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 February 7 2006
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| STOCK: NASDAQ STOCK MARKET (NDAQ) |
CRAMER SAYS: COULD GO 15 POINTS FROM HERE |
| CURRENT PRICE: 42.43 |
TREND: UP TREND |
| TARGET PRICE: N/A |
RECOMMENDATION: SPECULATIVE BUY |
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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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Jim likes the Nasdaq Stock Market, and after taking a peak at the charts, the stock is looking pretty attractive here. On the long term chart, you can clearly see the price hitting resistance a few time, with the price having higher highs, hence moving in an ascending triangle pattern. The MACD is looking for a turn in the coming weeks as well, which suggests the possibility of it breaking through its high of about $46.75 a strong possibility. On the short term charts, you can see a magnified view of the resistance level, as well as the ascending trend line. The price may meet the resistance line this week, or sometime next week. The MACD is also suggesting a turn here, but the evidence is not concrete.
Bottom line, this stock looks good, and may breakout from its resistance in the coming weeks.
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