The VIX closed at 21.32, indicating an implied one day move of +/-1.34% & a one month implied move of +/-6.16%.
Highest Technical Rated S&P 500 Components Per 9/4/2024’s Close:
1 – K
2 – UHS
3 – MMM
4 – IRM
5 – BBY
6 – TRGP
7 – PGR
8 – HWM
9 – RMD
10 – VTR
Lowest Technical Rated S&P 500 Components Per 9/4/2024’s Close:
1 – DLTR
2 – SMCI
3 – WBA
4 – DG
5 – INTC
6 – DXCM
7 – MRNA
8 – BBWI
9 – LW
10 – LULU
Highest Volume Rated S&P 500 Components Per 9/4/2024’s Close:
1 – DLTR
2 – BBWI
3 – HRL
4 – DG
5 – IPG
6 – EPAM
7 – MKC
8 – VZ
9 – MOH
10 – T
Lowest Volume Rated S&P 500 Components Per 9/4/2024’s Close:
1 – ENPH
2 – FMC
3 – AKAM
4 – SBUX
5 – ANSS
6 – UBER
7 – TDG
8 – NRG
9 – MTCH
10 – EXPE
Highest Technical Rated ETFs Per 9/4/2024’s Close:
1 – UTSL
2 – DRN
3 – FAS
4 – KOLD
5 – UPW
6 – URE
7 – DPST
8 – CURE
9 – UYG
10 – XTL
Lowest Technical Rated ETFs Per 9/4/2024’s Close:
1 – CONL
2 – MSOX
3 – MEXX
4 – BOIL
5 – LTCN
6 – GXLM
7 – MRNY
8 – SVIX
9 – BCHG
10 – CONY
Highest Volume Rated ETFs Per 9/4/2024’s Close:
1 – SEPZ
2 – HKND
3 – AUGZ
4 – NSCR
5 – PJFM
6 – VNSE
7 – PBJA
8 – SSPY
9 – OBND
10 – ISEP
Lowest Volume Rated ETFs Per 9/4/2024’s Close:
1 – FLCB
2 – LRNZ
3 – TMAT
4 – COMT
5 – BUFG
6 – DFSD
7 – AGOX
8 – JPME
9 – PULT
10 – IDEV
Highest Technical Rated General Stocks Per 9/4/2024’s Close:
1 – RAASY
2 – GDC
3 – ASTS
4 – TSSI
5 – BOF
6 – CMMB
7 – SICP
8 – VRAX
9 – NEON
10 – LUMN
Lowest Technical Rated General Stocks Per 9/4/2024’s Close:
1 – SING
2 – IVP
3 – WHLR
4 – AILE
5 – BSLK
6 – SLXN
7 – LTM
8 – SYTA
9 – MLGO
10 – MULN
Highest Volume Rated General Stocks Per 9/4/2024’s Close:
1 – WISA
2 – OUT
3 – SLG
4 – BMRA
5 – LQR
6 – SHPH
7 – ATHA
8 – CNET
9 – WINT
10 – BYU
Lowest Volume Rated General Stocks Per 9/4/2024’s Close:
1 – GMS
2 – CCJ
3 – DTRUY
4 – ALNT
5 – CHK
6 – REZI
7 – AES
8 – OVV
9 – ATRWF
10 – TASK
*** THE LIST ABOVE IS STRICTLY FOR INFORMATIONAL PURPOSES – I MAY OR MAY NOT HAVE OR INITIATE A LONG, SHORT, OR LONG/SHORT POSITION IN ANY NAME ABOVE AT ANY TIME ***
The VIX closed at 20.72, indicating a one day implied move of +/-1.31% & an implied one month move of +/-5.99%.
Highest Technical Rated S&P 500 Components Per 9/3/2024’s Close:
1 – K
2 – IRM
3 – UHS
4 – MMM
5 – TRGP
6 – BBY
7 – RMD
8 – VTR
9 – PGR
10 – PM
Lowest Technical Rated S&P 500 Components Per 9/3/2024’s Close:
1 – WB
2 – DG
3 – SMCI
4 – INTC
5 – MRNA
6 – DXCM
7 – DLTR
8 – BBWI
9 – LW
10 – LULU
Highest Volume Rated S&P 500 Components Per 9/3/2024’s Close:
1 – TAP
2 – DG
3 – BA
4 – DLTR
5 – SNPS
6 – CPAY
7 – TRGP
8 – FDS
9 – AMAT
10 – J
Lowest Volume Rated S&P 500 Components Per 9/3/2024’s Close:
1 – JCI
2 – PARA
3 – IP
4 – SRE
5 – LH
6 – MSCI
7 – WAT
8 – AKAM
9 – ALGN
10 – GPN
Highest Technical Rated ETFs Per 9/3/2024’s Close:
1 – DRN
2 – FAS
3 – UPW
4 – URE
5 – UYG
6 – NAIL
7 – UGE
8 – HAUS
9 – REZ
10 – DFEN
Lowest Technical Rated ETFs Per 9/3/2024’s Close:
1 – MEXX
2 – BOIL
3 – SVIX
4 – NVDQ
5 – NVD
6 – SOXL
7 – CONY
8 – DRV
9 – URNJ
10 – PSIL
Highest Volume Rated ETFs Per 9/3/2024’s Close:
1 – SEPT
2 – TBFG
3 – SEPW
4 – SPCZ
5 – KDIV
6 – JUNW
7 – TSEC
8 – IWX
9 – XVOL
10 – NSCR
Lowest Volume Rated ETFs Per 9/3/2024’s Close:
1 – IBDU
2 – DUBS
3 – FXH
4 – QQQ
5 – UYM
6 – ESGD
7 – KSA
8 – HDGE
9 – DJUN
10 – VTES
Highest Technical Rated General Stocks Per 9/3/2024’s Close:
1 – RAASY
2 – BYU
3 – GDC
4 – BOF
5 – TSSI
6 – VRAX
7 – NEON
8 – ASTS
9 – CMMB
10 – SICP
Lowest Technical Rated General Stocks Per 9/3/2024’s Close:
1 – SING
2 – WTO
3 – NDRA
4 – IVP
5 – BSLK
6 – MLGO
7 – LTM
8 – SLXN
9 – BJDX
10 – CGBS
Highest Volume Rated General Stocks Per 9/3/2024’s Close:
1 – CNFR
2 – SIFY
3 – PSNYW
4 – TWO
5 – OUT
6 – AUUD
7 – APTO
8 – MSGM
9 – SNPH
10 – ZBAO
Lowest Volume Rated General Stocks Per 9/3/2024’s Close:
1 – BY
2 – CRMT
3 – ALL
4 – HUBG
5 – AWX
6 – SPHR
7 – STNG
8 – STNG
9 – MBWM
10 – HYMC
*** THE LIST ABOVE IS STRICTLY FOR INFORMATIONAL PURPOSES – I MAY OR MAY NOT HAVE OR INITIATE A LONG, SHORT, OR LONG/SHORT POSITION IN ANY NAME ABOVE AT ANY TIME ***
SPY, the SPDR S&P 500 ETF added +0.28% this past week, while the VIX closed the week at 15.00, indicating an implied one day move of +/-0.95% & an implied one month move of +/-4.34%.
SPY ETF – SPDR S&P 500 ETF’s Technical Performance Over The Past Year
Their RSI is trending towards overbought conditions & sits at 62.11, while their MACD is bullish, but has been moving towards the signal line & its histogram is declining, indicating waning sentiment & an impending bearish crossover on the horizon.
Volumes were still weak, coming in -39.54% below the past year’s (diluted since May) average volume (41,456,061 vs. 68,568,837), as investors close out the summer months & brace for what looks set to be a more volatile September.
Monday started on as a declining day for SPY on low volume, before Tuesday recovered some of the losses but on very weak volume, indicating that there was still not much appetite for risk.
Wednesday is where the real cracks began to show for SPY, as the session resulted in a decline on the second highest volume of the week.
Recall that volume has been what we have been focusing on recently as it provides a measure of actual participation & sentiment behind the market’s movement & behavior.
When markets are off all-time highs & have limited support levels nearby the volume is going to be a great indicator of actual market sentiment.
The other warning sign that flashed on Wednesday was that while the market opened near Tuesday’s close, it tested below the support of the 10 day moving average during the day & closed in-line with it.
Given that the volume was second highest of the week, it became evident on Wednesday that we are entering another period of risk-off sentiment & what will likely become a time of heightened volatility.
Thursday continued this theme, as SPY opened at about the middle of Wednesday’s candle’s real body & tested higher, before collapsing, testing below the 10 DMA’s support again & closing lower than it opened, just beneath the 10 DMA.
Friday the bulls regained control though, although the day did test below the 10 DMA again, but at the end of the day a surge in volume compared to the rest of the week saw market participants squeeze prices higher as the day closed with a +0.95% advance.
Heading into the new week all eyes will be on the support of the 10 & 50 day moving averages for SPY, as well as its trading volume.
The consolidation range of the past couple of weeks has not shown much strength & with the low volumes that we are seeing it appears that we are due to a little break & some near-term declines.
While not all earnings disappointed, most companies have reported now leaving less chances for an upside catalyst in the near-term & the fact that neither Friday nor any day over the past month & a half have been able to reach SPY’s recent all-time high leaves little room for optimism.
Couple these points with the really low volumes we’ve been seeing & it begins to look even more bleak & less likely that we’ll find reason to begin trending upwards again in the near-term.
Given how spread out SPY’s support levels are up here, it’ll be wise to watch price in relation to the 50 DMA, as the support level is currently -2.56% (Friday’s closing levels) below their price.
While the spreads between the 10 & 50 DMA are not as narrow as they were in last September, there are certainly many similarities between what we are seeing in today’s market compared to just one year ago & it will be something to keep an eye on.
It is worth taking a look at the table below to assess the strength of their support levels, as the table displays the ratio of Buyers:Sellers (or Sellers:Buyers) at each price level SPY has traded at over the past 1-2 years & may shed light into how market participants will behave at these levels again.
SPY has support at the $560 (10 Day Moving Average, Volume Sentiment: Buyers, 0.8:0*), $554.87 (Volume Sentiment: Buyers, 2:1), $548.73 (50 Day Moving Average, Volume Sentiment: Buyers, 2:1) & $537.45/share (Volume Sentiment: Buyers, 0.7:0*) price levels, with resistance at the $565.16/share (All-Time High, Volume Sentiment: NULL, 0:0*) price level.
SPY ETF’s Price Level:Volume Sentiment Over The Past 1-2 Years
QQQ, the Invesco QQQ Trust ETF that tracks the NASDAQ 100 fared the worst of the major four index ETFs, declining -0.78% for the week.
QQQ ETF – Invesco QQQ Trust ETF’s Technical Performance Over The Past Year
Their RSI is near the neutral 50 mark & sits currently at 54.53, while their MACD has recently remained bullish but is declining towards the signal line & looking ready to cross over bearishly in the coming day or two.
Volumes were also weak, coming in -22.79% below the prior year’s average volume (33,309,777 vs. 43,144,086), which is negative from both the perspective of a lack of participation vs. the comparison when made back in March (per 8/18/2024’s Weekly Review Note) & from the perspective of how bearish volume is standing taller at higher levels than volume does on many bullish days.
Much like SPY, QQQ’s week last week also started off on a bearish note, as Monday’s session declined to the support of their 50 DMA, which is closed near.
Tuesday opened lower but was able to break above the 50 day moving average’s resistance & briefly broke above the 10 DMA’s, but settled for the day near the 10 DMA.
Wednesday is when the fun broke out, as the session opened higher than Tuesday’s session, but ultimately sold off & formed a bearish engulfing pattern, indicating that there would be more difficulty on the horizon for QQQ.
Thursday confirmed this when QQQ declined again on the strongest volume of the week (Wednesday’s was second strongest, followed by Friday’s).
The session opened about midway through the range of Wednesday’s price action, tested higher, breaking above the 10 DMA’s resistance briefly before tumbling below the 50 DMA, testing further down & ultimately being unable to close above the 50 DMA’s resistance.
Friday’s candle would be characterized as a hanging man (bearish) if it came at the end of an uptrend & not a consolidation range, but prices were squeezed higher to celebrate the last session of August, despite the day’s lower shadow signaling that there is a lot more people are getting happy about to be found to the downside for QQQ.
As I’ve noted before, QQQ & SPY have very similar patterns, however QQQ did not ascend with as high of a velocity as SPY did over the past year, which gives them the benefit of more local support touch-points.
While this is good, one issue that they have is that even the slightest decline from Friday’s closing price puts them trading under their 10 & 50 DMA’s, with the 200 DMA only -7.8% below Friday’s close.
Still, the week ahead for QQQ might benefit from looking at their chart from this time last year & noting the similarities between September & October of 2023 to July & August 2024.
It will also be interesting to see how long it takes for QQQ to begin filling its gaps from August given that their price is already getting downward pressure from the 10 & 50 DMAs & then keep track of how long it takes SPY to follow suit.
QQQ has support at the $475.55 (Volume Sentiment: Buyers, 2.5:1), $473.92 (50 Day Moving Average, Volume Sentiment: Buyers, 2.5:1), $467.89 (Volume Sentiment: Buyers, 0.7:0*) & $459.85/share (Volume Sentiment: Buyers, 0.9:0*) price levels, with resistance at the $476.93 (10 Day Moving Average, Volume Sentiment: Sellers, 1.11:1), $485.54 (Volume Sentiment: Buyers, 1.3:0*) & $503.52/share (All-Time High, Volume Sentiment: Buyers, 0.4:0*) price levels.
QQQ ETF’s Price Level:Volume Sentiment Over The Past 1-2 Years
IWM, the iShares Russell 2000 ETF dipped -0.14% for the week, as small cap stocks remained relatively unchanged compared to the other major index ETFs.
IWM ETF – iShares Russell 2000 ETF’s Technical Performance Over The Past Year
Their RSI is trending towards overbought levels & sits currently at 58.83, while their MACD is still bullish but their histogram is waning, which precedes periods of weakness.
Volumes were -36.27% below the past year’s average last week (22,325,177 vs. 35,030,586), which gives the same signals of weakness outlined for SPY & QQQ, although in a bright spot for IWM their declining days last week had the lowest levels of volume (not sure that’s much of a win, but worth noting).
Monday was a bullish day for IWM, however it was flashing bearish signals as well, as the session was unable to close above where it opened & it tested below the close of the previous Friday.
Tuesday the levy broke & IWM opened on a gap down that ended as a spinning top, indicating a great deal of indecision on the part of market participants (but on low volume, as noted earlier).
The downtrend continued on Wednesday with another spinning top candle that tested the support of the 10 day moving average, but was able to stay above it for the session.
Thursday showed that there was more confusion in the small caps, as the day ended on a long legged doji, where price was relatively unchanged from open to close but the upper & lower shadows show a wide range of prices were tested throughout the session.
Friday continued the “week of uncertainty” for IWM, as the week concluded on a spinning top candle that while the open/closing price action was concentrated in the upper end of the candle, the lower shadow tested down to the 10 day moving average’s support, meaning that we will likely see more retests of this support in the coming week.
As frequently noted in the weekly posts, IWM tends to oscillate around a trading range then leg higher or lower much more than SPY or QQQ, so there is quite a bit of support for IWM at these price levels that are nearby.
However, it should be noted that the 200 day moving average has now moved into that support zone & is sitting right in the middle of it.
As the 200 DMA continues to climb, should IWM break down below it that would likely indicate that the support zone itself will break down & will be something to keep an eye on & to continue to reassess the strength of the price levels.
This is also highlighted in the table below where the $193.99/share price level begins a seller dominated zone where there have been 3.79 sellers:buyers in terms of volume sentiment, which would likely trigger a further sell off into the $189.99/share block where the Sellers:Buyers ratio has been 1.46:1 until the $187.99 price level.
Given IWM’s proximity to their 52-week high, expect to see some profit taking in the coming week & be mindful of how the larger cap indexes are moving, as with them all at all-time highs & IWM near a 52-week high that may be the recipe for folks exiting the pool altogether vs. rotating into small caps.
IWM has support at the $217.26 (10 Day Moving Average, Volume Sentiment: NULL, 0:0*), $215.38 (Volume Sentiment: NULL, 0:0*), $211.61 (50 Day Moving Average, Volume Sentiment: Buyers, 2.4:1) & $211.29/share (Volume Sentiment: Buyers, 2.4:0*) price levels, with resistance at the $222.45 (Volume Sentiment: NULL, 0:0*), $226.64 (Volume Sentiment: NULL, 0:0*) & $228.63/share (52-Week High, Volume Sentiment: NULL, 0:0*) price levels.
IWM ETF’s Price Level:Volume Sentiment Over The Past 1-3 Years
DIA, the SPDR Dow Jones Industrial Average ETF had the strongest week of the major four indexes, advancing +1.06% for the week as the blue chip names weathered the semiconductor storm fallout the best.
DIA ETF – SPDR Dow Jones Industrial Average ETF’s Technical Performance Over The Past Year
Their RSI is trending towards overbought conditions & sits at 67.47, while their MACD is still bullish, but beginning to look overextended & their histogram is weakening, indicating that there is likely a bearish crossover coming by Thursday of this week.
Volumes were -15.72% below the past year’s average volume (2,978,636 vs. 3,525,088), as DIA has managed to maintain the closest semblance of normal volumes of the major four index ETFs all year, while the others have waned.
DIA closed the week out at a new all-time high, but the path to get there was certainly filled with uncertainty.
Aside from Thursday which eclipsed the rest of the week’s volumes their trading volumes were unremarkable, and given the way Thursday’s candle closed out as a high wave spinning top that closed lower than it opened, it appears a lot of people were taking profits there & that the bull run up is in jeopardy.
The long lower shadow on Friday’s candle also gives off that sentiment, especially when paired with the second lowest volumes of the week.
While there is a cluster of support levels not too far down from DIA’s current price, the same moving average relationships & strength of sentiment at different price levels will be what to watch in the coming week, along with what the current week’s volumes do.
DIA may have lost the least amount of average volume of the major four index ETF’s we’ve compared here, but given that it was so highly concentrated just on being from Thursday it is hard to say that this is a sign of strength.
If this continues into this week it should be a reason for investors to be looking at markets with a very skeptical eye & be viewed as a signal of a lack of confidence overall.
DIA has support at the $413.33 (Volume Sentiment: NULL, 0:0*), $411.30 (10 Day Moving Average, Volume Sentiment: NULL, 0:0*), $400.52 (50 Day Moving Average, Volume Sentiment: NULL, 0:0*) & $399.31/share (Volume Sentiment: Buyers, 2:1) price levels, with resistance at the $416.55/share (All-Time High, Volume Sentiment: NULL, 0:0*) price level.
DIA ETF’s Price Level:Volume Sentiment Over The Past 3-4 Years
The Week Ahead
There are no major economic data announcements or earnings reports on Monday as it is Labor Day in the U.S.
S&P Final U.S. Manufacturing PMI is announced Tuesday at 9:45 am, followed by Construction Spending & ISM Manufacturing data at 10 am.
Hello Group reports earnings Tuesday morning, with GitLab, PagerDuty & Zscaler reporting after the closing bell.
Wednesday begins with U.S. Trade Deficit data at 8:30 am, followed by Job Openings & Factory Orders data at 10 am & the Fed’s Beige Book at 2pm.
Dick’s Sporting Goods, Dollar Tree, America’s Car Mart, Ciena, Core & Main, Hormel Foods, REV Group & Torrid all report earnings before Wednesday’s opening bell, with AeroVironment, C3.ai, Casey’s General, ChargePoint, Copart, Couchbase, Credo Technology Group, Descartes, Hewlett Packard Enterprise, Phreesia, Sprinklr, Verint Systems & Yext all scheduled to report earnings after the closing bell.
ADP Employment, Initial Jobless Claims & U.S. Productivity (revision) data all come out Thursday at 8:30 am, with S&P final U.S. Services PMI data coming out at 9:45 am & ISM Services data at 10 am.
Thursday kicks off with earnings from Korn Ferry, Nio, Science Applications International, Shoe Carnival & The Toro Company, with Broadcom, Argan, Braze, DocuSign, Guidewire Software, Smartsheet, Smith & Wesson Brands, UiPath, Veradigm & Zumiez due to report after the session’s close.
U.S. Employment Report, U.S. Unemployment Rate, U.S. Hourly Wages & Hourly Wages Year-over-Year are all released Friday at 8:30 am, followed by New York Fed President Williams speaking at 8:45 am.
Friday morning’s earnings reports include ABM Industries, Brady, BRP Inc. & Genesco.
See you back here next week!
*** I DO NOT OWN SHARES OR OPTIONS CONTRACT POSITIONS IN SPY, QQQ, IWM OR DIA AT THE TIME OF PUBLISHING THIS ARTICLE ***
The VIX closed at 15.00, indicating an implied one day move of SPY at +/-0.95% & a one month implied move of +/-4.34%.
Highest Technical Rated S&P 500 Components Per 8/30/2024’s Close:
1 – MMM
2 – K
3 – IRM
4 – UHS
5 – HWM
6 – BBY
7 – GDDY
8 – NEM
9 – TRGP
10 – RMD
Lowest Technical Rated S&P 500 Components Per 8/30/2024’s Close:
1 – DG
2 – SMCI
3 – WBA
4 – DXCM
5 – INTC
6 – MRNA
7 – DLTR
8 – BBWI
9 – LW
10 – LULU
Highest Volume Rated S&P 500 Components Per 8/30/2024’s Close:
1 – DG
2 – ULTA
3 – ETSY
4 – LULU
5 – WELL
6 – INTC
7 – ADSK
8 – CZR
9 – ANSS
10 – DOC
Lowest Volume Rated S&P 500 Components Per 8/30/2024’s Close:
1 – SBUX
2 – LUV
3 – JCI
4 – RL
5 – GNRC
6 – FSLR
7 – MSCI
8 – EQT
9 – AMD
10 – VST
Highest Technical Rated ETFs Per 8/30/2024’s Close:
1 – UTSL
2 – DPST
3 – FAS
4 – DFEN
5 – NAIL
6 – KOLD
7 – DRN
8 – AAPU
9 – UPW
10 – UYG
Lowest Technical Rated ETFs Per 8/30/2024’s Close:
1 – NVDQ
2 – NVD
3 – MSOX
4 – UVIX
5 – BOIL
6 – MEXX
7 – GXLM
8 – CONL
9 – MRNY
10 – NVDS
Highest Volume Rated ETFs Per 8/30/2024’s Close:
1 – PABD
2 – KPRO
3 – BBEM
4 – UDI
5 – USEP
6 – SEPW
7 – AVMV
8 – USCA
9 – KDRN
10 – KMET
Lowest Volume Rated ETFs Per 8/30/2024’s Close:
1 – SCHG
2 – IXP
3 – GDXJ
4 – IWO
5 – FTSM
6 – ADME
7 – AOHY
8 – QEMM
9 – XHB
10 – DSI
Highest Technical Rated General Stocks Per 8/30/2024’s Close:
1 – GLTO
2 – SNOA
3 – ATPC
4 – GLMD
5 – BYU
6 – RAASY
7 – GDC
8 – NEON
9 – VRAX
10 – TSSI
Lowest Technical Rated General Stocks Per 8/30/2024’s Close:
1 – SING
2 – WTO
3 – NDRA
4 – MLGO
5 – BSLK
6 – VTAK
7 – SYTA
8 – LTM
9 – IVP
10 – PSIG
Highest Volume Rated General Stocks Per 8/30/2024’s Close:
1 – FCUV
2 – BNRG
3 – OUT
4 – ATPC
5 – TOVX
6 – NSA
7 – MSS
8 – VTAK
9 – ENBP
10 – BYU
Lowest Volume Rated General Stocks Per 8/30/2024’s Close:
1 – NVTS
2 – AXP
3 – ATXG
4 – SMTC
5 – GIB
6 – ATHM
7 – MAXN
8 – PCG
9 – R
10 – IBTA
*** THE LIST ABOVE IS STRICTLY FOR INFORMATIONAL PURPOSES – I MAY OR MAY NOT HAVE OR INITIATE A LONG, SHORT, OR LONG/SHORT POSITION IN ANY NAME ABOVE AT ANY TIME ***
NVIDIA Corp. stock trades under the ticker NVDA & has been one of the most talked about companies in the world over the past year & for great reason.
Their stock has advanced +141.11% over that time, sitting -16.46% below its 52-week high set in June, but still +199.75% higher than their 52-week low that was set on Halloween of 2023 (all figures are ex-dividends).
While their earnings results beat expectations, there was weakness in their guidance which market participants were not pleased to see, leading to yesterday’s gap down session.
Between the negative sentiment from earnings & September’s historic month of poor performance & declines for stocks it is worth examining the strength of weakness of NVDA’s past year’s support & resistance levels.
Below is a brief review of NVDA’s recent technical performance, followed by the volume sentiments for each of the price levels that they have traded at over the past 1-2 years, in order to have an idea as to how they may behave again at these levels.
It is not intended to serve as financial advice, but rather as an additional tool to reference while performing your own due diligence on NVDA.
Technical Analysis Of NVDA, NVIDIA Corp. Stock
NVIDIA Corp. NVDA Stock’s Technical Performance Over The Past Year
Their RSI is 47.6, while their MACD is bullish but ready to cross the signal line bearishly tomorrow or Monday, which will in turn begin showing more weakness in their current moving averages.
Over the past week, volumes have been -15.82% below average this past week despite their earnings call buildup vs. their previous year’s average (371,045,507.2 vs. 440,762,551.13).
However, over the past two trading sessions the average volume has been 448,448,968, only +1.74% above the year’s average despite the disappointing guidance they offered & the selling of the past two days.
Much like has been noted in the last few weekly market reviews, volume is going to be one of the primary areas to keep an eye on in the coming weeks, as it will depict what actual magnitude of market participants are forcing the volatility that we historically see in September.
Last Thursday is when the warning signs began flashing for NVDA, when the session ended with a bearish engulfing candle on high volume compared to the prior couple of weeks.
While there was a brief rally that Friday heading into the week’s close, it was on less volume than the day prior, indicating that uneasiness had begun to creep into their share price.
This Monday the week started off on weak footing with another declining session whose low tested the support of the ten day moving average, but that ultimately closed above it.
Tuesday opened at the 10 DMA, tested lower, but was able to rally higher & close at about the mid-way point of Monday’s candle, as investors gave them one last pump heading into earnings day.
Wednesday was the day of their earnings report, and despite their call not being until after the session’s close, there was bearish sentiment already in the air, as the day opened around Tuesday’s close & then ventured lower, breaking through the 10 DMA’s support by a greater magnitude than it had since the beginning of the month on a volume level that hadn’t been seen in weeks.
This continued into yesterday, where the open gapped down, the day’s high went up to & tested beyond Wednesday’s low, before the bears came out in droves & forced the price below the support of the 50 day moving average, with the day’s lower shadow signaling that there was more downside appetite than the close as well.
As noted earlier, the volume of the past two days was slightly above that of the average volume of the previously year, which indicates that there may be a more mass exodus from the pool in the coming weeks.
Now that the 50 DMA’s support has been breached NVDA’s next primary support level is at $97.39, a -17.18% decline from Thursday evening’s closing price.
While there is a bit of a consolidation range that may provide support once that is reached, upon the $101.99/share point NVDA is either in seller dominated price zones or “NULL” zones (explanation in following section) until the buyers step back in at $95.99/share historically (table below), -18.37% below Thursday’s close.
With that in mind, the next section outlines the volume sentiments for each price level NVDA has traded at over the past 1-2 years & the current price level, moving averages & support/resistance levels are also noted.
Price Level:Volume Sentiment Analysis For NVDA, NVIDIA Corp. Stock
The top table below shows the support & resistance levels of NVDA from the past year’s chart, as well as their price level:volume sentiment at each, using Thursday 8/29/24’s closing price.
The moving averages are denoted with bold.
The next charts show the volume sentiment at each individual price level NVDA has traded at over the past 1-2 years.
Beneath them is a copy & pasteable list of the same data, where the support/resistance levels are denoted in bold.
All ratios with “0” in the denominator are denoted with a “*”.
NULL values are price levels that had limited trading volume, whether it be due to gaps, quick advances or they are at price extremes; in the event that they are retested & there is more data they would have a distinct “Buyers”, “Sellers” or “Even” title.
This is not intended as financial advice, but rather another tool to consider when performing your own research & due diligence on NVDA stock.
Price Level:Volume Sentiment For NVIDIA Corp. NVDA Stock Over The Past 1-2 Years At Past Year’s Support & Resistance Levels
Price Level:Volume Sentiment For NVIDIA Corp. NVDA Stock Over The Past 1-2 Years
NVIDIA Corp. NVDA Stock’s Price Level:Volume Sentiment Over The Past 1-2 Years
NVIDIA Corp. NVDA Stock’s Price Level:Volume Sentiment Over The Past 1-2 Years
Price Level:Volume Sentiment For NVIDIA Corp. NVDA Stock Over The Past 1-2 Years
Price Level:Volume Sentiment For NVIDIA Corp. NVDA Stock Over The Past 1-2 Years
$142 – NULL – 0:0*, +20.76% From Current Price Level
$140 – NULL – 0:0*, +19.06% From Current Price Level
$138 – NULL – 0:0*, +17.36% From Current Price Level
$136 – NULL – 0:0*, +15.66% From Current Price Level
$134 – Buyers – 2:0*, +13.96% From Current Price Level
$132 – NULL – 0:0*, +12.25% From Current Price Level
$130 – Buyers – 1.14:1, +10.55% From Current Price Level
$128 – Buyers – 11:1, +8.85% From Current Price Level
$126 – Sellers – 2.39:1, +7.15% From Current Price Level – 10 Day Moving Average*
$124 – Buyers – 3.88:1, +5.45% From Current Price Level
$120 – Sellers – 2:1, +3.75% From Current Price Level – 50 Day Moving Average*
$118 – Sellers – 1.23:1, +2.05% From Current Price Level
$116 – Buyers – 1.86:1, +0.35% From Current Price Level – Current Price Level*
$114 – Buyers – 2.92:1, -1.35% From Current Price Level
$112 – Buyers – 1.94:1, -3.05% From Current Price Level
$110 – Sellers – 2.6:0*, -4.75% From Current Price Level
$108 – Sellers – 3.33:1, -6.45% From Current Price Level
$106 – Even – 1:1, -8.16% From Current Price Level
$104 – Buyers – 1.9:1, -9.86% From Current Price Level
$102 – Buyers – 1.67:1, -11.56% From Current Price Level
$100 – Sellers – 2:0*, -13.26% From Current Price Level
$99 – NULL – 0:0*, -14.96% From Current Price Level
$98 – Sellers – 1.5:0*, -15.81% From Current Price Level
$97 – NULL – 0:0*, -16.66% From Current Price Level
$96 – NULL – 0:0*, -17.51% From Current Price Level
$95 – Buyers – 1.2:0*, -18.36% From Current Price Level
$94 – Buyers – 2.62:1, -19.21% From Current Price Level
$93 – NULL – 0:0*, -20.06% From Current Price Level
$92 – Buyers – 1.16:1, -21.76% From Current Price Level
$91 – Buyers – 5.2:0*, -22.61% From Current Price Level
$90 – Buyers – 1.06:1, -23.46% From Current Price Level
$89 – Buyers – 2.4:1, -24.31% From Current Price Level
$88 – Buyers – 1.76:1, -25.16% From Current Price Level
$87 – Sellers – 1.52:1, -26.01% From Current Price Level – 200 Day Moving Average*
$86 – Sellers – 1.4:0*, -26.86% From Current Price Level
$85 – Sellers – 1.35:1, -27.71% From Current Price Level
$84 – Even – 1:1, -28.57% From Current Price Level
$83 – Sellers – 2:0*, -29.42% From Current Price Level
$82 – Buyers – 4.9:0*, -30.27% From Current Price Level
$81 – NULL – 0:0*, -31.12% From Current Price Level
$80 – NULL – 0:0*, -31.97% From Current Price Level
$79 – Buyers – 3.47:1, -32.82% From Current Price Level
$78 – Buyers – 4.36:1, -33.67% From Current Price Level
$77 – Sellers – 2.5:0*, -34.52% From Current Price Level
$76 – Sellers – 3.1:0*, -35.37% From Current Price Level
$75 – NULL – 0:0*, -36.22% From Current Price Level
$74 – NULL – 0:0*, -37.07% From Current Price Level
$73 – Buyers – 1.9:0*, -37.92% From Current Price Level
$72 – Sellers – 1.42:1, -38.77% From Current Price Level
$71 – NULL – 0:0*, -39.62% From Current Price Level
$70 – Buyers – 1.9:0*, -40.47% From Current Price Level
$69 – Sellers – 2.67:1, -41.32% From Current Price Level
$68 – Sellers – 2.5:0*, -42.17% From Current Price Level
$67 – Sellers – 2.5:0*, -43.02% From Current Price Level
$66 – Buyers – 1.8:0*, -43.87% From Current Price Level
$65 – NULL – 0:0*, -44.72% From Current Price Level
$64 – NULL – 0:0*, -45.57% From Current Price Level
$63 – Buyers – 1.4:0*, -46.42% From Current Price Level
$62 – Buyers – 2.8:0*, -47.27% From Current Price Level
$61 – Buyers – 1.27:1, -48.12% From Current Price Level
$60 – NULL – 0:0*, -48.98% From Current Price Level
$59 – Buyers – 4.7:0*, -49.83% From Current Price Level
$58 – NULL – 0:0*, -50.68% From Current Price Level
$57 – Buyers – 1.9:0*, -51.53% From Current Price Level
$56 – Buyers – 1.06:1, -52.38% From Current Price Level
$55 – NULL – 0:0*, -53.23% From Current Price Level
$54 – Buyers – 3.08:1, -54.08% From Current Price Level
$53 – Buyers – 2.8:0*, -54.93% From Current Price Level
$52 – Buyers – 2.3:0*, -55.78% From Current Price Level
$51 – NULL – 0:0*, -56.63% From Current Price Level
$50 – Buyers – 3:0*, -57.48% From Current Price Level
$49 – Buyers – 1.67:1, -58.33% From Current Price Level
$48 – Buyers – 1.31:1, -59.18% From Current Price Level
$47 – Buyers – 1.06:1, -60.03% From Current Price Level
$46 – Buyers – 1.18:1, -60.88% From Current Price Level
$45 – Sellers – 1.71:1, -61.73% From Current Price Level
$44 – Buyers – 1.6:0*, -62.58% From Current Price Level
$43 – Buyers – 1.5:0*, -63.43% From Current Price Level
$42 – NULL – 0:0*, -64.28% From Current Price Level
$41 – NULL – 0:0*, -65.13% From Current Price Level
$40 – NULL – 0:0*, -65.98% From Current Price Level
*** I DO NOT OWN SHARES OR OPTIONS CONTRACTS IN NVDA STOCK AT THE TIME OF PUBLISHING THIS ARTICLE ***
The VIX closed at 15.65 today, indicating an implied one day move of +/-0.99% & a one month move of +/-4.52%.
Highest Technical Rated S&P 500 Components Per 8/29/2024’s Close:
1 – K
2 – MMM
3 – UHS
4 – HWM
5 – IRM
6 – BBY
7 – MHK
8 – NEM
9 – TRGP
10 – GDDY
Lowest Technical Rated S&P 500 Components Per 8/29/2024’s Close:
1 – DG
2 – SMCI
3 – WBA
4 – INTC
5 – DXCM
6 – MRNA
7 – DLTR
8 – LW
9 – BBWI
10 – LULU
Highest Volume Rated S&P 500 Components Per 8/29/2024’s Close:
1 – DG
2 – BBY
3 – HPQ
4 – DLTR
5 – PCG
6 – COO
7 – NTAP
8 – CRM
9 – TROW
10 – ULTA
Lowest Volume Rated S&P 500 Components Per 8/29/2024’s Close:
1 – HES
2 – VRSN
3 – DHI
4 – APD
5 – IP
6 – RCL
7 – FMC
8 – ALGN
9 – KKR
10 – AMCR
Highest Technical Rated ETFs Per 8/29/2024’s Close:
1 – DPST
2 – UTSL
3 – DFEN
4 – FAS
5 – KOLD
6 – NAIL
7 – DRN
8 – AAPU
9 – NUGT
10 – GDMN
Lowest Technical Rated ETFs Per 8/29/2024’s Close:
1 – MSOX
2 – NVDQ
3 – NVD
4 – UVIX
5 – BOIL
6 – MEXX
7 – GXLM
8 – MRNY
9 – HZEN
10 – CONL
Highest Volume Rated ETFs Per 8/29/2024’s Close:
1 – INNO
2 – RUFF
3 – SRHR
4 – HDMV
5 – FTRB
6 – OCTZ
7 – HYTR
8 – FDTB
9 – NBCT
10 – GFGF
Lowest Volume Rated ETFs Per 8/29/2024’s Close:
1 – AMZA
2 – DFAE
3 – BAR
4 – URA
5 – SCHY
6 – IVW
7 – AWAY
8 – DFEM
9 – XLG
10 – HUSV
Highest Technical Rated General Stocks Per 8/29/2024’s Close:
1 – BYU
2 – VRAX
3 – GDC
4 – TSSI
5 – NEON
6 – SICP
7 – ASTS
8 – PSNL
9 – LUMN
10 – DOGZ
Lowest Technical Rated General Stocks Per 8/29/2024’s Close:
1 – SING
2 – SCPX
3 – LTM
4 – MULN
5 – AILE
6 – SLXN
7 – IVP
8 – JZXN
9 – CTOR
10 – ASTI
Highest Volume Rated General Stocks Per 8/29/2024’s Close:
1 – XTRX
2 – LUCY
3 – WHLR
4 – BCDA
5 – SGLY
6 – TOVX
7 – BYU
8 – AILE
9 – GLTO
10 – SCWX
Lowest Volume Rated General Stocks Per 8/29/2024’s Close:
1 – UBFO
2 – SNA
3 – PHR
4 – ALTS
5 – HSIC
6 – CCK
7 – GVA
8 – NSPR
9 – IPSC
10 – NGVC
*** THE LIST ABOVE IS STRICTLY FOR INFORMATIONAL PURPOSES – I MAY OR MAY NOT HAVE OR INITIATE A LONG, SHORT, OR LONG/SHORT POSITION IN ANY NAME ABOVE AT ANY TIME ***
The VIX closed at 17.11, indicating an implied one day move of +/-1.08% & a one month implied move of +/-4.95%.
Highest Technical Rated S&P 500 Components Per 8/28/2024’s Close:
1 – K
2 – MMM
3 – UHS
4 – IRM
5 – HWM
6 – NVDA
7 – MHK
8 – RMD
9 – GDDY
10 – MPWR
Lowest Technical Rated S&P 500 Components Per 8/28/2024’s Close:
1 – SMCI
2 – INTC
3 – WBA
4 – DXCM
5 – MRNA
6 – LW
7 – LULU
8 – BEN
9 – EL
10 – BBWI
Highest Volume Rated S&P 500 Components Per 8/28/2024’s Close:
1 – SMCI
2 – SJM
3 – BBWI
4 – VMC
5 – CRM
6 – HPQ
7 – PODD
8 – BBY
9 – BEN
10 – GD
Lowest Volume Rated S&P 500 Components Per 8/28/2024’s Close:
1 – LEN
2 – FMC
3 – WAB
4 – EQT
5 – AKAM
6 – EQIX
7 – PANW
8 – DOV
9 – AMCR
10 – LH
Highest Technical Rated ETFs Per 8/28/2024’s Close:
1 – NVDX
2 – NVDL
3 – NVDU
4 – DPST
5 – UTSL
6 – KOLD
7 – DRN
8 – NAIL
9 – FAS
10 – DFEN
Lowest Technical Rated ETFs Per 8/28/2024’s Close:
1 – MSOX
2 – NVDQ
3 – NVD
4 – BOIL
5 – MEXX
6 – GXLM
7 – UVIX
8 – NVDS
9 – MRNY
10 – SSG
Highest Volume Rated ETFs Per 8/28/2024’s Close:
1 – NRES
2 – IMSI
3 – SSLY
4 – KOKU
5 – UNIY
6 – SMDY
7 – FMCX
8 – GRPZ
9 – HQGO
10 – ZTEN
Lowest Volume Rated ETFs Per 8/28/2024’s Close:
1 – XHYI
2 – SIO
3 – IQHI
4 – FUSI
5 – BHYB
6 – XHYC
7 – CBLS
8 – ARP
9 – MIDE
10 – MAYW
Highest Technical Rated General Stocks Per 8/28/2024’s Close:
1 – GDC
2 – SICP
3 – TSSI
4 – VRAX
5 – NEON
6 – BYU
7 – ASTS
8 – PSNL
9 – LUMN
10 – DOGZ
Lowest Technical Rated General Stocks Per 8/28/2024’s Close:
1 – SING
2 – NDRA
3 – SCPX
4 – WHLR
5 – SXLN
6 – MLGO
7 – SYTA
8 – MYNA
9 – CTOR
10 – JZXN
Highest Volume Rated General Stocks Per 8/28/2024’s Close:
1 – WTO
2 – BOF
3 – WHLR
4 – OUT
5 – WALD
6 – TCBP
7 – XCUR
8 – ARC
9 – SVRE
10 – NSA
Lowest Volume Rated General Stocks Per 8/28/2024’s Close:
1 – QMCI
2 – AVCNF
3 – FMCXF
4 – FLMMF
5 – FETM
6 – SCRYY
7 – AMBO
8 – FTBYF
9 – BTSGU
10 – EDBL
*** THE LIST ABOVE IS STRICTLY FOR INFORMATIONAL PURPOSES – I MAY OR MAY NOT HAVE OR INITIATE A LONG, SHORT, OR LONG/SHORT POSITION IN ANY NAME ABOVE AT ANY TIME ***
VIX closed at 16.15, indicating an implied move of +/-1.02% & one month implied move of +/-4.67% for SPY.
Highest Technical Rated S&P 500 Components Per 8/26/2024’s Close:
1 – K
2 – IRM
3 – MMM
4 – NVDA
5 – HWM
6 – MHK
7 – UHS
8 – TRGP
9 – CBRE
10 – GDDY
Lowest Technical Rated S&P 500 Components Per 8/26/2024’s Close:
1 – INTC
2 – WBA
3 – DXCM
4 – MRNA
5 – LW
6 – SMCI
7 – ABNB
8 – EL
9 – LULU
10 – DLTR
Highest Volume Rated S&P 500 Components Per 8/26/2024’s Close:
1 – FOX
2 – HSIC
3 – ETR
4 – CDW
5 – WAB
6 – BBWI
7 – ARE
8 – BBY
9 – INTU
10 – APTV
Lowest Volume Rated S&P 500 Components Per 8/26/2024’s Close:
1 – BMY
2 – AON
3 – IT
4 – KKR
5 – TDY
6 – ICE
7 – FMC
8 – TMO
9 – ELV
10 – NFLX
Highest Technical Rated ETFs Per 8/26/2024’s Close:
1 – NVDX
2 – NVDL
3 – NVDU
4 – NAIL
5 – DPST
6 – UTSL
7 – DRN
8 – KOLD
9 – NUGT
10 – GDMN
Lowest Technical Rated ETFs Per 8/26/2024’s Close:
1 – NVDQ
2 – NVD
3 – UVIX
4 – BOIL
5 – NVDS
6 – SSG
7 – GXLM
8 – MEXX
9 – MRNY
10 – LABD
Highest Volume Rated ETFs Per 8/26/2024’s Close:
1 – SPCZ
2 – NBCE
3 – JHID
4 – BNE
5 – FSEC
6 – TFJL
7 – TYLD
8 – PKB
9 – TMDV
10 – BZQ
Lowest Volume Rated ETFs Per 8/26/2024’s Close:
1 – NUSB
2 – XHYI
3 – MIG
4 – SPAX
5 – RSPE
6 – WEIX
7 – SHUS
8 – GGUS
9 – AGRH
10 – CFCV
Highest Technical Rated General Stocks Per 8/26/2024’s Close:
1 – ASTS
2 – GDC
3 – WTO
4 – VRAX
5 – BYU
6 – TSSI
7 – LUMN
8 – ADD
9 – NEON
10 -PSNL
Lowest Technical Rated General Stocks Per 8/26/2024’s Close:
1 – NDRA
2 – SING
3 – SYTA
4 – LTM
5 – MLGO
6 – ZEVY
7 – WHLR
8 – MYNA
9 -MKDW
10 – NUWE
Highest Volume Rated General Stocks Per 8/26/2024’s Close:
1 – MRM
2 – ASST
3 – PWM
4 – OUT
5 – LIXT
6 – MAMA
7 – NDRA
8 – WHLR
9 – ELAB
10 – TRIB
Lowest Volume Rated General Stocks Per 8/26/2024’s Close:
1 – FMCXF
2 – TAOIF
3 – MDJH
4 – GSUN
5 – GIKLY
6 – EIGRQ
7 – NRXS
8 – MFH
9 – IFNNF
10 – SHIM
*** THE LIST ABOVE IS STRICTLY FOR INFORMATIONAL PURPOSES – I MAY OR MAY NOT HAVE OR INITIATE A LONG, SHORT, OR LONG/SHORT POSITION IN ANY NAME ABOVE AT ANY TIME ***
VIX Closed at 17.55, indicating a one day implied move of +/-1.11% & a one month implied move of +/-5.07%.
Highest Technical Rated S&P 500 Components Per 8/22/2024’s Close:
1 – K
2 – IRM
3 – HWM
4 – MMM
5 – NVDA
6 – UHS
7 – AXON
8 – MHK
9 – GDDY
10 – FICO
Lowest Technical Rated S&P 500 Components Per 8/22/2024’s Close:
1 – INTC
2 – WBA
3 – DXCM
4 – MRNA
5 – LW
6 – EL
7 – LULU
8 – ABNB
9 – ALB
10 – ETSY
Highest Volume Rated S&P 500 Components Per 8/22/2024’s Close:
1 – EL
2 – SCHW
3 – BEN
4 – CAG
5 – WAB
6 – DUK
7 – FRT
8 – NDSN
9 – HST
10 – ARE
Lowest Volume Rated S&P 500 Components Per 8/22/2024’s Close:
1 – FMC
2 – HES
3 – HSY
4 – WRB
5 – ENPH
6 – AON
7 – GEHC
8 – SWK
9 – KMX
10 – IP
Highest Technical Rated ETFs Per 8/22/2024’s Close:
1 – NVDX
2 – NVDL
3 – NVDU
4 – UTSL
5 – NAIL
6 – NUGT
7 – KOLD
8 – DRN
9 – DFEN
10 – JNUG
Lowest Technical Rated ETFs Per 8/22/2024’s Close:
1 – NVDQ
2 – NVD
3 – GXLM
4 – BOIL
5 – LTCN
6 – NVDS
7 – UVIX
8 – SSG
9 – MEXX
10 – MRNY
Highest Volume Rated ETFs Per 8/22/2024’s Close:
1 – RENW
2 – DIVL
3 – TBFC
4 – ECML
5 – PBJA
6 – QSWN
7 – CNEQ
8 – KLXY
9 – ADVE
10 – XSOE
Lowest Volume Rated ETFs Per 8/22/2024’s Close:
1 – CBLS
2 – XHYE
3 – XHYC
4 – NUSB
5 – PSMD
6 – MIG
7 – CPLS
8 – MAYT
9 – SHUS
10 – SIXS
Highest Technical Rated General Stocks Per 8/22/2024’s Close:
1 – SPCB
2 – VMAR
3 – GDC
4 – VRAX
5 – WTO
6 – ASTS
7 – ADD
8 – BYU
9 – LUMN
10 – TSSI
Lowest Technical Rated General Stocks Per 8/22/2024’s Close:
1 – NDRA
2 – SCPX
3 – SING
4 – SLXN
5 – SYTA
6 – LTM
7 – PSIG
8 – CNTM
9 – AIEV
10 – VSEE
Highest Volume Rated General Stocks Per 8/22/2024’s Close:
1 – AIRI
2 – STAF
3 – AMS
4 – CISO
5 – WHLR
6 – BENF
7 – FFIE
8 – ARTW
9 – GHSI
10 – GDC
Lowest Volume Rated General Stocks Per 8/22/2024’s Close:
1 – CTXXF
2 – DGNOF
3 – ZCMD
4 – WHTCF
5 – ALPIB
6 – DTEGF
7 – NVACF
8 – XHG
9 – CRCUF
10 – PFLC
*** THE LIST ABOVE IS STRICTLY FOR INFORMATIONAL PURPOSES – I MAY OR MAY NOT HAVE OR INITIATE A LONG, SHORT, OR LONG/SHORT POSITION IN ANY NAME ABOVE AT ANY TIME ***
JXI, the iShares Global Utilities ETF has advanced +19.93% over the past year (ex-distributions, 3.17% annually) as Utilities came into focus both due to data center & AI needs, as well as for traders looking to mitigate risk while markets hover near all-time highs.
While JXI is near its all time high, it is also +30.53% above its 52-week low from October of 2023.
Some of JXI’s biggest holdings include Nextera Energy Inc. (NEE), Southern (SO), Duke Energy Corp. (DUK), Iberdrola SA (IBE), National Grid PLC (NG), Constellation Energy Corp. (CEG), Enel (ENEL), American Electric Power Inc. (AEP), Sempra (SRE) & Dominion Energy (D).
With this in mind, it is important to understand previous investor behavior when JXI has traded in the price ranges it is in now, especially as its components all look to have more volatility ahead.
Below is a brief review of JXI’s recent technical performance, followed by the volume sentiments for each of the price levels that they have traded at over the past ~10 years, in order to have an idea as to how they may behave again at these levels.
It is not intended to serve as financial advice, but rather as an additional tool to reference while performing your own due diligence into JXI.
Technical Analysis Of JXI, The iShares Global Utilities ETF
JXI ETF – iShares Global Utilities ETF’s Technical Performance Over The Past Year
Their RSI is in overbought territory & sits currently at 73.67, while their MACD is still bullish, but has been riding up against the signal line for the most part in August.
Their volume over the past week has been +47.36% above average compared to the previous year’s average volume (16,100 vs. 10,925.79), which while they tend to trade at low volumes is still a remarkable uptick over the past five sessions.
Yesterday marked a new all-time high for the global utilities ETF & while markets may see an uptick in volatility in the near-term JXI may be less susceptible to pain in a downturn for the reasons noted above.
JXI opened this week on a gap up which will be an area to keep an eye on next week, as if they decline beyond their $65.51 support level they’ll enter the window it created & head towards the support of the bottom of the window & the 10 day moving average.
Given that the next support level is $63.92, that would put JXI up to possibly test the gap created by last Tuesday’s advancing session.
While JXI has low trading volumes on average, volume is the blood that keeps financial instruments alive & it will be important to have an understanding of how investors have behaved at different price levels over the years.
The table in the section below can be used in addition to your other due diligence tools to shed light on how the market may behave at these levels if they’re tested again.
JXI, The iShares Global Utilities ETF’s Price Level:Volume Sentiment Broken Down
The top table below shows the support & resistance levels of JXI ETF from the past year’s chart, as well as their price level:volume sentiment at each, using Monday’s closing price.
The moving averages are denoted with bold.
The next charts show the volume sentiment at each individual price level JXI has traded at over the past ~10 years.
Beneath them is a copy & pasteable list of the same data, where the support/resistance levels are denoted in bold.
All ratios with “0” in the denominator are denoted with a “*”.
NULL values are price levels that had limited trading volume, whether it be due to gaps, quick advances or they are at price extremes; in the event that they are retested & there is more data they would have a distinct “Buyers”, “Sellers” or “Even” title.
This is not intended as financial advice, but rather another tool to consider when performing your own research & due diligence on JXI ETF or any of its components.
JXI ETF’s Price Level:Volume Sentiment Over The Past ~10 Years At One Year Support & Resistance Levels
iShares Global Utilities JXI ETF’s Price Level:Volume Sentiment Over The Past ~10 Years
JXI ETF’s Price Level:Volume Sentiment Over The Past ~10 Years
JXI ETF’s Price Level:Volume Sentiment Over The Past ~10 Years
$66 – NULL – 0:0*, -0.08% From Current Price Level – Current Price Level*
$65 – NULL – 0:0*, -1.59% From Current Price Level
$64 – NULL – 0:0*, -3.1% From Current Price Level – 10 Day Moving Average*
$63 – Buyers – 0.1:0*, -4.62% From Current Price Level
$62 – Buyers – 0.1:0*, -6.13% From Current Price Level – 50 Day Moving Average*
$61 – Sellers – 2:1, -7.65% From Current Price Level
$60 – Sellers – 2:1, -9.16% From Current Price Level
$59 – Buyers 1.6:1, -10.67% From Current Price Level
$58 – Buyers – 3:1, -12.19% From Current Price Level – 200 Day Moving Average*
$57 – Buyers – 1.33:1, -13.7% From Current Price Level
$56 – Sellers – 1.22:1, -15.22% From Current Price Level
$55 – Buyers – 1.4:1, -16.73% From Current Price Level
$54 – Even – 1:1, -18.24% From Current Price Level
$53 – Buyers – 2:1, -19.76% From Current Price Level
$52 – Buyers – 1.5:1, -21.27% From Current Price Level
$51 – Even, 1:1, -22.79% From Current Price Level
$50 – Buyers – 1.2:1, -24.3% From Current Price Level
$49 – Sellers – 3.82:1, -25.81% From Current Price Level
$48 – Buyers – 8:1, -27.33% From Current Price Level
$47 – Buyers – 4:1, -28.84% From Current Price Level
$46 – Buyers – 1.33:1, -30.36% From Current Price Level
$45 – Buyers – 2.14:1, -31.87% From Current Price Level
$44 – Sellers – 6.78:1, -33.38% From Current Price Level
$43 – Sellers – 2:1, -34.9% From Current Price Level
$42 – Buyers – 6.63:1, -36.41% From Current Price Level
$41 – Buyers – 1.04:1, -37.93% From Current Price Level
$40 – Sellers – 1.39:1, -39.44% From Current Price Level
$39 – Sellers – 2.38:1, -40.95% From Current Price Level
$38 – Sellers – 1.75:1, -42.47% From Current Price Level
$37 – Buyers – 3:1, -43.98% From Current Price Level
$36 – Buyers – 2.22:1, -45.5% From Current Price Level
$35 – Buyers – 1.52:1, -47.01% From Current Price Level
$34 – Sellers – 1.42:1, -48.52% From Current Price Level
$33 – Buyers – 1.08:1, -50.04% From Current Price Level
$32 – Sellers – 2.27:1, -51.55% From Current Price Level
$31 – Sellers – 1.22:1, -53.07% From Current Price Level
$30 – Sellers – 1.3:1, -54.58% From Current Price Level
$29 – NULL – 0:0*, -56.09% From Current Price Level
$28 – NULL – 0:0*, -57.61% From Current Price Level
$27 – NULL – 0:0*, -59.12% From Current Price Level
*** I DO NOT OWN SHARES OR OPTIONS CONTRACT POSITIONS IN JXI AT THE TIME OF PUBLISHING THIS ARTICLE ***
