NASDAQ COMPOSITE INDEX - 1H - Technical analysis published on 08/16/2019 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Court terme:
Strongly bearish
De fond:
Strongly bearish
Technical indicators
28%
50%
22%
My opinion
Bearish under 7,833.97 USD
My targets
7,662.90 USD (-1.34%)
7,596.66 USD (-2.19%)
My analysis
The bearish trend is currently very strong for NASDAQ Composite Index. As long as the price remains below the resistance at 7,833.97 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 7,662.90 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 7,596.66 USD as an objective. Crossing it would then enable sellers to target 7,333.02 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.
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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
NASDAQ Composite Index rating 7,766.62 USD. The price registered a decrease of -0.09% on the session with the lowest point at 7,716.55 USD and the highest point at 7,805.93 USD. The deviation from the price is +0.65% for the low point and -0.50% for the high point.7,716.55
7,805.93
7,766.62
The Central Gaps scanner detects a bullish opening marking the presence of buyers ahead of sellers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bullish opening
Type : Bullish
Timeframe : Openning
A study of price movements over other periods shows the following variations:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of NASDAQ Composite Index in 1H shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
On the 18 technical indicators analysed, 5 are bullish, 4 are neutral and 9 are bearish. But beware of excesses. The Central Indicators scanner currently detects this:
MACD indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
RSI indicator: bullish divergence
Type : Bullish
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
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 | 7,333.02 | 7,596.66 | 7,662.90 | 7,766.62 | 7,833.97 | 7,891.39 | 8,109.69 |
| Change (%) | -5.58% | -2.19% | -1.34% | - | +0.87% | +1.61% | +4.42% |
| Change | -433.60 | -169.96 | -103.72 | - | +67.35 | +124.77 | +343.07 |
| Level | Intermediate | Major | Intermediate | - | Minor | 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 | 7,587.03 | 7,674.95 | 7,724.45 | 7,812.36 | 7,861.86 | 7,949.78 | 7,999.27 |
| Camarilla | 7,736.15 | 7,748.75 | 7,761.34 | 7,773.94 | 7,786.54 | 7,799.13 | 7,811.73 |
| Woodie | 7,567.82 | 7,665.35 | 7,705.23 | 7,802.76 | 7,842.65 | 7,940.17 | 7,980.06 |
| Fibonacci | 7,674.95 | 7,727.44 | 7,759.87 | 7,812.36 | 7,864.86 | 7,897.28 | 7,949.78 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7,356.10 | 7,509.50 | 7,734.32 | 7,887.72 | 8,112.54 | 8,265.94 | 8,490.76 |
| Camarilla | 7,855.13 | 7,889.80 | 7,924.47 | 7,959.14 | 7,993.81 | 8,028.48 | 8,063.15 |
| Woodie | 7,391.81 | 7,527.36 | 7,770.03 | 7,905.58 | 8,148.25 | 8,283.80 | 8,526.47 |
| Fibonacci | 7,509.50 | 7,653.98 | 7,743.24 | 7,887.72 | 8,032.20 | 8,121.46 | 8,265.94 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7,762.91 | 7,911.10 | 8,043.26 | 8,191.45 | 8,323.61 | 8,471.80 | 8,603.96 |
| Camarilla | 8,098.32 | 8,124.02 | 8,149.72 | 8,175.42 | 8,201.12 | 8,226.82 | 8,252.52 |
| Woodie | 7,754.90 | 7,907.09 | 8,035.25 | 8,187.44 | 8,315.60 | 8,467.79 | 8,595.95 |
| Fibonacci | 7,911.10 | 8,018.19 | 8,084.36 | 8,191.45 | 8,298.54 | 8,364.71 | 8,471.80 |
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): | 39.80 | |
| MACD (12,26,9): | -48.8700 | |
| Directional Movement: | -16.34 | |
| AROON (14): | -92.86 | |
| DEMA (21): | 7,764.78 | |
| Parabolic SAR (0,02-0,02-0,2): | 7,814.40 | |
| Elder Ray (13): | -25.41 | |
| Super Trend (3,10): | 7,884.81 | |
| Zig ZAG (10): | 7,766.62 | |
| VORTEX (21): | 1.0100 | |
| Stochastique (14,3,5): | 13.64 | |
| TEMA (21): | 7,733.76 | |
| Williams %R (14): | -72.75 | |
| Chande Momentum Oscillator (20): | -69.97 | |
| Repulse (5,40,3): | -0.0300 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0700 | |
| Courbe Coppock: | 5.05 |
| MA7: | 7,897.35 | |
| MA20: | 8,059.53 | |
| MA50: | 8,031.05 | |
| MA100: | 7,943.21 | |
| MAexp7: | 7,768.51 | |
| MAexp20: | 7,823.43 | |
| MAexp50: | 7,887.66 | |
| MAexp100: | 7,961.57 | |
| Price / MA7: | -1.66% | |
| Price / MA20: | -3.63% | |
| Price / MA50: | -3.29% | |
| Price / MA100: | -2.22% | |
| Price / MAexp7: | -0.02% | |
| Price / MAexp20: | -0.73% | |
| Price / MAexp50: | -1.53% | |
| Price / MAexp100: | -2.45% |
News
The last news published on NASDAQ Composite Index at the time of the generation of this analysis was as follows:
-
Nasdaq Composite officially entered bear market
-
Nasdaq Composite Courts Bear Market Territory
-
S&P 500 And Nasdaq Composite Close To Record Highs
-
Biotech Boosts S&P 500 And Nasdaq Composite
-
Nasdaq Composite Hits Record High
This member declared not having a position on this financial instrument or a related financial instrument.
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