NASDAQ COMPOSITE INDEX

- USD (-)

- 15 min delayed data - NASDAQ US Indices

Open:	-
Change:	-
Volume:	-

Low:	-
High:	-
High / Low range:	-

Type:	Indices
Ticker:	COMP
ISIN:	XC0009694271

NASDAQ COMPOSITE INDEX - 1H - Technical analysis published on 10/23/2023 (GMT)

Londinia

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Timeframe : 1H
- Analysis generated on
Status : TARGET REACHED

Summary of the analysis

Trends

Short term: Strongly bearish

Underlying: Strongly bearish

Technical indicators

33%

My opinion

Bearish under 13,362.48 USD

My targets

13,008.60 USD (-0.89%)

12,720.80 USD (-3.08%)

My analysis

The bearish trend is currently very strong for NASDAQ COMPOSITE INDEX. As long as the price remains below the resistance at 13,362.48 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 13,008.60 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 12,720.80 USD as an objective. Crossing it would then enable sellers to target 12,056.44 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend.

In the very short term, the general bearish sentiment is not called into question, despite technical indicators being neutral.

Force

Comment on the analysis

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

The NASDAQ COMPOSITE INDEX price is 13,125.66 USD. The price has increased by +1.09% since the last closing with the lowest point at 12,848.83 USD and the highest point at 13,143.22 USD. The deviation from the price is +2.15% for the low point and -0.13% for the high point.

12,848.83

13,143.22

13,125.66

The Central Gaps scanner detects the formation of a bearish gap marking the strong presence of sellers ahead of buyers at the opening. This formed a quotation gap.

Opening Gap DOWN

Type : Bearish

Timeframe : Openning

So that you have an overall view of the price change, here is a table showing the variations over several periods:

The study of the highest / lowest by the Central Records scanner shows the following results:

Near a new HIGH record (1 month)

Type : Bullish

Timeframe : Weekly

New LOW record (1 month)

Type : Bearish

Timeframe : Weekly

Technical

Technical analysis of this 1H chart of NASDAQ COMPOSITE INDEX indicates that the overall trend is strongly bearish. 82.14% of the signals given by moving averages are bearish. The overall trend is supported by the strong bearish signals from short-term moving averages. An assessment of moving averages reveals several bearish and bullish signals:

Moving Average bearish crossovers : MA50 & MA100

Type : Bearish

Timeframe : 1 hour

Bullish price crossover with adaptative moving average 20

Type : Bullish

Timeframe : 1 hour

In fact, of the 18 technical indicators analysed by Central Analyzer, 6 are bullish, 6 are neutral and 6 are bearish. Central Indicators, the scanner specialised in technical indicators, has identified these signals:

Pivot points : price is over resistance 1

Type : Neutral

Timeframe : 1 hour

MACD crosses UP its Moving Average

Type : Bullish

Timeframe : 1 hour

Williams %R indicator is back over -50

Type : Bullish

Timeframe : 1 hour

The analysis of the price chart with Central Patterns scanners does not return any result.

The Central Candlesticks scanner which studies Japanese candlesticks did not detect anything.

ProTrendLines

Price

	S3	S2	S1	Price	R1	R2	R3
ProTrendLines	12,056.44	12,720.80	13,008.60	13,125.66	13,128.10	13,362.48	13,659.79
Change (%)	-8.15%	-3.08%	-0.89%	-	+0.02%	+1.80%	+4.07%
Change	-1,069.22	-404.86	-117.06	-	+2.44	+236.82	+534.13
Level	Major	Minor	Minor	-	Major	Major	Intermediate

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	12,715.12	12,846.28	12,915.04	13,046.20	13,114.96	13,246.12	13,314.88
Camarilla	12,928.83	12,947.16	12,965.48	12,983.81	13,002.14	13,020.46	13,038.79
Woodie	12,683.93	12,830.68	12,883.85	13,030.60	13,083.77	13,230.52	13,283.69
Fibonacci	12,846.28	12,922.65	12,969.83	13,046.20	13,122.57	13,169.75	13,246.12

Weekly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	12,148.59	12,563.01	12,773.41	13,187.83	13,398.23	13,812.65	14,023.05
Camarilla	12,811.99	12,869.26	12,926.54	12,983.81	13,041.09	13,098.36	13,155.64
Woodie	12,046.58	12,512.01	12,671.40	13,136.83	13,296.22	13,761.65	13,921.04
Fibonacci	12,563.01	12,801.69	12,949.15	13,187.83	13,426.51	13,573.97	13,812.65

Monthly

Pivot points	S3	S2	S1	PP	R1	R2	R3
Standard	11,551.99	12,257.57	12,738.45	13,444.03	13,924.91	14,630.49	15,111.37
Camarilla	12,893.04	13,001.80	13,110.56	13,219.32	13,328.08	13,436.84	13,545.60
Woodie	11,439.63	12,201.40	12,626.09	13,387.86	13,812.55	14,574.32	14,999.01
Fibonacci	12,257.57	12,710.80	12,990.81	13,444.03	13,897.26	14,177.27	14,630.49

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):	42.06
MACD (12,26,9):	-103.9000
Directional Movement:	-13.88
AROON (14):	-78.57
DEMA (21):	13,012.55
Parabolic SAR (0,02-0,02-0,2):	12,853.35
Elder Ray (13):	-14.06
Super Trend (3,10):	13,169.16
Zig ZAG (10):	13,098.85
VORTEX (21):	0.8300
Stochastique (14,3,5):	38.44
TEMA (21):	12,972.30
Williams %R (14):	-53.01
Chande Momentum Oscillator (20):	-95.69
Repulse (5,40,3):	1.0400
ROCnROLL:	-1
TRIX (15,9):	-0.1200
Courbe Coppock:	3.96

MA7:	13,303.12
MA20:	13,309.66
MA50:	13,526.34
MA100:	13,648.30
MAexp7:	13,062.23
MAexp20:	13,146.73
MAexp50:	13,285.21
MAexp100:	13,350.94
Price / MA7:	-1.33%
Price / MA20:	-1.38%
Price / MA50:	-2.96%
Price / MA100:	-3.83%
Price / MAexp7:	+0.49%
Price / MAexp20:	-0.16%
Price / MAexp50:	-1.20%
Price / MAexp100:	-1.69%

Quotes : - 15 min delayed data - NASDAQ US Indices

News

Don't forget to follow the news on NASDAQ COMPOSITE INDEX. At the time of publication of this analysis, the latest news was as follows:

This member declared not having a position on this financial instrument or a related financial instrument.

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