla | 333.38 | 336.31 | 339.24 | 342.17 | 345.10 | 348.03 | 350.96 |
| Woodie | 294.25 | 316.09 | 326.20 | 348.04 | 358.15 | 379.99 | 390.10 |
| Fibonacci | 318.05 | 330.26 | 337.80 | 350.00 | 362.21 | 369.75 | 381.95 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 344.20 | 365.19 | 376.05 | 397.04 | 407.90 | 428.89 | 439.75 |
| Camarilla | 378.14 | 381.06 | 383.98 | 386.90 | 389.82 | 392.74 | 395.66 |
| Woodie | 339.13 | 362.66 | 370.98 | 394.51 | 402.83 | 426.36 | 434.68 |
| Fibonacci | 365.19 | 377.36 | 384.88 | 397.04 | 409.21 | 416.73 | 428.89 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 28.94 | |
| MACD (12,26,9): | -14.4700 | |
| Directional Movement: | -32.85 | |
| AROON (14): | -78.57 | |
| DEMA (21): | 346.71 | |
| Parabolic SAR (0,02-0,02-0,2): | 358.02 | |
| Elder Ray (13): | -15.26 | |
| Super Trend (3,10): | 361.97 | |
| Zig ZAG (10): | 343.09 | |
| VORTEX (21): | 0.6700 | |
| Stochastique (14,3,5): | 7.69 | |
| TEMA (21): | 338.07 | |
| Williams %R (14): | -83.74 | |
| Chande Momentum Oscillator (20): | -46.63 | |
| Repulse (5,40,3): | -1.3800 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.4200 | |
| Courbe Coppock: | 18.88 |
| MA7: | 346.55 | |
| MA20: | 367.85 | |
| MA50: | 389.08 | |
| MA100: | 392.99 | |
| MAexp7: | 347.06 | |
| MAexp20: | 364.21 | |
| MAexp50: | 381.16 | |
| MAexp100: | 396.36 | |
| Price / MA7: | -1.01% | |
| Price / MA20: | -6.74% | |
| Price / MA50: | -11.83% | |
| Price / MA100: | -12.71% | |
| Price / MAexp7: | -1.16% | |
| Price / MAexp20: | -5.81% | |
| Price / MAexp50: | -10.00% | |
| Price / MAexp100: | -13.45% |
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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