NASDAQ BIOTECHNOLOGY INDEX - 1H - Technical analysis published on 10/26/2021 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
89%
0%
11%
My opinion
Bullish above 4,970.06 USD
My targets
5,039.16 USD (+0.90%)
5,132.41 USD (+2.77%)
My analysis
All elements being clearly bullish, it would be possible for traders to trade only long positions (at the time of purchase) on NASDAQ BIOTECHNOLOGY INDEX as long as the price remains well above 4,970.06 USD. The buyers' bullish objective is set at 5,039.16 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 5,132.41 USD. If there is any crossing, the next objective would be the resistance located at 5,207.87 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
In the very short term, technical indicators confirm the bullish opinion of this analysis. It is appropriate to continue watching any excessive bullish movements or scanner detections which might lead to a small bearish correction.
Force
0
10
8.2
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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 BIOTECHNOLOGY INDEX rating is 4,994.03 USD. On the day, this instrument gained +1.10% and was between 4,924.27 USD and 4,999.10 USD. This implies that the price is at +1.42% from its lowest and at -0.10% from its highest.4,924.27
4,999.10
4,994.03
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 LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of NASDAQ BIOTECHNOLOGY INDEX indicates that the overall trend is strongly bullish. 85.71% of the signals given by moving averages are bullish. The overall trend is supported by the strong bullish signals from short-term moving averages. The Central Indicators scanner detects a bullish signal on moving averages that could impact this trend:
Bullish trend reversal : Moving Average 50
Type : Bullish
Timeframe : 1 hour
The probability of a further increase is high given the direction of the technical indicators.
But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : 1 hour
Pivot points : price is over resistance 1
Type : Neutral
Timeframe : Weekly
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
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 4,697.19 | 4,848.03 | 4,970.06 | 4,994.03 | 5,039.16 | 5,132.41 | 5,207.87 |
| Change (%) | -5.94% | -2.92% | -0.48% | - | +0.90% | +2.77% | +4.28% |
| Change | -296.84 | -146.00 | -23.97 | - | +45.13 | +138.38 | +213.84 |
| Level | Minor | Intermediate | Major | - | Minor | Intermediate | Intermediate |
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 | 4,871.00 | 4,897.64 | 4,945.83 | 4,972.47 | 5,020.66 | 5,047.30 | 5,095.49 |
| Camarilla | 4,973.45 | 4,980.31 | 4,987.17 | 4,994.03 | 5,000.89 | 5,007.75 | 5,014.61 |
| Woodie | 4,881.79 | 4,903.03 | 4,956.62 | 4,977.86 | 5,031.45 | 5,052.69 | 5,106.28 |
| Fibonacci | 4,897.64 | 4,926.22 | 4,943.88 | 4,972.47 | 5,001.05 | 5,018.71 | 5,047.30 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4,761.68 | 4,808.13 | 4,873.83 | 4,920.28 | 4,985.98 | 5,032.43 | 5,098.13 |
| Camarilla | 4,908.70 | 4,918.98 | 4,929.26 | 4,939.54 | 4,949.82 | 4,960.10 | 4,970.38 |
| Woodie | 4,771.32 | 4,812.94 | 4,883.47 | 4,925.09 | 4,995.62 | 5,037.24 | 5,107.77 |
| Fibonacci | 4,808.13 | 4,850.97 | 4,877.44 | 4,920.28 | 4,963.12 | 4,989.59 | 5,032.43 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4,558.30 | 4,813.56 | 4,949.33 | 5,204.59 | 5,340.36 | 5,595.62 | 5,731.39 |
| Camarilla | 4,977.58 | 5,013.42 | 5,049.27 | 5,085.11 | 5,120.95 | 5,156.80 | 5,192.64 |
| Woodie | 4,498.57 | 4,783.69 | 4,889.60 | 5,174.72 | 5,280.63 | 5,565.75 | 5,671.66 |
| Fibonacci | 4,813.56 | 4,962.93 | 5,055.21 | 5,204.59 | 5,353.96 | 5,446.24 | 5,595.62 |
Numerical data
The following is the status of technical indicators and moving averages registered at the time this technical analysis was created:
Technical indicators
Moving averages
| RSI (14): | 64.22 | |
| MACD (12,26,9): | 14.4300 | |
| Directional Movement: | 14.61 | |
| AROON (14): | 78.57 | |
| DEMA (21): | 4,971.02 | |
| Parabolic SAR (0,02-0,02-0,2): | 4,921.52 | |
| Elder Ray (13): | 30.07 | |
| Super Trend (3,10): | 4,938.72 | |
| Zig ZAG (10): | 4,994.03 | |
| VORTEX (21): | 1.1300 | |
| Stochastique (14,3,5): | 98.29 | |
| TEMA (21): | 4,981.96 | |
| Williams %R (14): | -4.49 | |
| Chande Momentum Oscillator (20): | 72.35 | |
| Repulse (5,40,3): | 0.5000 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0200 | |
| Courbe Coppock: | 1.34 |
| MA7: | 4,937.84 | |
| MA20: | 4,945.46 | |
| MA50: | 5,171.91 | |
| MA100: | 5,144.83 | |
| MAexp7: | 4,977.13 | |
| MAexp20: | 4,955.23 | |
| MAexp50: | 4,943.34 | |
| MAexp100: | 4,963.79 | |
| Price / MA7: | +1.14% | |
| Price / MA20: | +0.98% | |
| Price / MA50: | -3.44% | |
| Price / MA100: | -2.93% | |
| Price / MAexp7: | +0.34% | |
| Price / MAexp20: | +0.78% | |
| Price / MAexp50: | +1.03% | |
| Price / MAexp100: | +0.61% |
Quotes :
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15 min delayed data
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NASDAQ US Indices
This member declared not having a position on this financial instrument or a related financial instrument.
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