NASDAQ TELECOM INDEX - Daily - Technical analysis published on 12/13/2019 (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
Court terme:
Neutral
De fond:
Bearish
Technical indicators
50%
17%
33%
My opinion
Bearish under 394.59 USD
My targets
364.62 USD (-2.72%)
348.76 USD (-6.95%)
My analysis
We are currently in a phase of short-term indecision. In a case like this, you could favour trades in the direction of the basic trend on NASDAQ TELECOM INDEX. As long as you are under the resistance located at 394.59 USD, traders with an aggressive trading strategy could consider a sale. A cross of the support located at 364.62 USD would be a signal of a reversal in the basic trend and the short-term trend could then quickly become bearish. Sellers would then use the next support located at 348.76 USD as an objective. Crossing it would then enable sellers to target 316.45 USD. If the resistance 394.59 USD were to be broken, this would simply be a sign of possible further short-term consolidation and trading against this trend would then perhaps be more risky.
In the very short term, technical indicators are in opposition with the general bearish 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
1.4
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This analysis was given by Vincent Launay. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The NASDAQ TELECOM INDEX price is 374.80 USD. On the day, this instrument gained +0.50% with the lowest point at 372.85 USD and the highest point at 375.60 USD. The deviation from the price is +0.52% for the low point and -0.21% for the high point.372.85
375.60
374.80
The Central Gaps scanner detects a bullish gap which is a sign that buyers have taken the lead in the very short term.
Opening Gap UP
Type : Bullish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by NASDAQ TELECOM INDEX:
Technical
Technical analysis of this Daily chart of NASDAQ TELECOM INDEX indicates that the overall trend is bearish. 71.43% of the signals given by moving averages are bearish. Caution: the neutral signals currently given by short-term moving averages show us that the global trend is losing momentum. An assessment of moving averages reveals several bullish signals that could impact this trend:
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : Daily
Bullish price crossover with Moving Average 20
Type : Bullish
Timeframe : Daily
Bullish price crossover with adaptative moving average 20
Type : Bullish
Timeframe : Daily
Technical indicators are slightly bullish. There is therefore considerable uncertainty about the continuation of the increase.
Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
MACD crosses UP its Moving Average
Type : Bullish
Timeframe : Daily
Parabolic SAR indicator bullish reversal
Type : Bullish
Timeframe : Daily
Price is back over the pivot point
Type : Bullish
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
Williams %R indicator is back over -50
Type : Bullish
Timeframe : Daily
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The presence of a bullish Japanese candlestick pattern detected by Central Candlesticks that could cause a very short term rebound was also detected:
Upside gap
Type : Bullish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 316.45 | 348.76 | 373.50 | 374.80 | 394.59 | 416.13 | 439.67 |
| Change (%) | -15.57% | -6.95% | -0.35% | - | +5.28% | +11.03% | +17.31% |
| Change | -58.35 | -26.04 | -1.30 | - | +19.79 | +41.33 | +64.87 |
| Level | Intermediate | Minor | Major | - | Major | Minor | Major |
Pivot points can also be used to set your price objectives. Here is the price situation in relation to pivot points:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 360.93 | 363.58 | 368.25 | 370.89 | 375.57 | 378.21 | 382.89 |
| Camarilla | 370.92 | 371.59 | 372.26 | 372.93 | 373.60 | 374.27 | 374.94 |
| Woodie | 361.95 | 364.08 | 369.27 | 371.40 | 376.59 | 378.72 | 383.91 |
| Fibonacci | 363.58 | 366.37 | 368.10 | 370.89 | 373.69 | 375.42 | 378.21 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 347.81 | 355.59 | 360.85 | 368.62 | 373.88 | 381.66 | 386.92 |
| Camarilla | 362.52 | 363.71 | 364.91 | 366.10 | 367.30 | 368.50 | 369.69 |
| Woodie | 346.55 | 354.96 | 359.59 | 367.99 | 372.62 | 381.03 | 385.66 |
| Fibonacci | 355.59 | 360.57 | 363.64 | 368.62 | 373.61 | 376.68 | 381.66 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 336.86 | 353.11 | 364.62 | 380.88 | 392.39 | 408.65 | 420.16 |
| Camarilla | 368.50 | 371.04 | 373.59 | 376.13 | 378.68 | 381.22 | 383.77 |
| Woodie | 334.48 | 351.93 | 362.25 | 379.69 | 390.02 | 407.46 | 417.78 |
| Fibonacci | 353.11 | 363.72 | 370.27 | 380.88 | 391.49 | 398.04 | 408.65 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 49.30 | |
| MACD (12,26,9): | -3.5800 | |
| Directional Movement: | -0.27 | |
| AROON (14): | -64.28 | |
| DEMA (21): | 367.13 | |
| Parabolic SAR (0,02-0,02-0,2): | 363.06 | |
| Elder Ray (13): | 3.69 | |
| Super Trend (3,10): | 376.15 | |
| Zig ZAG (10): | 373.01 | |
| VORTEX (21): | 0.9100 | |
| Stochastique (14,3,5): | 48.26 | |
| TEMA (21): | 366.20 | |
| Williams %R (14): | -33.75 | |
| Chande Momentum Oscillator (20): | -2.63 | |
| Repulse (5,40,3): | 0.8200 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.1600 | |
| Courbe Coppock: | 3.38 |
| MA7: | 367.06 | |
| MA20: | 371.00 | |
| MA50: | 378.67 | |
| MA100: | 387.29 | |
| MAexp7: | 369.38 | |
| MAexp20: | 372.10 | |
| MAexp50: | 378.44 | |
| MAexp100: | 386.36 | |
| Price / MA7: | +2.11% | |
| Price / MA20: | +1.02% | |
| Price / MA50: | -1.02% | |
| Price / MA100: | -3.22% | |
| Price / MAexp7: | +1.47% | |
| Price / MAexp20: | +0.73% | |
| Price / MAexp50: | -0.96% | |
| Price / MAexp100: | -2.99% |
This member declared not having a position on this financial instrument or a related financial instrument.
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