NASDAQ BIOTECHNOLOGY INDEX - 1H - Technical analysis published on 10/17/2022 (GMT)
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- Timeframe : 1H
- - Analysis generated on
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Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
61%
6%
33%
My opinion
Bullish above 3,867.14 USD
My targets
3,937.52 USD (+0.58%)
3,997.39 USD (+2.11%)
My analysis
NASDAQ BIOTECHNOLOGY INDEX is part of a very strong bullish trend. Traders may consider trading only long positions (at the time of purchase) as long as the price remains well above 3,867.14 USD. The next resistance located at 3,937.52 USD is the next bullish objective to be reached. A bullish break in this resistance would boost the bullish momentum. The bullish movement could then continue towards the next resistance located at 3,997.39 USD. After this resistance, buyers could then target 4,103.83 USD. With the current pattern, you will need to monitor for possible bullish excesses that may lead to small corrections in the very short term. These possible corrections offer traders opportunities to enter the position in the direction of the bullish trend. Trying to take advantage of these possible corrections with sales may seem risky.
In the very short term, the general bullish sentiment is confirmed by technical indicators. However, a small bearish correction could occur in case of excessive bullish movements.
Force
0
10
7.9
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This analysis was given by shorr. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The NASDAQ BIOTECHNOLOGY INDEX price is 3,914.94 USD. On the day, this instrument gained +1.78% and was traded between 3,878.67 USD and 3,928.09 USD over the period. The price is currently at +0.94% from its lowest and -0.33% from its highest.3,878.67
3,928.09
3,914.94
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 1H shows a strongly overall bullish trend. The signals given by the moving averages are 92.86% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. The Central Indicators market scanner currently does not detect any result that concerns moving averages.
In fact, 11 technical indicators on 18 studied are currently bullish. The Central Indicators scanner found this result concerning these indicators:
Momentum indicator is back over 0
Type : Bullish
Timeframe : 1 hour
The analysis of the price chart with Central Patterns scanners does not return any result.
For a small rebound in the very short term, the Central Candlesticks scanner currently notes the presence of this bullish pattern in Japanese candlesticks:
Bullish harami
Type : Bullish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 3,727.02 | 3,830.63 | 3,867.14 | 3,914.94 | 3,937.52 | 3,997.39 | 4,103.83 |
| Change (%) | -4.80% | -2.15% | -1.22% | - | +0.58% | +2.11% | +4.82% |
| Change | -187.92 | -84.31 | -47.80 | - | +22.58 | +82.45 | +188.89 |
| Level | Major | Major | Intermediate | - | 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 | 3,695.91 | 3,769.39 | 3,807.98 | 3,881.46 | 3,920.05 | 3,993.53 | 4,032.12 |
| Camarilla | 3,815.74 | 3,826.01 | 3,836.29 | 3,846.56 | 3,856.83 | 3,867.11 | 3,877.38 |
| Woodie | 3,678.46 | 3,760.67 | 3,790.53 | 3,872.74 | 3,902.60 | 3,984.81 | 4,014.67 |
| Fibonacci | 3,769.39 | 3,812.20 | 3,838.65 | 3,881.46 | 3,924.27 | 3,950.72 | 3,993.53 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3,534.86 | 3,640.55 | 3,743.56 | 3,849.25 | 3,952.26 | 4,057.95 | 4,160.96 |
| Camarilla | 3,789.17 | 3,808.30 | 3,827.43 | 3,846.56 | 3,865.69 | 3,884.82 | 3,903.95 |
| Woodie | 3,533.51 | 3,639.88 | 3,742.21 | 3,848.58 | 3,950.91 | 4,057.28 | 4,159.61 |
| Fibonacci | 3,640.55 | 3,720.28 | 3,769.53 | 3,849.25 | 3,928.98 | 3,978.23 | 4,057.95 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3,085.52 | 3,356.77 | 3,562.19 | 3,833.44 | 4,038.86 | 4,310.11 | 4,515.53 |
| Camarilla | 3,636.52 | 3,680.21 | 3,723.91 | 3,767.60 | 3,811.30 | 3,854.99 | 3,898.68 |
| Woodie | 3,052.60 | 3,340.31 | 3,529.27 | 3,816.98 | 4,005.94 | 4,293.65 | 4,482.61 |
| Fibonacci | 3,356.77 | 3,538.86 | 3,651.36 | 3,833.44 | 4,015.53 | 4,128.03 | 4,310.11 |
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): | 58.32 | |
| MACD (12,26,9): | 18.7900 | |
| Directional Movement: | 5.46 | |
| AROON (14): | -42.86 | |
| DEMA (21): | 3,910.58 | |
| Parabolic SAR (0,02-0,02-0,2): | 3,940.17 | |
| Elder Ray (13): | 15.18 | |
| Super Trend (3,10): | 3,830.44 | |
| Zig ZAG (10): | 3,915.66 | |
| VORTEX (21): | 1.1100 | |
| Stochastique (14,3,5): | 66.17 | |
| TEMA (21): | 3,921.96 | |
| Williams %R (14): | -34.54 | |
| Chande Momentum Oscillator (20): | 24.47 | |
| Repulse (5,40,3): | 0.0700 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0600 | |
| Courbe Coppock: | 1.46 |
| MA7: | 3,844.31 | |
| MA20: | 3,814.14 | |
| MA50: | 3,939.98 | |
| MA100: | 3,869.88 | |
| MAexp7: | 3,908.56 | |
| MAexp20: | 3,887.48 | |
| MAexp50: | 3,865.06 | |
| MAexp100: | 3,852.38 | |
| Price / MA7: | +1.84% | |
| Price / MA20: | +2.64% | |
| Price / MA50: | -0.64% | |
| Price / MA100: | +1.16% | |
| Price / MAexp7: | +0.16% | |
| Price / MAexp20: | +0.71% | |
| Price / MAexp50: | +1.29% | |
| Price / MAexp100: | +1.62% |
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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