NASDAQ COMPOSITE INDEX - 1H - Technical analysis published on 08/29/2019 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Court terme:
Neutral
De fond:
Bearish
Technical indicators
56%
6%
39%
My opinion
Bearish under 7,891.39 USD
My targets
7,834.12 USD (-0.29%)
7,726.04 USD (-1.67%)
My analysis
Has the basic bearish 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 bearish trend or a rebound. Sellers” generally have the upper hand, even if a small correction (not tradeable) on the resistance located at 7,891.39 USD remains possible. It is advisable to trade NASDAQ Composite Index with the greatest caution, while favouring short positions (for sale) as long as the price remains well below 7,891.39 USD. The next bearish objective for sellers is set at 7,834.12 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 7,726.04 USD. In case of crossing, the next objective would be the support located at 7,662.90 USD. PS: if there is a bullish break in the resistance located at 7,891.39 USD we suggest that you produce a new automated technical analysis. In fact, conditions should have changed. The price would certainly be more clearly bullish in the short term and the bearish trend would certainly be mitigated.
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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 Composite Index rating is 7,856.88 USD. The price registered an increase of +0.38% on the session and was traded between 7,766.67 USD and 7,866.87 USD over the period. The price is currently at +1.16% from its lowest and -0.13% from its highest.7,766.67
7,866.87
7,856.88
The Central Gaps scanner detects a bullish opening marking the presence of sellers ahead of buyers at the opening but not sufficiently marked to allow the price to register a quotation gap.
Bearish opening
Type : Bearish
Timeframe : Openning
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of NASDAQ Composite Index in 1H shows an overall bearish trend. 67.86% 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. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 10 technical indicators on 18 studied are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
RSI indicator is back over 50
Type : Bullish
Timeframe : 1 hour
Price is back over the pivot point
Type : Bullish
Timeframe : 1 hour
Price is back under the pivot point
Type : Bearish
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 | 7,662.90 | 7,726.04 | 7,834.12 | 7,856.88 | 7,891.39 | 8,046.09 | 8,109.69 |
| Change (%) | -2.47% | -1.67% | -0.29% | - | +0.44% | +2.41% | +3.22% |
| Change | -193.98 | -130.84 | -22.76 | - | +34.51 | +189.21 | +252.81 |
| Level | Intermediate | Major | Minor | - | Intermediate | Intermediate | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7,654.16 | 7,724.67 | 7,775.81 | 7,846.32 | 7,897.46 | 7,967.97 | 8,019.11 |
| Camarilla | 7,793.49 | 7,804.64 | 7,815.80 | 7,826.95 | 7,838.10 | 7,849.25 | 7,860.40 |
| Woodie | 7,644.47 | 7,719.82 | 7,766.12 | 7,841.48 | 7,887.77 | 7,963.13 | 8,009.42 |
| Fibonacci | 7,724.67 | 7,771.14 | 7,799.85 | 7,846.32 | 7,892.79 | 7,921.50 | 7,967.97 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 7,321.02 | 7,525.90 | 7,638.83 | 7,843.71 | 7,956.64 | 8,161.52 | 8,274.45 |
| Camarilla | 7,664.37 | 7,693.50 | 7,722.63 | 7,751.77 | 7,780.90 | 7,810.03 | 7,839.16 |
| Woodie | 7,275.05 | 7,502.91 | 7,592.86 | 7,820.72 | 7,910.67 | 8,138.53 | 8,228.48 |
| Fibonacci | 7,525.90 | 7,647.30 | 7,722.30 | 7,843.71 | 7,965.11 | 8,040.11 | 8,161.52 |
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): | 49.59 | |
| MACD (12,26,9): | -10.9500 | |
| Directional Movement: | -4.84 | |
| AROON (14): | -50.00 | |
| DEMA (21): | 7,832.33 | |
| Parabolic SAR (0,02-0,02-0,2): | 7,899.69 | |
| Elder Ray (13): | 9.54 | |
| Super Trend (3,10): | 7,909.31 | |
| Zig ZAG (10): | 7,856.88 | |
| VORTEX (21): | 1.0400 | |
| Stochastique (14,3,5): | 58.67 | |
| TEMA (21): | 7,840.73 | |
| Williams %R (14): | -39.92 | |
| Chande Momentum Oscillator (20): | -15.70 | |
| Repulse (5,40,3): | 0.2800 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0400 | |
| Courbe Coppock: | 0.24 |
| MA7: | 7,892.78 | |
| MA20: | 7,905.21 | |
| MA50: | 8,049.44 | |
| MA100: | 7,953.32 | |
| MAexp7: | 7,849.89 | |
| MAexp20: | 7,851.70 | |
| MAexp50: | 7,880.38 | |
| MAexp100: | 7,916.19 | |
| Price / MA7: | -0.45% | |
| Price / MA20: | -0.61% | |
| Price / MA50: | -2.39% | |
| Price / MA100: | -1.21% | |
| Price / MAexp7: | +0.09% | |
| Price / MAexp20: | +0.07% | |
| Price / MAexp50: | -0.30% | |
| Price / MAexp100: | -0.75% |
News
The latest news and videos published on NASDAQ Composite Index at the time of the analysis were 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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