NASDAQ: Waiting for Direction
Published on Thursday, 07 February 2013 21:33 Written by TradersHuddle Wire
New York, February 7th (TradersHuddle.com) - Shares of NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) closed the trading day higher by $0.14 or 0.49% from its previous close. NASDAQ's price action formed what is considered to be a doji close, where the open and close prices are very close to each other, mainly signaling an indecision between buyers and sellers.
The NASDAQ OMX Group, Inc. (NASDAQ:NDAQ) is a global operator of market exchanges that delivers trading, exchange technology, securities listing, and public company services across multiple continents. The Exchange's offerings include trading across multiple asset classes, market data products, financial indexes, and market technology products and services.
NASDAQ's trading range is defined by a trough, which marked calculated support at $22.63 and by a peak that set the resistance point at $23.80. These levels are closely watched by traders managing their positions.
Traders wanting to establish a position in NASDAQ or traders that are already holding the stock can use the doji close to their advantage, since the pattern present a short-term pause in the stock's price action. This pause results in an entry point for traders depending of which way the stock resolves this short-term indecision.
The Doji is an important candlestick pattern that provides information on their own and as components in a number of important patterns. Doji form when a security's open and close are virtually equal. The length of the upper and lower shadows can vary and the resulting candlestick looks like a cross, inverted cross or plus sign. Alone, doji are neutral patterns.
Any bullish or bearish bias is based on preceding price action and future confirmation. In the case of NASDAQ, given that the stock finished the session higher, bulls should monitor their positions for confirmation that the stock will continue higher by taking its intraday high. Below a Doji illustration:
- Bulls in Charge of NASDAQ
- NASDAQ: Traders Look for a Bottom
- NASDAQ Formed a Hammer Candlestick Pattern
- Bulls taking Control of NASDAQ?
- Neutral Short Term Pattern on NASDAQ
- NASDAQ: Waiting for Direction
- Is NASDAQ Trade Over?
- NASDAQ Short term Bullish Reversal
- NASDAQ Bearish Signs
- Brazil's Market Surveillance Project Goes Live Across All Markets at BM&FBOVESPA
Related Partner Headlines
- Sandy Forces Closure of Stock Markets Through Tuesday - TheStreet.com
- UPDATE: NASDAQ Stock Market to be Closed on Tuesday - Benzinga
- Stock Markets Closed as Superstorm Looms - TheStreet.com
- Top 4 Mid-Cap Stocks In The Diversified Investments Industry With The Highest Cash - Benzinga
- The NASDAQ Stock Market to be Closed on Monday October 29 - Benzinga
- Top 4 Mid-Cap Stocks In The Diversified Investments Industry With The Highest EPS Estimates - Benzinga
- NASDAQ OMX Group Inc. (NDAQ): Today's Featured Financial Services Laggard - TheStreet.com
- NASDAQ OMX Group Inc. (NDAQ): Today's Featured Financial Services Winner - TheStreet.com
- NASDAQ OMX and The NASDAQ Stock Market File Proposed Voluntary Accommodation Program for Review by Securities and Exchange Commission - Benzinga
- NASDAQ OMX Group Inc. (NDAQ): Today's Featured Financial Loser - TheStreet.com
Latest Partner Headlines
Dow Today: Verizon Communications (VZ) Higher - TheStreet.com
Separating the Bargains From the Busts - TheStreet.com
Cramer Quick Take: The 60-Inch TV Will Be Key This Holiday - TheStreet.com
Cramer Quick Take: Cisco Wins If Fiscal Cliff Is Resolved - TheStreet.com
Gap Up and Sit - TheStreet.com
Apple, Intel, MicroStrategy: Tech Winners & Losers - TheStreet.com
Windows 8 PC Sales Disappointing: Report - TheStreet.com
Cramer Quick Take: Buy Home Depot and Lowe's - TheStreet.com
Dow JonesCompany ID [INDEXDJX:.DJI] Last trade:15,112.19 Trade time:4:52PM EDT Value change:▼206.04 (-1.35%)
S&P 500Company ID [INDEXSP:.INX] Last trade:1,628.93 Trade time:4:52PM EDT Value change:▼22.88 (-1.39%)
NASDAQCompany ID [INDEXNASDAQ:.IXIC] Last trade:3,443.20 Trade time:5:15PM EDT Value change:0.00 (0.00%)
In The Wires
PTC Therapeutics Prices Initial Public Offering
Amdocs Unveils Packaged Software and Hardware for Real-Time Charging, Deployable in Four Months*
Amdocs Showcases Full Range of Solutions and Services to Help Service Providers Unlock the Value of Big Data Analytics
XL Axiata Deploys Amdocs Mobile Payments for Direct Carrier Billing
Sirtex To Distribute Surefire Medical's Innovative Infusion System in Australia and Asia Pacific Markets
Northrop Grumman to Provide Fuel Quantity Indicator System for UK's Sentry E-3D AWACS Aircraft
Men's Wearhouse Declares Quarterly Cash Dividend
One-Third of Companies Have Missed Revenue Goals in the Last Year