NASDAQ COMPOSITE INDEX - 1H - Technical analysis published on 04/05/2024 (GMT)
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- Timeframe : 1H
- - Analysis generated on
- Status : LEVEL MAINTAINED
Summary of the analysis
Trends
Short term:
Strongly bearish
Underlying:
Bearish
Technical indicators
22%
56%
22%
My opinion
Bearish under 16,302.20 USD
My targets
16,137.91 USD (-0.33%)
16,057.40 USD (-0.83%)
My analysis
In the short term, we can see an acceleration in the bearish trend on NASDAQ COMPOSITE INDEX, which is a positive signal for sellers. As long as the price remains above 16,302.20 USD, a sale could be considered. The first bearish objective is located at 16,137.91 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 16,057.40 USD as an objective. Crossing it would then enable sellers to target 15,978.16 USD. If the price were to return above 16,302.20 USD, it would probably only trigger a small rebound in the short term to give a better base for restarting. Trading this rebound may be risky.
Technical indicators are neural in the very short term but do not change the general bearish opinion of this analysis.
Force
0
10
5
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This analysis was given by MikeBMVP. Take part yourself by sharing additional analysis on another time unit:
Additional analysis
Quotes
The NASDAQ COMPOSITE INDEX rating is 16,192.02 USD. The price registered an increase of +0.89% on the session with the lowest point at 16,080.48 USD and the highest point at 16,195.34 USD. The deviation from the price is +0.69% for the low point and -0.02% for the high point.16,080.48
16,195.34
16,192.02
A study of price movements over other periods shows the following variations:
Near a new HIGH record (5 years)
Type : Bullish
Timeframe : Weekly
Technical
Technical analysis of this 1H chart of NASDAQ COMPOSITE INDEX indicates that the overall trend is bearish. 71.43% of the signals given by moving averages are bearish. This 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.
In fact, Central Analyzer took into account 18 technical indicators and the result was as follows: 4 are bullish, 4 are neutral and 10 are bearish. But beware of excesses. The Central Indicators scanner currently detects this:
CCI indicator is oversold : under -100
Type : Neutral
Timeframe : 1 hour
Previous candle closed under Bollinger bands
Type : Neutral
Timeframe : 1 hour
Pivot points : price is under support 3
Type : Neutral
Timeframe : Weekly
The analysis of the price chart with Central Patterns scanners does not return any result.
The presence of these Japanese chandelier patterns detected by Central Candlesticks that could impact the current short-term trend were also noted:
Bullish harami
Type : Bullish
Timeframe : 1 hour
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 | 15,978.16 | 16,057.40 | 16,137.91 | 16,192.02 | 16,302.20 | 16,362.65 | 16,538.87 |
| Change (%) | -1.32% | -0.83% | -0.33% | - | +0.68% | +1.05% | +2.14% |
| Change | -213.86 | -134.62 | -54.11 | - | +110.18 | +170.63 | +346.85 |
| Level | Minor | Major | Intermediate | - | Intermediate | Minor | 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 | 15,486.27 | 15,766.41 | 15,907.75 | 16,187.89 | 16,329.23 | 16,609.37 | 16,750.71 |
| Camarilla | 15,933.17 | 15,971.81 | 16,010.44 | 16,049.08 | 16,087.72 | 16,126.35 | 16,164.99 |
| Woodie | 15,416.86 | 15,731.71 | 15,838.34 | 16,153.19 | 16,259.82 | 16,574.67 | 16,681.30 |
| Fibonacci | 15,766.41 | 15,927.42 | 16,026.89 | 16,187.89 | 16,348.90 | 16,448.37 | 16,609.37 |
Weekly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 16,083.08 | 16,181.13 | 16,280.29 | 16,378.34 | 16,477.50 | 16,575.55 | 16,674.71 |
| Camarilla | 16,325.23 | 16,343.31 | 16,361.38 | 16,379.46 | 16,397.54 | 16,415.62 | 16,433.69 |
| Woodie | 16,083.65 | 16,181.41 | 16,280.86 | 16,378.62 | 16,478.07 | 16,575.83 | 16,675.28 |
| Fibonacci | 16,181.13 | 16,256.46 | 16,303.00 | 16,378.34 | 16,453.67 | 16,500.21 | 16,575.55 |
Monthly
| Pivot points | S3 | S2 | S1 | PP | R1 | R2 | R3 |
|---|---|---|---|---|---|---|---|
| Standard | 15,305.53 | 15,584.08 | 15,981.77 | 16,260.32 | 16,658.01 | 16,936.56 | 17,334.25 |
| Camarilla | 16,193.49 | 16,255.48 | 16,317.47 | 16,379.46 | 16,441.45 | 16,503.44 | 16,565.43 |
| Woodie | 15,365.10 | 15,613.87 | 16,041.34 | 16,290.11 | 16,717.58 | 16,966.35 | 17,393.82 |
| Fibonacci | 15,584.08 | 15,842.40 | 16,002.00 | 16,260.32 | 16,518.64 | 16,678.24 | 16,936.56 |
Numerical data
The following are the details of the technical indicators and moving averages that were collected to generate this technical analysis:
Technical indicators
Moving averages
| RSI (14): | 41.42 | |
| MACD (12,26,9): | -25.4300 | |
| Directional Movement: | -24.14 | |
| AROON (14): | -21.43 | |
| DEMA (21): | 16,263.85 | |
| Parabolic SAR (0,02-0,02-0,2): | 16,445.49 | |
| Elder Ray (13): | -152.99 | |
| Super Trend (3,10): | 16,360.71 | |
| Zig ZAG (10): | 16,175.54 | |
| VORTEX (21): | 0.8300 | |
| Stochastique (14,3,5): | 12.77 | |
| TEMA (21): | 16,256.05 | |
| Williams %R (14): | -65.20 | |
| Chande Momentum Oscillator (20): | -110.54 | |
| Repulse (5,40,3): | -0.7700 | |
| ROCnROLL: | 2 | |
| TRIX (15,9): | 0.0000 | |
| Courbe Coppock: | 0.53 |
| MA7: | 16,273.17 | |
| MA20: | 16,235.27 | |
| MA50: | 15,977.50 | |
| MA100: | 15,301.42 | |
| MAexp7: | 16,227.74 | |
| MAexp20: | 16,287.55 | |
| MAexp50: | 16,308.24 | |
| MAexp100: | 16,278.20 | |
| Price / MA7: | -0.50% | |
| Price / MA20: | -0.27% | |
| Price / MA50: | +1.34% | |
| Price / MA100: | +5.82% | |
| Price / MAexp7: | -0.22% | |
| Price / MAexp20: | -0.59% | |
| Price / MAexp50: | -0.71% | |
| Price / MAexp100: | -0.53% |
Quotes :
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15 min delayed data
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NASDAQ US Indices
News
The latest news and videos published on NASDAQ COMPOSITE INDEX at the time of the analysis were as follows:
-
Nasdaq Composite officially entered bear market
-
Nasdaq Composite Courts Bear Market Territory
-
S&P 500 And Nasdaq Composite Close To Record Highs
-
Biotech Boosts S&P 500 And Nasdaq Composite
-
Nasdaq Composite Hits Record High
This member declared not having a position on this financial instrument or a related financial instrument.
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