NASDAQ BIOTECHNOLOGY INDEX - Daily - Technical analysis published on 05/31/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
17%
72%
11%
My opinion
Bearish under 4,165.87 USD
My targets
3,886.97 USD (-3.99%)
3,779.37 USD (-6.65%)
My analysis
In the short term, we can see an acceleration in the bearish trend on NASDAQ BIOTECHNOLOGY INDEX, which is a positive signal for sellers. As long as the price remains above 4,165.87 USD, a sale could be considered. The first bearish objective is located at 3,886.97 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 3,779.37 USD as an objective. Crossing it would then enable sellers to target 3,630.92 USD. If the price were to return above 4,165.87 USD, it would probably only trigger a small rebound in the short term to give a better base for restarting. Trading this rebound may be risky.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
6.4
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The NASDAQ BIOTECHNOLOGY INDEX price is 4,048.70 USD. The price registered a decrease of -0.05% on the session with the lowest point at 4,048.61 USD and the highest point at 4,092.01 USD. The deviation from the price is +0.00% for the low point and -1.06% for the high point.4,048.61
4,092.01
4,048.70
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
So that you have an overall view of the price change, here is a table showing the variations over several periods:
Near a new HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of NASDAQ BIOTECHNOLOGY INDEX in Daily shows an overall bearish trend. 78.57% of the signals given by moving averages are bearish. This 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.
In fact, 13 technical indicators on 18 studied are currently bearish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : Daily
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : Daily
Price is back under the pivot point
Type : Bearish
Timeframe : Daily
The analysis of the price chart with Central Patterns scanners does not return any result.
The Central Candlesticks scanner, specialised in Japanese candlesticks, did not identify any signals.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 3,779.37 | 3,886.97 | 4,047.42 | 4,048.70 | 4,165.87 | 4,275.92 | 4,376.73 |
| Change (%) | -6.65% | -3.99% | -0.03% | - | +2.89% | +5.61% | +8.10% |
| Change | -269.33 | -161.73 | -1.28 | - | +117.17 | +227.22 | +328.03 |
| Level | Minor | Major | Intermediate | - | Major | Major | Minor |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3,968.33 | 3,998.05 | 4,024.37 | 4,054.09 | 4,080.41 | 4,110.13 | 4,136.45 |
| Camarilla | 4,035.29 | 4,040.43 | 4,045.56 | 4,050.70 | 4,055.84 | 4,060.97 | 4,066.11 |
| Woodie | 3,966.64 | 3,997.20 | 4,022.68 | 4,053.24 | 4,078.72 | 4,109.28 | 4,134.76 |
| Fibonacci | 3,998.05 | 4,019.45 | 4,032.68 | 4,054.09 | 4,075.49 | 4,088.72 | 4,110.13 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3,785.36 | 3,916.78 | 3,997.86 | 4,129.28 | 4,210.36 | 4,341.78 | 4,422.86 |
| Camarilla | 4,020.51 | 4,039.99 | 4,059.47 | 4,078.95 | 4,098.43 | 4,117.91 | 4,137.39 |
| Woodie | 3,760.20 | 3,904.20 | 3,972.70 | 4,116.70 | 4,185.20 | 4,329.20 | 4,397.70 |
| Fibonacci | 3,916.78 | 3,997.95 | 4,048.10 | 4,129.28 | 4,210.45 | 4,260.60 | 4,341.78 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3,921.33 | 4,011.27 | 4,099.30 | 4,189.24 | 4,277.27 | 4,367.21 | 4,455.24 |
| Camarilla | 4,138.38 | 4,154.69 | 4,171.01 | 4,187.32 | 4,203.63 | 4,219.95 | 4,236.26 |
| Woodie | 3,920.37 | 4,010.79 | 4,098.34 | 4,188.76 | 4,276.31 | 4,366.73 | 4,454.28 |
| Fibonacci | 4,011.27 | 4,079.26 | 4,121.26 | 4,189.24 | 4,257.23 | 4,299.23 | 4,367.21 |
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): | 37.91 | |
| MACD (12,26,9): | -28.2100 | |
| Directional Movement: | -12.83 | |
| AROON (14): | -71.43 | |
| DEMA (21): | 4,126.00 | |
| Parabolic SAR (0,02-0,02-0,2): | 4,243.30 | |
| Elder Ray (13): | -61.13 | |
| Super Trend (3,10): | 4,242.26 | |
| Zig ZAG (10): | 4,056.08 | |
| VORTEX (21): | 0.8100 | |
| Stochastique (14,3,5): | 11.72 | |
| TEMA (21): | 4,089.20 | |
| Williams %R (14): | -88.32 | |
| Chande Momentum Oscillator (20): | -149.40 | |
| Repulse (5,40,3): | -1.7300 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0200 | |
| Courbe Coppock: | 5.51 |
| MA7: | 4,120.85 | |
| MA20: | 4,177.87 | |
| MA50: | 4,160.97 | |
| MA100: | 4,182.97 | |
| MAexp7: | 4,102.29 | |
| MAexp20: | 4,152.26 | |
| MAexp50: | 4,164.33 | |
| MAexp100: | 4,157.63 | |
| Price / MA7: | -1.75% | |
| Price / MA20: | -3.09% | |
| Price / MA50: | -2.70% | |
| Price / MA100: | -3.21% | |
| Price / MAexp7: | -1.31% | |
| Price / MAexp20: | -2.49% | |
| Price / MAexp50: | -2.78% | |
| Price / MAexp100: | -2.62% |
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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