NASDAQ BIOTECHNOLOGY INDEX - 1H - Technical analysis published on 02/22/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : TARGET REACHED
Analysis too old. There are no more charts available.
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
67%
17%
My opinion
Bearish under 4,165.87 USD
My targets
4,066.42 USD (-1.91%)
3,936.07 USD (-5.05%)
My analysis
NASDAQ BIOTECHNOLOGY INDEX is part of a very strong bearish trend. Traders may consider trading only short positions (for sale) as long as the price remains well below 4,165.87 USD. The next support located at 4,066.42 USD is the next bearish objective to target. A bearish break of this support would revive the bearish momentum. The bearish movement could then continue towards the next support located at 3,936.07 USD. Below this support, sellers could then target 3,801.33 USD. With the current pattern, you will need to monitor for possible bearish 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 bearish trend. Trying to profit from the purchase of these possible corrections may seem risky.
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
7.7
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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 BIOTECHNOLOGY INDEX rating is 4,145.42 USD. The price is lower by -0.06% since the last closing with the lowest point at 4,141.20 USD and the highest point at 4,163.66 USD. The deviation from the price is +0.10% for the low point and -0.44% for the high point.4,141.20
4,163.66
4,145.42
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
Here is a more detailed summary of the historical variations registered by NASDAQ BIOTECHNOLOGY INDEX:
New LOW record (1st january)
Type : Bearish
Timeframe : Weekly
New LOW record (1 month)
Type : Bearish
Timeframe : Weekly
Technical
Technical analysis of NASDAQ BIOTECHNOLOGY INDEX in 1H shows a overall strongly bearish trend. 92.86% of the signals given by moving averages are bearish. This strongly bearish trend is supported by the strong bearish signals given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
An assessment of technical indicators shows a bearish signal.
Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Williams %R indicator is oversold : under -80
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 1
Type : Neutral
Timeframe : Weekly
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
Central Candlesticks, the scanner specialised in Japanese candlesticks, detects these bearish signals that could support the hypothesis of a small drop in the very short term:
Bearish harami
Type : Bearish
Timeframe : 1 hour
Bearish harami cross
Type : Bearish
Timeframe : 1 hour
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 3,368.13 | 3,630.92 | 3,801.33 | 4,145.42 | 4,165.87 | 4,185.16 | 4,281.31 |
| Change (%) | -18.75% | -12.41% | -8.30% | - | +0.49% | +0.96% | +3.28% |
| Change | -777.29 | -514.50 | -344.09 | - | +20.45 | +39.74 | +135.89 |
| Level | Major | Intermediate | Intermediate | - | Major | Minor | Major |
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 | 4,031.01 | 4,089.50 | 4,118.77 | 4,177.26 | 4,206.53 | 4,265.02 | 4,294.29 |
| Camarilla | 4,123.90 | 4,131.94 | 4,139.99 | 4,148.03 | 4,156.08 | 4,164.12 | 4,172.16 |
| Woodie | 4,016.39 | 4,082.20 | 4,104.15 | 4,169.96 | 4,191.91 | 4,257.72 | 4,279.67 |
| Fibonacci | 4,089.50 | 4,123.03 | 4,143.74 | 4,177.26 | 4,210.79 | 4,231.50 | 4,265.02 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 4,066.42 | 4,120.48 | 4,186.72 | 4,240.78 | 4,307.02 | 4,361.08 | 4,427.32 |
| Camarilla | 4,219.88 | 4,230.91 | 4,241.93 | 4,252.96 | 4,263.99 | 4,275.02 | 4,286.04 |
| Woodie | 4,072.51 | 4,123.53 | 4,192.81 | 4,243.83 | 4,313.11 | 4,364.13 | 4,433.41 |
| Fibonacci | 4,120.48 | 4,166.44 | 4,194.83 | 4,240.78 | 4,286.74 | 4,315.13 | 4,361.08 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 3,936.07 | 4,045.86 | 4,203.29 | 4,313.08 | 4,470.51 | 4,580.30 | 4,737.73 |
| Camarilla | 4,287.24 | 4,311.73 | 4,336.23 | 4,360.72 | 4,385.22 | 4,409.71 | 4,434.21 |
| Woodie | 3,959.89 | 4,057.77 | 4,227.11 | 4,324.99 | 4,494.33 | 4,592.21 | 4,761.55 |
| Fibonacci | 4,045.86 | 4,147.94 | 4,211.00 | 4,313.08 | 4,415.16 | 4,478.22 | 4,580.30 |
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): | 33.58 | |
| MACD (12,26,9): | -21.0600 | |
| Directional Movement: | -22.52 | |
| AROON (14): | -64.29 | |
| DEMA (21): | 4,169.02 | |
| Parabolic SAR (0,02-0,02-0,2): | 4,224.08 | |
| Elder Ray (13): | -32.81 | |
| Super Trend (3,10): | 4,204.82 | |
| Zig ZAG (10): | 4,147.49 | |
| VORTEX (21): | 0.8600 | |
| Stochastique (14,3,5): | 4.50 | |
| TEMA (21): | 4,156.96 | |
| Williams %R (14): | -94.92 | |
| Chande Momentum Oscillator (20): | -69.55 | |
| Repulse (5,40,3): | -0.5100 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0500 | |
| Courbe Coppock: | 2.44 |
| MA7: | 4,219.66 | |
| MA20: | 4,284.19 | |
| MA50: | 4,274.43 | |
| MA100: | 4,175.10 | |
| MAexp7: | 4,166.48 | |
| MAexp20: | 4,193.88 | |
| MAexp50: | 4,222.14 | |
| MAexp100: | 4,249.10 | |
| Price / MA7: | -1.76% | |
| Price / MA20: | -3.24% | |
| Price / MA50: | -3.02% | |
| Price / MA100: | -0.71% | |
| Price / MAexp7: | -0.51% | |
| Price / MAexp20: | -1.16% | |
| Price / MAexp50: | -1.82% | |
| Price / MAexp100: | -2.44% |
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.
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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