NASDAQ TRANSPORTATION INDEX - Daily - Technical analysis published on 06/22/2023 (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
72%
0%
28%
My opinion
Bullish above 5,911.82 USD
My targets
6,123.95 USD (+1.06%)
6,258.00 USD (+3.27%)
My analysis
NASDAQ TRANSPORTATION 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 5,911.82 USD. The next resistance located at 6,123.95 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 6,258.00 USD. After this resistance, buyers could then target 6,905.90 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.
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
The NASDAQ TRANSPORTATION INDEX price is 6,059.93 USD. The price is lower by -0.03% since the last closing and was between 6,029.31 USD and 6,079.92 USD. This implies that the price is at +0.51% from its lowest and at -0.33% from its highest.6,029.31
6,079.92
6,059.93
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 Daily chart of NASDAQ TRANSPORTATION INDEX indicates that the overall trend is strongly bullish. The signals given by the moving averages are 89.29% bullish. This strong bullish trend is confirmed by the strong signals currently being 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 increase is high given the direction of the technical indicators.
The Central Indicators scanner found no further results concerning independent technical indicators.
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 | 5,099.44 | 5,322.63 | 5,669.45 | 6,059.93 | 6,123.95 | 6,258.00 | 6,905.90 |
| Change (%) | -15.85% | -12.17% | -6.44% | - | +1.06% | +3.27% | +13.96% |
| Change | -960.49 | -737.30 | -390.48 | - | +64.02 | +198.07 | +845.97 |
| Level | Minor | Minor | Major | - | Intermediate | Major | Major |
Attention could also be paid to pivot points to set price objectives:
Daily
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5,884.81 | 5,924.37 | 5,993.12 | 6,032.68 | 6,101.43 | 6,140.99 | 6,209.74 |
| Camarilla | 6,032.09 | 6,042.01 | 6,051.94 | 6,061.87 | 6,071.80 | 6,081.73 | 6,091.66 |
| Woodie | 5,899.41 | 5,931.67 | 6,007.72 | 6,039.98 | 6,116.03 | 6,148.29 | 6,224.34 |
| Fibonacci | 5,924.37 | 5,965.74 | 5,991.31 | 6,032.68 | 6,074.05 | 6,099.62 | 6,140.99 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 5,597.83 | 5,727.60 | 5,907.41 | 6,037.18 | 6,216.99 | 6,346.76 | 6,526.57 |
| Camarilla | 6,002.08 | 6,030.45 | 6,058.83 | 6,087.21 | 6,115.59 | 6,143.97 | 6,172.35 |
| Woodie | 5,622.84 | 5,740.11 | 5,932.42 | 6,049.69 | 6,242.00 | 6,359.27 | 6,551.58 |
| Fibonacci | 5,727.60 | 5,845.86 | 5,918.92 | 6,037.18 | 6,155.44 | 6,228.50 | 6,346.76 |
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): | 61.87 | |
| MACD (12,26,9): | 91.9700 | |
| Directional Movement: | 10.40 | |
| AROON (14): | 78.57 | |
| DEMA (21): | 6,034.06 | |
| Parabolic SAR (0,02-0,02-0,2): | 5,927.48 | |
| Elder Ray (13): | 79.56 | |
| Super Trend (3,10): | 5,842.45 | |
| Zig ZAG (10): | 6,056.47 | |
| VORTEX (21): | 1.1200 | |
| Stochastique (14,3,5): | 76.72 | |
| TEMA (21): | 6,094.74 | |
| Williams %R (14): | -23.86 | |
| Chande Momentum Oscillator (20): | 273.42 | |
| Repulse (5,40,3): | 1.1500 | |
| ROCnROLL: | 1 | |
| TRIX (15,9): | 0.1800 | |
| Courbe Coppock: | 11.42 |
| MA7: | 6,057.13 | |
| MA20: | 5,875.40 | |
| MA50: | 5,784.27 | |
| MA100: | 5,821.37 | |
| MAexp7: | 6,030.62 | |
| MAexp20: | 5,923.55 | |
| MAexp50: | 5,827.41 | |
| MAexp100: | 5,769.45 | |
| Price / MA7: | +0.05% | |
| Price / MA20: | +3.14% | |
| Price / MA50: | +4.77% | |
| Price / MA100: | +4.10% | |
| Price / MAexp7: | +0.49% | |
| Price / MAexp20: | +2.30% | |
| Price / MAexp50: | +3.99% | |
| Price / MAexp100: | +5.03% |
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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