NASDAQ COMPOSITE INDEX - 1H - Technical analysis published on 12/29/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Slightly bullish
Technical indicators
11%
61%
28%
My opinion
Bearish under 15,409.08 USD
My targets
14,776.29 USD (-1.31%)
14,358.00 USD (-4.11%)
My analysis
The current short-term bearish trend is expected to quickly reset the neutral or bearish trend. To avoid contradicting the short term, it would be possible to favour short positions (for sale) for NASDAQ COMPOSITE INDEX as long as the price remains well below 15,409.08 USD. The next bearish objective for sellers is set at 14,776.29 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 14,358.00 USD. In case of crossing, the next objective would be the support located at 14,059.12 USD. As the basic trend is not clearly displayed, attention should be paid to the price response to the support located at 14,776.29 USD. With this support, against the trend traders who want to buy NASDAQ COMPOSITE INDEX on a buy signal from their trading strategy should not hesitate to act.
In the very short term, the general bearish sentiment is confirmed by technical indicators. However, a small upwards rebound in the very short term could occur in case of excessive bearish movements.
Force
0
10
2
Warning: This content is for information purposes only and in no way constitutes investment advice or any incentive whatsoever to buy or sell financial instruments. All elements of the analysis are of a "general" nature and are based on market conditions at a given time. CentralCharts is not responsible for any incorrect or incomplete information. Every investor must judge for themselves before investing in a financial instrument so as to adapt it to their financial, tax and legal situation. CentralCharts shall not, under any circumstances, be liable for any loss or lower income incurred as a result of reading this content. Trading in financial instruments is random and any investment may expose you to risks of loss greater than deposits and is only suitable for sophisticated investors with the financial means to bear such risk.
This analysis was given by Choochoo. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The NASDAQ COMPOSITE INDEX price is 14,972.63 USD. The price registered a decrease of -0.81% on the session and was between 14,955.37 USD and 15,111.41 USD. This implies that the price is at +0.12% from its lowest and at -0.92% from its highest.14,955.37
15,111.41
14,972.63
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 NASDAQ COMPOSITE INDEX in 1H shows an overall slightly bullish trend. 57.14% of the signals given by moving averages are bullish. Caution: the strong bearish signals currently being given by short-term moving averages indicate that this slightly bullish trend could be reversed. An assessment of moving averages reveals a bearish signal that could impact this trend:
Bearish trend reversal : adaptative moving average 50
Type : Bearish
Timeframe : 1 hour
In fact, according to the parameters integrated into the Central Analyzer system, 11 technical indicators out of 18 analysed are currently bearish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : 1 hour
Central Patterns, the scanner specializing in chart patterns, did not identify any signals.
No result was found by the Central Candlesticks scanner on Japanese candlesticks.
ProTrendLines
S3
S2
S1
R1
R2
Price
S3 | S2 | S1 | Price | R1 | R2 | |
---|---|---|---|---|---|---|
ProTrendLines | 14,059.12 | 14,358.00 | 14,776.29 | 14,972.63 | 15,003.22 | 16,057.40 |
Change (%) | -6.10% | -4.11% | -1.31% | - | +0.20% | +7.25% |
Change | -913.51 | -614.63 | -196.34 | - | +30.59 | +1,084.77 |
Level | Minor | Major | Minor | - | Major | Major |
To determine price objectives, it is also possible to use the pivot points. Here is the price position in relation to pivot points:
Daily
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 15,008.70 | 15,047.96 | 15,071.55 | 15,110.81 | 15,134.40 | 15,173.66 | 15,197.25 |
Camarilla | 15,077.86 | 15,083.62 | 15,089.38 | 15,095.14 | 15,100.90 | 15,106.66 | 15,112.42 |
Woodie | 15,000.87 | 15,044.04 | 15,063.72 | 15,106.89 | 15,126.57 | 15,169.74 | 15,189.42 |
Fibonacci | 15,047.96 | 15,071.97 | 15,086.80 | 15,110.81 | 15,134.82 | 15,149.65 | 15,173.66 |
Weekly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 14,530.08 | 14,653.18 | 14,823.08 | 14,946.18 | 15,116.08 | 15,239.18 | 15,409.08 |
Camarilla | 14,912.40 | 14,939.25 | 14,966.11 | 14,992.97 | 15,019.83 | 15,046.69 | 15,073.55 |
Woodie | 14,553.47 | 14,664.88 | 14,846.47 | 14,957.88 | 15,139.47 | 15,250.88 | 15,432.47 |
Fibonacci | 14,653.18 | 14,765.11 | 14,834.26 | 14,946.18 | 15,058.11 | 15,127.26 | 15,239.18 |
Monthly
Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
---|---|---|---|---|---|---|---|
Standard | 11,711.85 | 12,293.53 | 13,259.87 | 13,841.55 | 14,807.89 | 15,389.57 | 16,355.91 |
Camarilla | 13,800.52 | 13,942.42 | 14,084.32 | 14,226.22 | 14,368.12 | 14,510.02 | 14,651.93 |
Woodie | 11,904.19 | 12,389.70 | 13,452.21 | 13,937.72 | 15,000.23 | 15,485.74 | 16,548.25 |
Fibonacci | 12,293.53 | 12,884.87 | 13,250.20 | 13,841.55 | 14,432.89 | 14,798.22 | 15,389.57 |
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): | 38.10 | |
MACD (12,26,9): | 4.9000 | |
Directional Movement: | -20.48 | |
AROON (14): | -57.15 | |
DEMA (21): | 15,079.35 | |
Parabolic SAR (0,02-0,02-0,2): | 15,123.74 | |
Elder Ray (13): | -73.37 | |
Super Trend (3,10): | 15,103.72 | |
Zig ZAG (10): | 14,979.46 | |
VORTEX (21): | 0.8600 | |
Stochastique (14,3,5): | 11.25 | |
TEMA (21): | 15,046.55 | |
Williams %R (14): | -88.54 | |
Chande Momentum Oscillator (20): | -97.38 | |
Repulse (5,40,3): | -0.5600 | |
ROCnROLL: | -1 | |
TRIX (15,9): | 0.0200 | |
Courbe Coppock: | 0.33 |
MA7: | 14,997.55 | |
MA20: | 14,689.43 | |
MA50: | 14,039.83 | |
MA100: | 13,801.56 | |
MAexp7: | 15,040.86 | |
MAexp20: | 15,062.64 | |
MAexp50: | 14,998.02 | |
MAexp100: | 14,839.78 | |
Price / MA7: | -0.17% | |
Price / MA20: | +1.93% | |
Price / MA50: | +6.64% | |
Price / MA100: | +8.49% | |
Price / MAexp7: | -0.45% | |
Price / MAexp20: | -0.60% | |
Price / MAexp50: | -0.17% | |
Price / MAexp100: | +0.90% |
Quotes :
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15 min delayed data
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NASDAQ US Indices
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.
About author
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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