NASDAQ COMPUTER INDEX - 1H - Technical analysis published on 02/28/2023 (GMT)
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I am pleased to note that the threshold for invalidation has been maintained for 20 Candlesticks.
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Bearish
Underlying:
Strongly bearish
Technical indicators
56%
6%
39%
My opinion
Bearish under 8,849.28 USD
My targets
8,587.44 USD (-1.70%)
8,319.12 USD (-4.77%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on NASDAQ COMPUTER INDEX as long as the price remains well below 8,849.28 USD. The next bearish objective for sellers is set at 8,587.44 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 8,319.12 USD. If there is any crossing, the next objective would be the support located at 8,210.11 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 over sold items that could be a sign of a short-term correction.
Technical indicators are opposing the general bearish 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
3
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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 COMPUTER INDEX price is 8,736.19 USD. On the day, this instrument lost -0.01% and was between 8,704.37 USD and 8,778.79 USD. This implies that the price is at +0.37% from its lowest and at -0.49% from its highest.8,704.37
8,778.79
8,736.19
The Central Gaps scanner detects a bearish gap which is a sign that the sellers have taken the lead in the very short term.
Opening Gap DOWN
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
A technical analysis in 1H of this NASDAQ COMPUTER INDEX chart shows a sharp bearish trend. 85.71% of the signals given by moving averages are bearish. This strongly bearish trend is showing signs of slowing down given the slightly bearish signals given by short-term moving averages. An assessment of moving averages reveals a bullish signal that could impact this trend:
Bullish trend reversal : adaptative moving average 20
Type : Bullish
Timeframe : 1 hour
In fact, 10 technical indicators on 18 studied are currently bullish. Central Indicators, the scanner specialised in technical indicators, has identified this signal:
Price is back over the pivot point
Type : Bullish
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
The Central Candlesticks scanner currently notes the presence of this pattern in Japanese candlesticks that could mark the end of the short-term trend currently underway:
Doji
Type : Neutral
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 8,042.62 | 8,210.11 | 8,587.44 | 8,736.19 | 8,969.22 | 9,362.82 | 9,666.76 |
| Change (%) | -7.94% | -6.02% | -1.70% | - | +2.67% | +7.17% | +10.65% |
| Change | -693.57 | -526.08 | -148.75 | - | +233.03 | +626.63 | +930.57 |
| Level | Minor | Major | Major | - | Major | Major | Intermediate |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8,603.19 | 8,663.06 | 8,700.01 | 8,759.88 | 8,796.83 | 8,856.70 | 8,893.65 |
| Camarilla | 8,710.33 | 8,719.20 | 8,728.08 | 8,736.95 | 8,745.83 | 8,754.70 | 8,763.58 |
| Woodie | 8,591.72 | 8,657.33 | 8,688.54 | 8,754.15 | 8,785.36 | 8,850.97 | 8,882.18 |
| Fibonacci | 8,663.06 | 8,700.05 | 8,722.90 | 8,759.88 | 8,796.87 | 8,819.72 | 8,856.70 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 8,319.12 | 8,479.10 | 8,584.20 | 8,744.18 | 8,849.28 | 9,009.26 | 9,114.36 |
| Camarilla | 8,616.41 | 8,640.71 | 8,665.01 | 8,689.31 | 8,713.61 | 8,737.91 | 8,762.21 |
| Woodie | 8,291.69 | 8,465.38 | 8,556.77 | 8,730.46 | 8,821.85 | 8,995.54 | 9,086.93 |
| Fibonacci | 8,479.10 | 8,580.36 | 8,642.92 | 8,744.18 | 8,845.44 | 8,908.00 | 9,009.26 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 6,572.74 | 7,047.37 | 7,864.40 | 8,339.03 | 9,156.06 | 9,630.69 | 10,447.72 |
| Camarilla | 8,326.23 | 8,444.64 | 8,563.04 | 8,681.44 | 8,799.84 | 8,918.24 | 9,036.65 |
| Woodie | 6,743.95 | 7,132.97 | 8,035.61 | 8,424.63 | 9,327.27 | 9,716.29 | 10,618.93 |
| Fibonacci | 7,047.37 | 7,540.78 | 7,845.61 | 8,339.03 | 8,832.44 | 9,137.27 | 9,630.69 |
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): | 48.70 | |
| MACD (12,26,9): | -16.7300 | |
| Directional Movement: | -2.53 | |
| AROON (14): | 42.86 | |
| DEMA (21): | 8,723.24 | |
| Parabolic SAR (0,02-0,02-0,2): | 8,662.90 | |
| Elder Ray (13): | 15.24 | |
| Super Trend (3,10): | 8,859.87 | |
| Zig ZAG (10): | 8,749.13 | |
| VORTEX (21): | 1.0000 | |
| Stochastique (14,3,5): | 60.81 | |
| TEMA (21): | 8,754.57 | |
| Williams %R (14): | -32.52 | |
| Chande Momentum Oscillator (20): | 104.04 | |
| Repulse (5,40,3): | 0.2600 | |
| ROCnROLL: | -1 | |
| TRIX (15,9): | -0.0500 | |
| Courbe Coppock: | 0.51 |
| MA7: | 8,779.68 | |
| MA20: | 8,993.72 | |
| MA50: | 8,437.84 | |
| MA100: | 8,279.76 | |
| MAexp7: | 8,751.18 | |
| MAexp20: | 8,754.05 | |
| MAexp50: | 8,823.43 | |
| MAexp100: | 8,861.42 | |
| Price / MA7: | -0.50% | |
| Price / MA20: | -2.86% | |
| Price / MA50: | +3.54% | |
| Price / MA100: | +5.51% | |
| Price / MAexp7: | -0.17% | |
| Price / MAexp20: | -0.20% | |
| Price / MAexp50: | -0.99% | |
| Price / MAexp100: | -1.41% |
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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