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Nasdaq Composite: below resistance, consolidation is likely (AT)


Nasdaq Composite Technical Analysis

Synthesis

The MACD is negative and below its signal line. This configuration degrades the outlook for the index. The RSI does not indicate an oversold yet so further decline is technically possible. Below 20, stochastics are extremely low. The volumes traded are lower than the average volume over the last 10 days.

Movements and Levels

The bullish movement seems to have stopped. The index is below its 50-day moving average located at 12007.48. The first support is at 11058.68 PTS, then at 10676.73 PTS and the resistance is at 12968.46 PTS, then at 13350.42 PTS

Technical analysis
TendencyCalculated data
Technical adviceNegativePrice on 01/0911,816.20
Background trendNeutralMM2012,586.50
Bracket 111,058.68MM5012,007.48
Bracket 210,676.73ROI37.95
Resistance 112,968.46MACD– 31.47
Resistance 213,350.42Stochastic3.87

Technical analysis provided by © TEC

Technical Analysis provided by TEC ©2022. All rights of reproduction and representation reserved. TEC is an analysis of the technical situation of an asset at a given time and which is subject to change at any time. The notions of support and resistance come from the elementary principles of technical analysis. This indicative information does not in any way constitute an invitation to sell or buy. The reader remains solely responsible for their interpretation and for the use of the information made available to them.



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