NASDAQ TRANSPORTATION INDEX - 1H - Technical analysis published on 07/07/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Bullish
Underlying:
Strongly bullish
Technical indicators
78%
6%
17%
My opinion
Bullish above 6,258.00 USD
My targets
6,393.41 USD (+0.29%)
6,645.28 USD (+4.24%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on NASDAQ TRANSPORTATION INDEX as long as the price remains well above 6,258.00 USD. The buyers' bullish objective is set at 6,393.41 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 6,645.28 USD. If there is any crossing, the next objective would be the resistance located at 6,905.90 USD. Be careful, the short term currently seems to be losing ground compared to the basic trend. Longer time units should be analysed to identify possible overbought items that could be a sign of a possible short-term correction.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
7.7
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 TRANSPORTATION INDEX price is 6,375.00 USD. On the day, this instrument gained +1.93% and was between 6,264.74 USD and 6,377.52 USD. This implies that the price is at +1.76% from its lowest and at -0.04% from its highest.6,264.74
6,377.52
6,375.00
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 HIGH record (1 year)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1st january)
Type : Bullish
Timeframe : Weekly
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of NASDAQ TRANSPORTATION INDEX indicates that the overall trend is strongly bullish. The signals given by moving averages are 89.29% bullish. This strongly bullish trend seems to be running out of steam given the signals being given by short-term moving averages. The Central Indicators market scanner is currently detecting a bearish signal that could impact this trend:
Moving Average bearish crossovers : AMA20 & AMA50
Type : Bearish
Timeframe : 1 hour
In fact, according to the parameters integrated into the Central Analyzer system, 14 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 3
Type : Neutral
Timeframe : 1 hour
MACD indicator is back over 0
Type : Bullish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
For a small setback in the very short term, the Central Candlesticks scanner currently notes the presence of this bearish pattern in Japanese candlesticks:
Bearish harami
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
Price
| S3 | S2 | S1 | Price | R1 | R2 | |
|---|---|---|---|---|---|---|
| ProTrendLines | 5,966.95 | 6,127.72 | 6,258.00 | 6,375.00 | 6,393.41 | 6,905.90 |
| Change (%) | -6.40% | -3.88% | -1.84% | - | +0.29% | +8.33% |
| Change | -408.05 | -247.28 | -117.00 | - | +18.41 | +530.90 |
| Level | Major | Major | Major | - | Intermediate | Major |
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 | 6,138.90 | 6,173.71 | 6,213.99 | 6,248.80 | 6,289.08 | 6,323.89 | 6,364.17 |
| Camarilla | 6,233.63 | 6,240.51 | 6,247.40 | 6,254.28 | 6,261.16 | 6,268.05 | 6,274.93 |
| Woodie | 6,141.65 | 6,175.08 | 6,216.74 | 6,250.17 | 6,291.83 | 6,325.26 | 6,366.92 |
| Fibonacci | 6,173.71 | 6,202.39 | 6,220.11 | 6,248.80 | 6,277.48 | 6,295.20 | 6,323.89 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5,712.42 | 5,853.92 | 6,108.10 | 6,249.60 | 6,503.78 | 6,645.28 | 6,899.46 |
| Camarilla | 6,253.46 | 6,289.73 | 6,326.00 | 6,362.27 | 6,398.54 | 6,434.81 | 6,471.08 |
| Woodie | 5,768.75 | 5,882.09 | 6,164.43 | 6,277.77 | 6,560.11 | 6,673.45 | 6,955.79 |
| Fibonacci | 5,853.92 | 6,005.07 | 6,098.45 | 6,249.60 | 6,400.75 | 6,494.13 | 6,645.28 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5,073.63 | 5,342.90 | 5,852.58 | 6,121.85 | 6,631.53 | 6,900.80 | 7,410.48 |
| Camarilla | 6,148.06 | 6,219.46 | 6,290.87 | 6,362.27 | 6,433.67 | 6,505.08 | 6,576.48 |
| Woodie | 5,193.85 | 5,403.00 | 5,972.80 | 6,181.95 | 6,751.75 | 6,960.90 | 7,530.70 |
| Fibonacci | 5,342.90 | 5,640.46 | 5,824.29 | 6,121.85 | 6,419.41 | 6,603.24 | 6,900.80 |
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): | 63.82 | |
| MACD (12,26,9): | 5.6400 | |
| Directional Movement: | 11.58 | |
| AROON (14): | 64.29 | |
| DEMA (21): | 6,313.55 | |
| Parabolic SAR (0,02-0,02-0,2): | 6,224.27 | |
| Elder Ray (13): | 52.48 | |
| Super Trend (3,10): | 6,275.27 | |
| Zig ZAG (10): | 6,371.11 | |
| VORTEX (21): | 1.0800 | |
| Stochastique (14,3,5): | 95.75 | |
| TEMA (21): | 6,301.48 | |
| Williams %R (14): | 0.00 | |
| Chande Momentum Oscillator (20): | 50.69 | |
| Repulse (5,40,3): | 1.3000 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | -0.0100 | |
| Courbe Coppock: | 1.14 |
| MA7: | 6,332.15 | |
| MA20: | 6,137.20 | |
| MA50: | 5,888.89 | |
| MA100: | 5,837.79 | |
| MAexp7: | 6,321.74 | |
| MAexp20: | 6,306.67 | |
| MAexp50: | 6,272.62 | |
| MAexp100: | 6,188.25 | |
| Price / MA7: | +0.68% | |
| Price / MA20: | +3.87% | |
| Price / MA50: | +8.25% | |
| Price / MA100: | +9.20% | |
| Price / MAexp7: | +0.84% | |
| Price / MAexp20: | +1.08% | |
| Price / MAexp50: | +1.63% | |
| Price / MAexp100: | +3.02% |
Quotes :
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15 min delayed data
-
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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