NASDAQ TRANSPORTATION INDEX - Daily - Technical analysis published on 06/08/2023 (GMT)
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- Timeframe : Daily
- - Analysis generated on
- Status : TARGET REACHED
Summary of the analysis
Trends
Short term:
Strongly bullish
Underlying:
Strongly bullish
Technical indicators
83%
0%
17%
My opinion
Bullish above 5,669.45 USD
My targets
6,123.95 USD (+3.44%)
6,258.00 USD (+5.71%)
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 TRANSPORTATION INDEX as long as the price remains well above 5,669.45 USD. The buyers' bullish objective is set at 6,123.95 USD. A bullish break in this resistance would boost the bullish momentum. The buyers could then target the resistance located at 6,258.00 USD. If there is any crossing, the next objective would be the resistance located at 6,905.90 USD. However, beware of bullish excesses that could lead to a possible short-term correction; but this possible correction would not be tradeable.
Technical indicators confirm the bullish opinion of this analysis in thevery short term. However, be careful of excessive bullish movements. 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
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This analysis was given by Londinia. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
NASDAQ TRANSPORTATION INDEX rating 5,920.12 USD. The price is lower by -0.01% since the last closing and was between 5,873.65 USD and 5,930.65 USD. This implies that the price is at +0.79% from its lowest and at -0.18% from its highest.5,873.65
5,930.65
5,920.12
A bearish opening was detected by the Central Gaps scanner. Sellers are trying to impose a bearish trend in the very short term.
Bearish opening
Type : Bearish
Timeframe : Openning
Here is a more detailed summary of the historical variations registered by NASDAQ TRANSPORTATION INDEX:
New HIGH record (1 month)
Type : Bullish
Timeframe : Weekly
Technical
A technical analysis in Daily of this NASDAQ TRANSPORTATION INDEX chart shows a strongly bullish trend. The signals given by the moving averages are 85.71% bullish. This strong bullish trend is confirmed by the strong signals currently being given by short-term moving averages. There is no crossing of moving average by the price or crossing of moving averages between themselves.
In fact, according to the parameters integrated into the Central Analyzer system, 15 technical indicators out of 18 analysed are currently bullish. Caution: the Central Indicators scanner currently detects an excess:
CCI indicator is overbought : over 100
Type : Neutral
Timeframe : Daily
Previous candle closed over Bollinger bands
Type : Neutral
Timeframe : Daily
Williams %R indicator is overbought : over -20
Type : Neutral
Timeframe : Daily
No signals are given by Central Patterns, a market scanner specialised in chart patterns, resistances and supports.
The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.
ProTrendLines
S3
S2
S1
R1
R2
R3
Price
| S3 | S2 | S1 | Price | R1 | R2 | R3 | |
|---|---|---|---|---|---|---|---|
| ProTrendLines | 5,117.12 | 5,509.26 | 5,669.45 | 5,920.12 | 5,927.92 | 6,123.95 | 6,258.00 |
| Change (%) | -13.56% | -6.94% | -4.23% | - | +0.13% | +3.44% | +5.71% |
| Change | -803.00 | -410.86 | -250.67 | - | +7.80 | +203.83 | +337.88 |
| Level | Intermediate | Minor | Major | - | Minor | Minor | 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 | 5,740.48 | 5,779.20 | 5,849.81 | 5,888.53 | 5,959.14 | 5,997.86 | 6,068.47 |
| Camarilla | 5,890.35 | 5,900.38 | 5,910.40 | 5,920.42 | 5,930.44 | 5,940.46 | 5,950.49 |
| Woodie | 5,756.43 | 5,787.17 | 5,865.76 | 5,896.50 | 5,975.09 | 6,005.83 | 6,084.42 |
| Fibonacci | 5,779.20 | 5,820.96 | 5,846.77 | 5,888.53 | 5,930.29 | 5,956.10 | 5,997.86 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5,406.77 | 5,500.69 | 5,669.02 | 5,762.94 | 5,931.27 | 6,025.19 | 6,193.52 |
| Camarilla | 5,765.22 | 5,789.26 | 5,813.30 | 5,837.34 | 5,861.38 | 5,885.42 | 5,909.46 |
| Woodie | 5,443.97 | 5,519.29 | 5,706.22 | 5,781.54 | 5,968.47 | 6,043.79 | 6,230.72 |
| Fibonacci | 5,500.69 | 5,600.87 | 5,662.76 | 5,762.94 | 5,863.12 | 5,925.01 | 6,025.19 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5,293.83 | 5,444.22 | 5,527.63 | 5,678.02 | 5,761.43 | 5,911.82 | 5,995.23 |
| Camarilla | 5,546.74 | 5,568.17 | 5,589.60 | 5,611.03 | 5,632.46 | 5,653.89 | 5,675.33 |
| Woodie | 5,260.33 | 5,427.48 | 5,494.13 | 5,661.28 | 5,727.93 | 5,895.08 | 5,961.73 |
| Fibonacci | 5,444.22 | 5,533.54 | 5,588.71 | 5,678.02 | 5,767.34 | 5,822.51 | 5,911.82 |
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): | 61.00 | |
| MACD (12,26,9): | 37.3600 | |
| Directional Movement: | 7.81 | |
| AROON (14): | 42.86 | |
| DEMA (21): | 5,803.51 | |
| Parabolic SAR (0,02-0,02-0,2): | 5,622.73 | |
| Elder Ray (13): | 114.90 | |
| Super Trend (3,10): | 5,608.49 | |
| Zig ZAG (10): | 5,922.46 | |
| VORTEX (21): | 1.0100 | |
| Stochastique (14,3,5): | 93.21 | |
| TEMA (21): | 5,839.73 | |
| Williams %R (14): | -2.60 | |
| Chande Momentum Oscillator (20): | 200.94 | |
| Repulse (5,40,3): | 2.8900 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.0300 | |
| Courbe Coppock: | 3.01 |
| MA7: | 5,797.54 | |
| MA20: | 5,740.43 | |
| MA50: | 5,714.52 | |
| MA100: | 5,805.78 | |
| MAexp7: | 5,829.26 | |
| MAexp20: | 5,764.29 | |
| MAexp50: | 5,741.59 | |
| MAexp100: | 5,720.14 | |
| Price / MA7: | +2.11% | |
| Price / MA20: | +3.13% | |
| Price / MA50: | +3.60% | |
| Price / MA100: | +1.97% | |
| Price / MAexp7: | +1.56% | |
| Price / MAexp20: | +2.70% | |
| Price / MAexp50: | +3.11% | |
| Price / MAexp100: | +3.50% |
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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