NAS100 NDX Technical Analysis: The Nasdaq Index is trading in a bearish direction today, as it recorded the highest trading price so far at 21155 and the lowest price at 20972, and is currently trading at the level of 21030. These movements indicate limited fluctuations in a narrow range, but the general trend is still weakly bearish.
NAS100 NDX Technical Analysis: Technical Analysis
Technically, the Nasdaq Index is currently trading below most of the moving averages, which reinforces the bearish trend at the moment. Trading below the moving averages indicates that the market prefers selling over buying, which indicates weak upward momentum among traders.
As for the MACD indicator, it shows a negative trend, but with weak selling momentum, which means that the downward trend is not strong enough to continue the sharp decline at the moment. This weakness in the negative momentum may indicate the possibility of an upward correction in the near future if market factors change or strong support signals emerge.
Expectations and Impacts:
Given this weak downtrend, the index may face support levels near 20970 and 20900. If the selling pressure continues, these levels may be potential targets. However, the index may see some upward corrections if positive factors emerge or market sentiment changes.
Any economic developments or changes in monetary policy from the US Federal Reserve may significantly impact the movement of the index. For example, strong economic data may boost sentiment and support an upward movement, while any hints of monetary tightening may lead to further downward pressure on the market.
Trading strategies levels on Buy/Sell level
| ND100 | In case of buying | in case of selling |
| Entry point | 21119 | 20956 |
| Target Point 1 (TP1) | First resistance: 21195 | First support: 20855 |
| Target Point 2 (TP2) | Second resistance: 21250 | Second support: 20790 |
| Stop Loss (SL) | 20956 | 21119 |
The Nasdaq is trading in a weak downtrend today, with prices trading below the moving averages and the MACD indicating weak negative momentum. If the selling pressure continues, the index could head towards nearby support levels. However, there is still potential for an upward correction if economic sentiment improves or positive catalysts emerge to push the market higher.
