Our analysis is based on long term trends, and if they are promissing, short term analysis. First, we view the
3 year weekly charts, followed by a 1 year daily chart. This analysis allows you to view the larger picture and trend,
rather than just looking at a short term prospective. This way, you can use short term volatilty to your advantage, if the
long term trend is positive.
You will see a summery of the stock we are analyzing, followed by the 3 year and 1 year charts. At the end, you will see a technical analysis summery. That's it,
to the point technical stock market analysis daily!
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Technical Analysis for April 13 2006
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| STOCK: NASDAQ INDEX |
WEBSITE: |
| CURRENT PRICE: 2315 |
TREND: SHORT TERM UP? INTERMEDIATE DOWN |
| TARGET PRICE: N/A |
RECOMMENDATION: TAKE PROFITS INTO STRENGTH |
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Long Term Chart (Weekly 3yr) - To view the bigger picture
Charts Courtesy of StockCharts.com
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Short Term Chart (Daily 1yr) - Where to take a position
Charts Courtesy of StockCharts.com
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NASDAQ Technical Analysis
Today is our last day at evaluating indices, and we’ll take a look at the Nasdaq to round things up on the overall markets and where things may lead in the near and intermediate term. Taking a look at the long term chart, you can clearly see an ascending wedge pattern develop, with the current value near the top of this range, which it obviously has yet to break free from. The indicators on this chart are showing signs of weakness, with the MACD not heading higher as the index value does, showing a weak up trend picture, which should eventually break for a consolidation period. The stochastics are also indicating a break here, as the value is heading down here. Focusing on the short term picture, there are some signs that the index may bounce short term from here. The trend line is still intact as the price approaches the 50 day average, which it has consistently broken through, only to find support at the trend line. It is possible that short term trend could lead us to the trend line, which would be to about 2280. The MACD and the RSI may turn up here as well, although further confirmation is required prior to giving any sort of weight to these signals.
Bottom line, the markets are still in a consolidation phase, watch for the short term movement of the Nasdaq, as you may want to take profits for the intermediate term.
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