NASDAQ TELECOM INDEX - Daily - Technical analysis published on 09/07/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Neutral
Underlying:
Bullish
Technical indicators
17%
39%
44%
My opinion
Bullish above 411.69 USD
My targets
427.98 USD (+2.16%)
439.67 USD (+4.95%)
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 above the support located at 411.69 USD, traders with an aggressive trading strategy could consider a purchase. A cross of the resistance located at 427.98 USD would be a signal that the basic trade will reverse and the short-term trend could then quickly become bullish. Buyers would then use the next resistance located at 439.67 USD as an objective. Crossing it would then enable buyers to target 462.15 USD. If the support 411.69 USD were to be broken, this would simply be a sign of a possible continuation of short-term consolidation and trading against the trend would then perhaps be more risky.
Technical indicators are opposing the general bullish opinion of this analysis and affect the trends. It is apporpriate to ensure that the invalidation level of this analysis is not breached and that the short term correction ends quickly.
Force
0
10
2.5
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
NASDAQ TELECOM INDEX rating 418.95 USD. The price is lower by -0.02% since the last closing and was between 418.58 USD and 422.92 USD. This implies that the price is at +0.09% from its lowest and at -0.94% from its highest.418.58
422.92
418.95
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 Daily chart of NASDAQ TELECOM INDEX indicates that the overall trend is bullish. The signals given by moving averages are 75.00% bullish. This bullish trend could slow down given the neutral signals currently being 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, only 7 technical indicators out of 18 studied are currently bearish. The Central Indicators scanner found this result concerning these indicators:
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The presence of a bearish pattern in Japanese candlesticks detected by Central Candlesticks that could cause a correction in the very short term was also detected:
Bearish engulfing lines
Type : Bearish
Timeframe : Daily
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 376.78 | 399.60 | 411.69 | 418.95 | 422.61 | 427.98 | 439.67 |
| Change (%) | -10.07% | -4.62% | -1.73% | - | +0.87% | +2.16% | +4.95% |
| Change | -42.17 | -19.35 | -7.26 | - | +3.66 | +9.03 | +20.72 |
| Level | Major | Major | Major | - | Major | Minor | Minor |
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 | 411.51 | 414.71 | 416.87 | 420.07 | 422.23 | 425.43 | 427.59 |
| Camarilla | 417.56 | 418.05 | 418.54 | 419.03 | 419.52 | 420.01 | 420.50 |
| Woodie | 410.99 | 414.45 | 416.35 | 419.81 | 421.71 | 425.17 | 427.07 |
| Fibonacci | 414.71 | 416.76 | 418.02 | 420.07 | 422.12 | 423.38 | 425.43 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 404.07 | 410.21 | 417.91 | 424.05 | 431.75 | 437.89 | 445.59 |
| Camarilla | 421.81 | 423.08 | 424.35 | 425.62 | 426.89 | 428.16 | 429.43 |
| Woodie | 404.86 | 410.60 | 418.70 | 424.44 | 432.54 | 438.28 | 446.38 |
| Fibonacci | 410.21 | 415.49 | 418.76 | 424.05 | 429.33 | 432.60 | 437.89 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 396.04 | 403.36 | 415.55 | 422.87 | 435.06 | 442.38 | 454.57 |
| Camarilla | 422.39 | 424.17 | 425.96 | 427.75 | 429.54 | 431.33 | 433.12 |
| Woodie | 398.49 | 404.58 | 418.00 | 424.09 | 437.51 | 443.60 | 457.02 |
| Fibonacci | 403.36 | 410.81 | 415.41 | 422.87 | 430.32 | 434.92 | 442.38 |
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): | 52.02 | |
| MACD (12,26,9): | 2.8000 | |
| Directional Movement: | 1.30 | |
| AROON (14): | 28.57 | |
| DEMA (21): | 423.55 | |
| Parabolic SAR (0,02-0,02-0,2): | 417.08 | |
| Elder Ray (13): | 0.11 | |
| Super Trend (3,10): | 415.38 | |
| Zig ZAG (10): | 418.97 | |
| VORTEX (21): | 0.9900 | |
| Stochastique (14,3,5): | 37.13 | |
| TEMA (21): | 422.32 | |
| Williams %R (14): | -64.04 | |
| Chande Momentum Oscillator (20): | 1.08 | |
| Repulse (5,40,3): | -1.8400 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | 0.1200 | |
| Courbe Coppock: | 1.71 |
| MA7: | 423.65 | |
| MA20: | 420.15 | |
| MA50: | 412.19 | |
| MA100: | 398.53 | |
| MAexp7: | 421.07 | |
| MAexp20: | 419.36 | |
| MAexp50: | 412.20 | |
| MAexp100: | 403.69 | |
| Price / MA7: | -1.11% | |
| Price / MA20: | -0.29% | |
| Price / MA50: | +1.64% | |
| Price / MA100: | +5.12% | |
| Price / MAexp7: | -0.50% | |
| Price / MAexp20: | -0.10% | |
| Price / MAexp50: | +1.64% | |
| Price / MAexp100: | +3.78% |
Quotes :
-
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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