NASDAQ TELECOM INDEX - 1H - Technical analysis published on 09/07/2023 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : INVALID
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Strongly bearish
Technical indicators
17%
56%
28%
My opinion
Bearish under 420.01 USD
My targets
417.00 USD (-0.46%)
415.36 USD (-0.85%)
My analysis
All elements being clearly bearish, it would be possible for traders to trade only short positions (for sale) on NASDAQ TELECOM INDEX as long as the price remains well below 420.01 USD. The sellers' bearish objective is set at 417.00 USD. A bearish break of this support would revive the bearish momentum. The sellers could then target the support located at 415.36 USD. In case of crossing, the next objective would be the support located at 411.69 USD. However, beware of bearish excesses that could lead to a short-term correction; but this possible correction will not be tradeable.
Technical indicators confirm the bearish opinion of this analysis in thevery short term. However, be careful of excessive bearish movements. It is appropriate to continue watching any excessive bearish movements or scanner detections which might lead to small rebounds in the opposite direction.
Force
0
10
6.6
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 Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
NASDAQ TELECOM INDEX rating 418.94 USD. The price registered a decrease of -0.02% on the session with the lowest point at 418.58 USD and the highest point at 422.92 USD. The deviation from the price is +0.09% for the low point and -0.94% for the high point.418.58
422.92
418.94
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
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 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 this 1H chart of NASDAQ TELECOM INDEX indicates that the overall trend is strongly bearish. 85.71% 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. The Central Indicators scanner does not detect any result on moving averages that would impact this trend.
The probability of a further decline is moderate given the direction of the technical indicators.
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
Price is back under the pivot point
Type : Bearish
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
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 | 411.69 | 415.36 | 417.00 | 418.94 | 420.01 | 422.61 | 424.68 |
| Change (%) | -1.73% | -0.85% | -0.46% | - | +0.26% | +0.88% | +1.37% |
| Change | -7.25 | -3.58 | -1.94 | - | +1.07 | +3.67 | +5.74 |
| Level | Major | Minor | Minor | - | Intermediate | 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 | 411.51 | 414.71 | 416.87 | 420.07 | 422.23 | 425.43 | 427.59 |
| Camarilla | 417.56 | 418.05 | 418.54 | 419.03 | 419.52 | 420.01 | 420.50 |
| Woodie | 410.99 | 414.45 | 416.35 | 419.81 | 421.71 | 425.17 | 427.07 |
| Fibonacci | 414.71 | 416.76 | 418.02 | 420.07 | 422.12 | 423.38 | 425.43 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 404.07 | 410.21 | 417.91 | 424.05 | 431.75 | 437.89 | 445.59 |
| Camarilla | 421.81 | 423.08 | 424.35 | 425.62 | 426.89 | 428.16 | 429.43 |
| Woodie | 404.86 | 410.60 | 418.70 | 424.44 | 432.54 | 438.28 | 446.38 |
| Fibonacci | 410.21 | 415.49 | 418.76 | 424.05 | 429.33 | 432.60 | 437.89 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 396.04 | 403.36 | 415.55 | 422.87 | 435.06 | 442.38 | 454.57 |
| Camarilla | 422.39 | 424.17 | 425.96 | 427.75 | 429.54 | 431.33 | 433.12 |
| Woodie | 398.49 | 404.58 | 418.00 | 424.09 | 437.51 | 443.60 | 457.02 |
| Fibonacci | 403.36 | 410.81 | 415.41 | 422.87 | 430.32 | 434.92 | 442.38 |
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): | 38.71 | |
| MACD (12,26,9): | -1.1600 | |
| Directional Movement: | -11.12 | |
| AROON (14): | -28.57 | |
| DEMA (21): | 419.57 | |
| Parabolic SAR (0,02-0,02-0,2): | 422.63 | |
| Elder Ray (13): | -1.54 | |
| Super Trend (3,10): | 423.51 | |
| Zig ZAG (10): | 418.96 | |
| VORTEX (21): | 0.8100 | |
| Stochastique (14,3,5): | 29.64 | |
| TEMA (21): | 418.74 | |
| Williams %R (14): | -82.72 | |
| Chande Momentum Oscillator (20): | -3.64 | |
| Repulse (5,40,3): | -0.4300 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | -0.0400 | |
| Courbe Coppock: | 0.67 |
| MA7: | 423.65 | |
| MA20: | 420.15 | |
| MA50: | 412.19 | |
| MA100: | 398.53 | |
| MAexp7: | 419.87 | |
| MAexp20: | 421.07 | |
| MAexp50: | 421.99 | |
| MAexp100: | 421.14 | |
| Price / MA7: | -1.11% | |
| Price / MA20: | -0.29% | |
| Price / MA50: | +1.64% | |
| Price / MA100: | +5.12% | |
| Price / MAexp7: | -0.22% | |
| Price / MAexp20: | -0.51% | |
| Price / MAexp50: | -0.72% | |
| Price / MAexp100: | -0.52% |
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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